The Kantar BrandZ Most Valuable Chinese Brands 2024 report reveals that the total value of this year's Top 100 brands reached US$968.5 billion, showing a slight drop of 4% compared to last year.
According to Kantar BrandZ studies, after two consecutive years of double-digit declines, brand values are beginning to show signs of stabilisation. This suggests that Chinese brands have entered a period of steady growth, in line with the consistent pace of economic recovery.
Kantar BrandZ top 10 most valuable Chinese brands 2024
Tencent has maintained the top position on the list for four consecutive years, with a total brand value of US$129.039 billion this year. This is despite a 10% decrease compared to the previous year, when Tencent’s value also saw a reduction of over 29% to US$144.109 billion.
Chinese top liquor brand Moutai has moved to the second position with a brand value of US$87.298 billion, reflecting a slight decrease of 1% from last year's US$88.427 billion.
Alibaba has moved from second to third place this year, with a 24% decline in brand value from US$90.186 billion to US$68.482 billion. Meanwhile, Douyin, the sister app of TikTok by ByteDance, maintains its position at number four, with a brand value of US$56.882 billion, representing a 22% increase from last year's US$46.641 billion as one of the top 10 risers.
Huawei has returned to the top five this year, with its brand value of US $41.039 billion. The brand has also become this year's top risers’ champion, with a 52% jump in brand value year-on-year. Kantar’s research attributes the brand's growth in brand value to "completing an innovation-led transformation to drive its booming cloud services and digital business".
Kantar BrandZ Most Valuable Chinese Brands 2024 adds nine new brands to this year’s ranking. The tech company Vivo debuted with the highest brand value at US$5.375 billion, ranking at No. 34. Didi, with its improved financial performance and strong brand heritage, achieved the 47th position with a brand value of US$3.713 billion, making it the highest-ranked returning brand this year.
Overall, 36 brands on the list experienced an increase in their value from last year, with 11 of them witnessing a growth of 20% more. Apart from Huawei, NetEase (No.25, US$8.775 billion, +51%) and Pinduoduo (No.10, US$20.257 billion, +47%) are among the top-three brands demonstrating the most rapid growth in terms of brand value.
Other brands worth noticing include Red, Lenovo and BYD. Lenovo (No. 45, US$3.838 billion, 13%), the consumer technology and services platform, jumped nine spots this year, while BYD (No. 24, US$9.636 billion, 6%) remains the auto industry leader.
The Kantar Top 100 Brands in China represent 21 diverse industries, with media and entertainment, financial services, alcohol, and retail collectively accounting for almost two-thirds of the total value of the top 100 brands. Notably, the media and entertainment sector secures the leading position in total industry value, with 13 brands featured in this category.
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