Thanks to its 42% gain in valuation last year, Amazon has now overtaken Google and Apple to become the world’s most valuable brand.
The latest news comes thanks to Brand Finance Global 500 report which revealed that the retail giant is now worth $150.8 billion.
Despite the number, it’s not surprising to see Amazon breaking into the top stop. In recent years, Amazon has expanded into other markets such as artificial intelligence technologies, music, video streaming. Apart from that, the $13.7 billion acquisition of Whole Foods contributed towards its goal of entering into bricks-and-mortar retail.
Talking about Amazon’s latest success, Brand Finance chief executive David Haigh said, “Jeff Bezos once said that ‘brands are more important online than they are in the physical world’.”
“He has proved himself right by choosing the name Amazon, known as the largest, most powerful river in the world, as 23 years later the Amazon brand carries all before it as an unstoppable force.”
“The strength and value of the Amazon brand gives it stakeholder permission to extend relentlessly into new sectors and geographies.”
“All evidence suggests that the amazing Amazon brand is going to continue growing indefinitely and exponentially.”