corona beer sales

Corona named world's most valuable beer despite pandemic name clash

12 August, 2020

The world’s most valuable alcoholic drinks brands could lose up to US$33bn worth of brand value as a result of the COVID-19 pandemic, according to brand valuation company Brand Finance.

The company’s most recent report, launched in August 2020, also revealed that Corona is now the most valuable beer brand in the world while Chinese baijiu brands have dominated the spirits sector.

The research was collected by comparing the impact of COVID-19 on a brand’s enterprise value to what it was on January 1, 2020.

BEER

Corona topped Brand Finance’s beer ranking with a brand value of US$8.1bn despite sales in China declining in the first half of the year due to lockdown and the unfortunate name clash with the coronavirus.

Earlier in the year several reports claimed the brand was losing significant sales due to the breakout of the pandemic through global lockdown as well as communication issues with the brand’s name and the name of the virus.

SPIRITS

The report also shows that Chinese spirits brands continue to dominate the top positions in the spirits value ranking, with Moutai top (up 29% to US$39.3bn), Wuliangye second (up 30% to US$20.9bn) and Yanghe third (down 15% to US$7.7bn).

“The spirits market in China is flourishing as disposable income and living standards continue to rise across the nation,” the report read.

“Consumers are now turning towards top quality and middle to high end premium baijiu brands. In this year’s ranking, Chinese spirits’ brand values increased by 14% on average, while non-Chinese spirits brands decreased by 0.1% on average.”

Meanwhile Irish giant, Baileys, has been named the fastest growing spirits brand by value, recording a 105% growth to US$1.3bn.

The report says that Baileys has committed to its three-year long strategy of repositioning the brand to expand on the number of occasions it can be consumed.

“This, paired with the exponential sales growth of the brand over the previous four years, has placed the spirits giant in a strong position,” the report added.

WINE

Moët et Chandon (brand value US$1.4bn) claimed the top spot in the inaugural list of most valuable champagne & wine brands.

The report suggested that the brand’s success has been due to its focus on remaining accessible through charitable endeavours, sponsoring top events and most recently launching a social media campaign highlighting its sustainable ingredients and heritage.

READ THE FULL REPORT HERE





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Nick Strangeway

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