Reliance ranked No 2 brand globally after Apple in FutureBrand Index 2020 list

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 is seen as behaving ethically as well as being associated with growth, innovative products and great customer service. People have a strong emotional connection with the organisation," it added.

FutureBrand, 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 several 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.

The world has changed dramatically in six years when the FutureBrand introduced first FutureBrand Index, as 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."

In the 2020 list, Apple ranked first, while Samsung stood 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 index is not based on consumer research. Contrasting to most other rankings, the Index provides 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 world’s leading firms are examined and checked how they have performed over the past year and marked accordingly under the index.

"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.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.