POPULARITY BOOST FOR QUEENSLAND BRANDS
Written on the 27 March 2014
QUEENSLAND’S brand economy has grown by 66 per cent, with seven companies making Brand Finance Australia’s top 100 list.
The consultancy evaluates the most powerful brands in the country, with the list’s total value worth $117 billion.The state trails Victoria, New South Wales and Western Australia, contributing $5.1 billion to the total value - increasing from $3.1 billion in 2013.
Director Richard Haigh says Queensland is gaining ground on Western Australia, despite one of its top players, Billabong, struggling.“The decision to write off the brand on the company’s balance sheet seems to have been premature to say the least.
“Billabong continues to attract investors willing to attempt a revival.“Though weakened, there is undoubtedly value remaining,” he says.
Billabong fell from 43rd to 75th place, while top ranked brand Suncorp (12th) boosted state recognition to the tune of more than $2 billion.Other Queensland companies that made the cut include Virgin Australia, Flight Centre, Thiess, Bank of Queensland and Aurizon.
Australia’s most valuable brand is Woolworths at more than $12 billion, followed by Telstra on $9.3 billion and BHP Billiton on $7.4 million.