Olay is The Most Valuable Beauty Brand in The World
- Procter & Gamble’s Olay has been named the Top Beauty Brand 2012 in the BrandFinance® Top 50 Beauty Brands report released today with a brand value of US $11.8 billion.
- Runner up Avon struggles into second place despite losing US$ 2.2 billion in brand value with a 22% decrease.
- Dove has been valued as the United Kingdom’s most valuable beauty brand with a brand value of US $5 billion after a successful year in 2011.
- Consumers remain loyal to legacy brands as all but nine of the 50 brands are over 60 years old whilst 15 of them are over 100 years old.
Brand Finance’s latest Top 50 Beauty Brands study on the world’s top cosmetics brands suggests that despite difficult trading conditions in many markets the beauty industry has proven its resilience and ability to adapt to new challenges.As Olay celebrates its 60th birthday this year, it seems fitting that 9 of the 50 brands are over 60 years old whilst 15 of them are over 100 years old.
“On Olay, we try to be at the forefront of innovation, with new ingredients and technologies that really transform the skin, so it’s a true honour to be recognized for this and ranked as the world’s top beauty brand.” said Michael Kuremsky, P&G’s Global Vice President and General Manager of Skin Care, on the Top 50 Beauty Brands “This year also marks Olay’s 60th anniversary, so we are grateful that millions of women around the world continue to trust Olay for their skin care needs.”
Olay’s parent company, Procter & Gamble, seems certain to be proud of their beauty brands as Pantene (valued at US $2.6 billion) has also risenone place, with 4% growth in its brand value. Approaching the London 2012 Games, P&G seeks to maintain its brand awareness not only through sponsoring the American gymnast, Alicia Sacramone, as their beauty brands ambassador, but the brand has also secured an impressive Worldwide Partnership with the International Olympic Committee.
2012 has also seen the brand value of Avon suffer with a loss of US $2.2 billion and a 22% decrease in brand value after a difficult period for the brand following the company’s stock
dropping 45% in 2011 and the resignation of Andrea Jung as CEO. Whoever will follow in Jung’s footsteps seems certain to face a tough time. Despite this Avon remains the 2nd Top Beauty Brand thanks to the loyalty of their customers and their strong commitment to woman’s empowerment, ‘Avon continues to improve women’s lives on the developing world by providing them with means to earn money and support their families’ said Mary-Ellen Field, Associate Director of Brand Finance.
Dove has been ranked as the UK’s Number 1 Beauty Brand with a value of $US 5 billion but Unilever has successfully managed to grow the brands presence worldwide after Dove was ranked as one of the most trusted brands in India. This year has also seen the entrance of Germany’s Schwarzkopfbrand (valued at US $2.6 billion) and British based PZ Cussons (valued at US $250 million) into the Top 50 Beauty Brands league table.
David Haigh, CEO of Brand Finance, commenting on the table stated: “Whilst the Top 50 Beauty Brands might appear to be dominated by the USA, France and UK, nations such as Japan have begun to emerge as forerunners in the industry and it seems likely that as the European economic crisis continues we will soon see the appearance of many more beauty brands from the emerging markets in our global ranking.”
Brand Finance’s Top 10 Beauty Brands 2012