Saudi Basic Industries Corporation’s (Sabic) brand value has increased by 9.3 per cent to $4.33 billion in 2020, according to the independent brand valuation consultancy, Brand Finance.
This reflects the growing positive perception of Sabic and its purpose of delivering ‘Chemistry That Matters’ for its customers and other stakeholders.
With the 2020 valuation, Sabic has now entered the list of top 500 global brands. According to Brand Finance, the Sabic brand has grown consistently year on year over the last five years, doubling in value since 2014.
Yousef Al-Benyan, vice chairman and CEO, Sabic, said: “The strength of our global brand demonstrates our collaborative approach to business and our commitment to maintaining long-term relationships based on trust.”
“We are committed to delivering market-leading solutions for our customers, while at the same time placing sustainability and our corporate social responsibility at the heart of our business – as recognised once again by our growing brand valuation,” he added.
Late last year, Sabic launched its first-ever global brand advertising campaign in a strategic effort to raise the company’s awareness, understanding, and engagement with global influencers as a part of its 2025 ambitions.
Brand Finance utilises a bespoke methodology to determine the brand value of a company. Factors considered include stakeholder familiarity and satisfaction along with forecasted business performance, it stated. – TradeArabia News Service