Reliance surpasses Apple & Nike, ranks world’s second-best brand in FutureBrand Index 2024

Reliance Industries Ltd (RIL), India’s biggest company by market capitalisation, has been ranked as the world’s second-best brand by the FutureBrand Index 2024, ahead of tech giant Apple and sportswear major Nike.

The FutureBrand ranking brings companies and brands to attention that continuously develop growth strategies and stay ahead of market shifts. The ranking of 2024 showed Reliance jumping 11 places to claim the second position. In 2023, it was in 13th place.

Korea’s Samsung holds the first position followed by Reliance, which has been ranked ahead of many well-known global brands including Apple, Nike, Walt Disney, Netflix, Microsoft, Intel and Toyota. Notably, Reliance is the only Indian company on the list.

"A future brand is a brand poised for future success. It is one that is perceived to balance a strong sense of purpose with a universally great experience right across its value chain," the report said. "A future brand performs consistently and universally well on the 18 attributes we measure in the Index."

The FutureBrand Index studies the PwC Top 100 companies by market capitalisation from a brand perception strength perspective.

"Over the past ten years, we've witnessed the evolution of global giants, the rise of new challengers, and the enduring power of brands that stay true to their purpose and deliver it through experience," it said.

The report said that the best future brands efficiently adapt to changing consumer demands, technological advancements and market dynamics without losing their own identities. These brands have a clear sense of who they are, the report added.

"The FutureBrand Index over the past decade reveals that successful brands know how to harmonise the unchanging with the evolving, ensuring not just survival, but sustained success," it said.

The Index is an annual study that evaluates the 100 top companies in the world by market cap and reorders them based on their brand perception. It analyses how these companies perform across 18 attributes of purpose and experience and where they stand for future success. Additionally, it focuses on how brands are perceived by informed professionals, going beyond traditional rankings that just track financial performance.

The FutureBrand Index delves into emotional and functional factors that depict a brand's potential for success in the long term. It uses QualiQuant Interviews with over 3,000 informed professionals, who have knowledge of at least 7 companies in the PwC Top 100. These interviews assess companies based on their ability to deliver on experience and purpose.

"In 2014, seven of the top ten brands were from the US. By 2024, the top ten will be much more varied, with four US brands and five from APAC and the Middle East. APAC and the Middle East are investing in brands, especially in a B2B setting, at levels that match the pace previously seen in just the US and Europe," the report said.