Brazilian oil giant Petroleo Brasileiro Petrobras SA is no longer Latin America’s most valuable brand. Instead, Mexico’s popular Corona beer has been crowned as the top name in the list of brands to watch, according to the BrandZ index of 2013 compiled by brand consultancy Millward Brown Optimor.
Corona, which was sold to Belgian beer company Anheuser-Busch InBev in June, grew 29 percent in “brand value” in the last year – up to $6.62 billion. Millward Brown cited the “strong financial performance” of Corona’s parent company and a “solid brand positioning which is popular with consumers worldwide.”
Petrobras, the Brazilian energy giant which topped the ranking in 2012 with a value of US$10.6bn, is now in fourth place with a value of US$5.8bn.
The Top 10 Most Valuable Latin American Brands 2013 are:
‘The growing muscle of Mexican Brands'also has overtaken Brazil as the country to claim the highest percentage of the total brand value of the Top 50.
The BrandZ Top 50 Most Valuable Latin American Brands 2013 looks at brands from Argentina, Brazil, Chile, Colombia, Mexico and Peru. Together, these nations represent around US$4,75 trillion in GDP, the equivalent of the world's fourth largest economy after Japan.
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