RIYADH: Saudi Aramco, one of the world’s largest energy companies has been ranked 16th on Kantar BrandZ’s list of the top 100 valuable brands.
Aramco, with a brand value of $99 billion is a newcomer on this list, along with India’s Infosys which grabbed the 64th spot.
“Following its IPO in 2019, Aramco instantly became one of the world’s largest publicly traded companies by market capitalization,” wrote Kantar BrandZ in its report.
Apple leapfrogged Google and Amazon to garner the top spot with a brand value of $947 billion.
Amazon, which was on the top of the list last year, was pushed to the third spot this year with a value of $706 billion.
Google, which was in the third spot last year, jumped into second place with a brand value of $820 billion.
The Kantar BrandZ report also added that the combined value of the world’s top 100 most valuable brands has increased by 23 percent to $8.7 trillion over the past year, which highlights the vitality of brand strength in navigating an unsettled global economy.
Apart from Saudi Aramco and Infosys, other newcomers in the top 100 list are Argentinian online retailer Mercado Libre at the 71st spot, followed by Chinese video-sharing app Kuaishou, Dutch payment company Adyen, and Airbnb at 82nd, 96th and 99th spots respectively.