Sika is the fastest growing brand in Switzerland
The country's top 50 brands may have lost up to 11 percent of their cumulative brand value in the first half of the year, according to the Brand Finance Global report. Nestlé and UBS remain the most valuable brands in Switzerland and Rolex the strongest. Sika is the fastest growing.
The value of the 50 most valuable Swiss brands may have lost up to 11 percent in the first half of the year due to the impact of the COVID 19 pandemic. This would bring the cumulative loss of brand value to over CHF 15 billion. This is the result of the now presented Brand Finance Switzerland 50 2020-report. Globally, according to an estimate by the independent valuation agency brand finance the value of the 500 most valuable brands will fall by 1 trillion francs as a result of the virus outbreak.
However, Switzerland's strongest brands have shown great resilience even in this extremely difficult economic situation. Thus Nestlé the title of Switzerland's most valuable brand after the Group's brand value rose by 6 percent to 20.2 billion Swiss francs. In second place comes UBS with a brand value of CHF 9.1 billion.
"Solid growth in a time of turbulence is testament to brand agility and strength," Alex Haigh, Valuation Director at Brand Finance, is quoted as saying in a Media release Quoted. "Given Brand Finance's calculations that the food industry is one of the few sectors likely to feel limited impact from the pandemic, Nestlé certainly seems strong enough to weather the storm."
Sika is the fastest-growing brand in Switzerland. The brand value of the Zug-based specialty chemicals company grew by an "impressive" 64 percent to CHF 1.4 billion in the past half-year. As a result, Sika moved up ten places to 29th in the Swiss Top 50. With its acquisitions and record sales, Sika "further consolidated its position as one of the world's leading construction chemicals brands" and shows "no signs of slowing down its expansion program".
The strongest brand nationwide is Rolex. It achieves a brand value of CHF 7.8 billion and a brand strength index of 89.8 out of 100 points. Accordingly, Rolex receives the "elite rating" AAA+ for its brand strength. Like others, Rolex had to close its factories during the lockdown. As a result, the company was unable to sell 160,000 of its watches on the market.
