The Chinese E-commerce giant, Alibaba has been named as the world’s most valuable non-US retail brand. As per BrandZ rankings, 2019 received on 14th May, the brand has surpassed renowned names like McDonald’s, Home Depot, Nike and Louis Vuitton. It has outperformed to become the only Asian company in the top 10 this year. The brand’s value was worth $131.2 billion in 2019- a number that has risen by 48% since 2018 when the company was ranked at number three.
According to the report by BrandZ, Alibaba turned the ‘Singles Day’ into the world’s biggest-ever shopping event. While Amazon is still ahead in the ranking race, WPP (the ad group) and Kantar (Data Analytics unit of WPP) emphasize that ‘Alibaba arguably has more innovations than Amazon’. Graham Staplehurst, global strategy director for Kantar`s BrandZ ranking, stated that- ‘Both Alibaba and Amazon are connecting with consumers across a wide variety of their needs. They are growing more than others partly because of their activity outside retailing.’