According to Robert Agnew, director of Haymarket Intelligence who led the study, it was the brand’s ability to build from a good domestic and regional base to raise its profile to be synonymous with quality, and its use and placement of flagship stores that has helped the brand to grow.
The study analysed prominent brands across Asia that have shown the greatest potential to become the next global players, rating the brands by market and industry. The food and beverages sector was also identified as a sector for explosive growth in the region in the coming years.
Other brands that appeared in the Top 10 included Tsingtao, Baidu, Asus and DBS, with Indian and Chinese brands dominating the master list. In fact, up to a quarter of emerging brands identified were Chinese brands.
But brands aside, the study points to a changing Asia where according to the study: “Asian international branding efforts are expected to bear rich dividends. Many Asian firms have global aspirations and challenge the competitive landscape dominated by western firms.”
It also noted that these local brands in Asia are emerging quickly because they have developed an understanding o culture nuances, and have adopted a consumer-driven pricing, packing and promotional strategy.
“This study nails the myth and lie that Asian brands can’t do brand equity,” Agnew said. “The purpose of the study was to identify the next Sony or the next LG, the ones that can even challenge the status quo.”
Top Ten Emerging Brands
7. SK Telecom
8. San Miguel
9. Taj Hotels Resorts & Palaces
For more information, or to purchase the study, contact Robert Agnew, director of Haymarket Intelligence at +852 2122 5222, or visit www.haymarketintelligence.asia