Lanka Talents

Sri Lanka’s Top 100 Brands Showcase Resilience Growing in Brand Value

• Total value of Sri Lanka’s top 100 brands increased by 3% over course of 2020 despite pandemic turmoil
• Dialog remains Sri Lanka’s most valuable and strongest brand with brand value of Rs. 54.0 billion and AAA brand strength rating
• Supermarket sector records impressive 33% total brand value growth as demand spikes
• In contrast, hospitality and airlines brands take hit as travel and tourism reach standstill amid lockdowns
• Banking remains Sri Lanka’s most valuable sector, with 19 brands featuring in ranking accounting for impressive 43% of total brand value
• General insurance sector drops 3%; Ceylinco General bucks trend growing 18%

2020 was by all accounts one of the most tumultuous years for all businesses, not only in Sri Lanka but throughout the world. The nation, first having to deal with the Easter bombing in 2019, followed by COVID-19 lockdowns over the last year, has had to negotiate a significantly depressed economy, which has resulted in a reduction in consumer purchasing power. In such circumstances, the brands that a company owns, are arguably now more critical than ever before to sustain and grow businesses.

The total value of Sri Lanka’s most valuable brands has increased slightly by Rs.16 billion or 3% this year, an impressive feat given the current economic climate. Total value, however, still falls short of the total value recorded in 2019, which stood at Rs. 630 billion. With a reduction in consumer spending power our review highlights that the larger, more established brands have withstood the downturn better, because of their resilience.

Source

https://brandirectory.com/rankings/sri-lanka