Reliance ranks 2nd globally in FutureBrand Index 2024, ahead of Apple

India's largest and most valuable company Reliance Industries Ltd has been ranked the second best brand globally on the FutureBrand Index for 2024, ahead of brands like Apple and Nike.

The ranking highlights brands that continuously evolve strategies to deliver on both brand purpose and experience, staying ahead of market shifts.

Reliance jumped 11 places in the latest ranking, according to the ranking released by FutureBrand.

The company was ranked at 13th place in 2023 and is ranked at 2nd in the latest ranking.

The list is led by Korean brand Samsung. Reliance ranks ahead of well-known global brands like Apple, Nike, Walt Disney, Netflix, Microsoft, Intel and Toyota.

Reliance is the only Indian brand on the list.

"A future brand is a brand poised for future success. It is one that is perceived to balance a strong sense of purpose with a universally great experience right across its value chain," the report said. "A future brand performs consistently and universally well on the 18 attributes we measure in the Index."  The FutureBrand Index evaluates the PwC Top 100 companies by market capitalisation from a brand perception strength perspective.

"Over the past ten years, we've witnessed the evolution of global giants, the rise of new challengers, and the enduring power of brands that stay true to their purpose and deliver it through experience," it said.

The best future brands skilfully adapt to changing consumer expectations, technological advancements, and market dynamics without losing sight of their core identity. They have a clear sense of who they are and why they exist, FutureBrand Index 2024 report said.

"The FutureBrand Index over the past decade reveals that successful brands know how to harmonise the unchanging with the evolving, ensuring not just survival, but sustained success," it said.

The FutureBrand Index is an annual study that reorders the top 100 global companies by market capitalisation, based on their brand perception. It assesses how well these companies balance 18 attributes across Purpose and Experience to position themselves for future success.

Unlike traditional rankings focused purely on financial performance, the FutureBrand Index delves into how brands are perceived by informed professionals. It focuses on emotional and functional attributes that show a brand's potential for long-term success.

The FutureBrand Index uses QualiQuant Interviews with over 3,000 informed professionals, who have knowledge of at least 7 companies in the PwC Top 100. These interviews assess companies based on their ability to deliver on experience and purpose.

"In 2014, seven of the top ten brands were from the US. By 2024, the top ten is much more varied, with four US brands and five from APAC and the Middle East. APAC and the Middle East are investing in brands, especially in a B2B setting, at levels that match the pace previously seen in just the US and Europe," the report said.