SABIC reinforces its global brand ranking with a 16% increase in brand value
By : Nata Kesuma | Wednesday, February 09 2022 - 15:00 IWST
INDUSTRY.co.id - Riyadh, Saudi Arabia, SABIC today announced a 16% year-on-year increase in its estimated brand value which now stands at US$4.67 billion.
The increase, confirmed in new reports by independent consultancy Brand Finance, reinforces SABIC’s second place standing on a list of the most valuable brands in the chemical industry, and its position among the top 500 most valuable global brands.
Yousef Al-Benyan, SABIC Vice Chairman and CEO said: “SABIC’s brand is actively enabling us to realize our vision of becoming the preferred world leader in chemicals. Across SABIC we have evolved to meet the demands of a changing world and have emerged stronger from the turbulence of the last two years. Our resilient business strategy, customer focus and targeted brand building programs are propelling our recovery and positioning us strongly for future growth.”
He added: “Our brand value has more than doubled since 2014, and last year we rose to become the second most valuable brand in the chemical industry. Today’s rankings solidify our position and represent one of the largest ever year-on-year increases in our brand value.”
In 2019, SABIC launched a major global brand campaign, which focused on global megatrends and coordinated efforts to bring the SABIC brand to life. The campaign has continually evolved, focusing on the Health and Wellness megatrend in 2021, and generating significant exposure across the globe amongst relevant target groups.
Last year also marked the strategic evolution of SABIC’s brand presence in the agricultural sector with the implementation of a focused strategy utilizing the established equity of the SABIC brand to launch the newly established SABIC Agri-Nutrients Company.
Brand Finance is a world-leading independent brand valuation consultancy. Its annual rankings examine the world's biggest brands against a range of critical factors to estimate the value of future revenue attributable to a brand and the potential for licensing royalties.