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The US no longer dominates the top of the FutureBrand Index, in a landmark achievement, Reliance Industries Limited (RIL) has been ranked No. 2 in the FutureBrand Index 2024, surpassing global technology giant Apple.
This marks the first time an Indian company has entered the top three of this prestigious global ranking, showcasing the growing influence of Indian corporations on the world stage. According to the FPI Global Ranking 2024, Reliance made a remarkable leap from No. 13 in 2023 to No. 2 in 2024, reflecting its strong brand positioning, consumer trust, and strategic growth across multiple industries, including energy, telecommunications, and retail. The FutureBrand Index, which evaluates companies based on brand perception rather than financial performance, has witnessed a major shift over the past decade. In 2014, seven of the top ten brands were from the United States, but by 2024, the list has become more diversified, with only four US brands making the top ten, while five brands hail from Asia-Pacific (APAC) and the Middle East. The Index highlights how APAC and the Middle East have significantly invested in brand development, particularly in B2B sectors, matching the brand-building momentum traditionally seen in the US and Europe. However, not all brands have maintained their dominance. Major players like Boeing (#12 in 2014) and Volkswagen (#17 in 2014) have completely fallen out of the rankings, highlighting the evolving nature of brand perception and consumer trust. Samsung secured the No. 1 position, climbing from No. 5 in 2023, thanks to its strong focus on personality, storytelling, and innovation. The brand's high scores in authenticity, thought leadership, and well-being have reinforced its position as a trusted global leader. Meanwhile, Apple, which was ranked No. 1 in 2023, slipped to No. 3 but the company maintained a benchmark for brand loyalty and seamless customer experience, with strong scores in consistency, customer engagement, and thought leadership. In the FutureBrand Index 2024 finance emerged as the strongest sector, with 10 out of 15 brands showing upward momentum, indicating robust performance and growing consumer trust. Healthcare struggled, with 10 out of 15 brands declining, reflecting challenges in public perception and industry turbulence, consumer staples saw a balanced trend, with five companies rising and three declining, pointing to steady yet modest growth. Information Technology showed mixed results, as nine companies improved, while 11 saw a decline, highlighting the sector's volatility, energy and communication Services struggled, with more brands declining than improving, a pattern underscored by Alphabet's drop from No. 1 in 2014 (as Google) to No. 57 in 2024, and Meta (formerly Facebook) falling from No. 11 to No. 52. Industrials remained largely stagnant, with no major upward movement, despite Boeing's high-profile departure from the rankings. (ANI)
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