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BIZCHINA> Top Biz News
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Wanglaoji in top list for first time
By Wang Ying (China Daily)
Updated: 2009-06-26 08:15
Charity pays. Herbal drink brand Wanglaoji, which ranked nowhere in Hurun's brand value list last year, leaped to the 49th ranking this year thanks largely to its generous donation of 100 million yuan to the Sichuan earthquake victims last May.
The Guangdong-based drink firm created a huge intangible asset through positive and healthy brand building and marketing, and its brand value is estimated to have hit $540 million, according to Hurun's latest report yesterday. Wanglaoji's rocket rise is a good example on how to construct a smart image through shouldering corporate social responsibility, analysts said.
Financial services, tobacco and alcohol are the most valuable industries for homegrown Chinese brands. China Mobile tops the brands list for the third year running with a brand value of $29.3 billion, followed by four financial service brands, ICBC, CCB, Bank of China and China Life. An interesting thing is that China's tobacco brands swept the list by taking up 13 positions, while last year Chunghwa was the only listed tobacco brand, ranking 49th. "Homegrown Chinese brands are beginning to take on a life of their own, despite their lack of international recognition," said Rupert Hoogewerf, CEO of Hurun Report. "It is becoming harder for international brands to make waves in China," he said. (For more biz stories, please visit Industries)
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