Billionaire Mukesh Ambani ‘s oil-to-telecom conglomerate Reliance Industries NSE-1.12 percent was ranked second-largest brand after Apple’s 2020 FutureBrand Index. “This year’s number two largest entrant, Reliance Industries outperforms on every attribute,” said FutureBrand, releasing its 2020 Index.
Reliance is one of India’s most profitable companies, is “very well known” and “seen to behave ethically” as well as being synonymous with “growth,” “innovative goods” and “great customer service,” it said. “People have a deep emotional connection to the company in particular.”
FutureBrand, a global brand transformation firm, said that part of Reliance ‘s success could be attributed to Mukesh Ambani’s redesign of the product as a one-stop-shop for Indians.
“The president expanded on the current petrochemical company, turning it into a digital behemoth designed to meet every customer’s needs.
“Today, this company is engaged in a variety of industries, including oil, petrochemicals, textiles, natural resources, retail, and telecommunications. Now that Google and Facebook are taking equity stakes in the business, we can see Reliance jostling at the top of the next index,” he said. FutureBrand said that six years after the first FutureBrand Ranking, the landscape has changed drastically.
Priorities have changed, and just 12 months ago, the world’s largest 100 businesses are facing unprecedented challenges.
“The FutureBrand Index is a global perception analysis that reorders Market Cap ‘s Global Top 100 Companies on perception intensity rather than financial strength,” he said. “While the FutureBrand Index 2020 has exposed a range of seismic changes in the way businesses work and how they portray themselves to the outside world, one main trend has stood out: uniqueness.”
“The number of new entrants to our Index includes ASML Holdings, PayPal, Danaher, Saudi Aramco, and American Tower Company. In total, there are 15 new entrants this year, seven of which are in the top 20, including Reliance Industries in number two,” he said.
The FutureBrand Index is not focused on research by customers. Unlike several other rankings, the Index offers a detailed overview of how influential firms are performing and are expected to do so for the next few years. “We ‘re living in extraordinary times,” he said, adding that the planet is going through the worst health crisis of a century.
But a reimagined world will emerge from this, and it will be up to the leading businesses and the people who work for them to adapt to new demands and new standards, “he said. FutureBrand Index 2020 analyses the world’s leading firms and evaluates how they have performed over the past year.
Our unique viewpoint sheds light on the innovators as well as on the brands that have effectively navigated sector-specific rough waters. As we have learned, it may be premature to write off a business in difficulty and risky to extol the virtues of an almost unbreakable brand, “he added.
RIL ‘s stock has contributed nearly $100 billion to market capitalization in the last four months. The contribution to India’s overall market cap is at a historic 9.7%, according to data from Bloomberg. Over the last 15 years, the total contribution of RIL to the country’s market cap was 4.8% on the total.