FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
Billionaire Mukesh Ambani's
oil-to-telecom conglomerate Reliance Industries has been ranked second biggest
brand after Apple on the FutureBrand Index 2020.
"This year's highest
entrant at number two, Reliance Industries excels on every attribute,"
FutureBrand said, releasing its 2020 Index.
One of the most
profitable companies in India, Reliance is, "very well respected" and
"seen as behaving ethically" as well as being associated with
"growth", "innovative products" and "great customer
service", it said. "In particular, people have a strong emotional connection
with the organisation."
FutureBrand, which is a
global brand transformation company, said part of Reliance's success could be
attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for
Indians.
"The chairman built on
the existing petrochemicals business, transforming it into a digital behemoth
designed to meet every customer need.
"Today, this company
is engaged in a number of sectors including energy, petrochemicals, textiles,
natural resources, retail, and telecommunications.
“Now that Google and
Facebook are taking equity stakes in the firm, we may see Reliance jostling for
the top spot in the next Index," it said.
FutureBrand said six years
on from the first FutureBrand Index, the world has changed dramatically,
priorities have shifted and the globe's top 100 companies are dealing with
challenges unthinkable even 12 months ago.
"The FutureBrand Index
is a global perception study that reorders PwC's Global Top 100 Companies by
Market Cap on perception strength rather than financial strength," it
said.
"While the FutureBrand
Index 2020 has uncovered a number of seismic shifts in the way companies work
and how they present themselves to the outside world, one key theme has stood
out: individuality."
The 2020 list is topped by
Apple, while Samsung is ranked third, followed by Nvidia, Moutai, Nike,
Microsoft, ASML, PayPal and Netflix.
Reliance ranks 91st on PWC
2020 list, it said.
"A slew of new
entrants to our Index include ASML Holdings, PayPal, Danaher, Saudi Aramco, and
American Tower Corporation.
“In total, there are 15 new
entrants this year, seven of which make it into the top 20, including Reliance
Industries slotting in at number two," it said.
The FutureBrand Index is
not based on consumer research.
Unlike most other rankings,
the Index offers a rigorous assessment of how prominent companies are doing and
are likely to do over the next few years.
"We are living in
unprecedented times," it said, adding the world is living through the
worst healthcare crisis in a century.
"But out of this will
emerge a reimagined world, and it will be up to leading companies and the
people who work for them to respond to new demands and new expectations,"
it said.
The FutureBrand Index 2020 examines the world's leading firms and determine how they have fared over the past year.
"Our unique
perspective shines a light on the innovators as well as the brands which have
successfully navigated sector-specific rough waters.
“As we discovered, it can
be premature to write off a company in difficulty and risky to extol the
virtues of a seemingly unbreakable brand," it added.
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