Mobily in Saudi top 10 brands list; value up 31pc to $1.1bn
RIYADH, April 9, 2020
Etihad Etisalat (Mobily), a leading telecom services operator in Saudi Arabia, has been ranked ninth most valuable brand in the kingdom, gaining three notches up the scale and increasing in value by 31 per cent to reach $1.1 billion.
The ranking was given by London-based Brand Finance, world’s leading independent brand valuation and strategy consultancy, which issued its annual brand valuation ranking recently.
Brand Finance, which values 5,000 of the world’s biggest brands on an annual basis, explained the methodology it followed to come up with the ranking.
In its press statement, Brand Finance said it assessed the impact of the Covid-19 outbreak based on the effect of the outbreak on Enterprise Value, as of March 18 compared to what it was on January 1, 2020.
"Based on this impact on Business Value, Brand Finance estimated the likely impact on Brand Value for each sector. Each sector has been classified into 3 categories based on the severity of Business Value loss observed for the sector in the period between January 1 and March 18," it stated.
The Brand value is “understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market,” it added.
CEO Salman Al Badran said: "The Brand Finance ranking testifies to our company’s hard work and steadfast achievements over the past period."
"Our efforts at all levels and across all departments over the past years translated into more satisfied customers due to ongoing enhancements in the quality of our services, and thus all indicators followed suit," he added.-TradeArabia News Service
