Tata has entered the list of top 100 most valuable brands, according to the Brand Finance Global 500 2019 report released at the World Economic Forum in Davos. The value of Tata’s brand has increased 37 per cent to $19.5 billion in 2019 from $14.2 billion a year ago.
Tata has climbed to the 86th position this year from the 104th position, making it the only Indian brand in the Top 100, the Tata Group said in a statement on Sunday.
“Tata has always been synonymous with trust and leadership and these brand attributes are even more important to all our stakeholders today. This recognition of the strength of our brand will encourage us to drive our businesses in a socially responsible manner globally while continuing to strive for excellence through innovation and entrepreneurship,” N Chandrasekaran, Chairman at Tata Sons said.
According to Brand Finance, a brand valuation and strategy consultancy, the rise in the valuation is the result of improved performance of key Tata companies such as Tata Consultancy Services, Tata Motors and Tata Steel.
Further, an inclusion of a wider number of Tata entities for a more segmented and complete view of the Tata Group Brand Value and a rise in the Tata group's overall brand strength were additional factors.
"This solid increase in Tata Group's brand value has largely been driven by an outstanding year for TCS who improved on their Brand Strength and are for the first time rated a AAA brand," David Haigh, Chief Executive Officer (CEO) at Brand Finance said.