Brazil's Skol named Latin America's most valuable brand, overtaking Corona

23 Sep 2015

Value of the top 50 increases 2% despite region’s economic struggles
Finance and beer brands thrive but B2B takes a dive as a fall in commodity prices reduces profitability

MEXICO CITY, MEXICO — For the first time, Brazilian beer brand Skol is the most valuable brand in Latin America, according to the fourth annual BrandZ™ Top 50 Most Valuable Latin American Brands ranking announced today by WPP and Millward Brown. The AB InBev beer brand has risen 20% in 2015, taking its brand value to $8.5bn. Corona, last year’s number one moves to second position with growth of 6% to $8.5bn.

The ranking reveals that Latin America’s leading brands have continued to defy tough economic conditions, growing the Top 50’s cumulative value to $132bn, an increase of 2% in US dollar terms. The BrandZ™ Top 50 has consistently outperformed local stock indexes and 2015 was no exception. By comparison, a composite index from the six key exchanges in the region dropped by 14% this year (see attached chart). This proves the importance of investing in brands even in hard times.

The ranking is once again dominated by Mexican brands with their contribution by value rising from 33% last year to 37% in 2015, led by the strong performance of Corona, Telcel and Televisa. Brazilian brands took 24% of the listing value, with Beer, Food and Personal Care brands contributing 47% of that total. Chile lost share down to 15% from 20% in 2014, Colombia declined one point year on year to 15%, while Peru and Argentina both gained a single point to contribute 5% and 2% of the total value respectively.

The BrandZ Top 10 Most Valuable Latin American Brands 2015
Rank 2015
Brand Category Brand Value 2015 ($M) Brand Value Change YoY Rank Change YoY Country
1 Skol
Beer 8,500
20% +1
2 Corona
Beer 8,476
6% -1
3 Telcel
Communication Providers 6,174
16% +1 Mexico
4 Bradesco Financial Institution
25% +1
5 Falabela
-23% -2
6 Televisa
Communication Providers
22% +1
7 Itau Financial Institution
28% +6
8 Brahma
Beer 4,185
17% 0
9 Aguila Beer 3,672
3% 0
10 Modelo Beer 3,604
4% 0

“What we are seeing in this year’s BrandZ™ listing is the power of a strong brand proposition that delivers meaningful difference to consumers. Given the economic circumstances in many markets that means creating strong emotional connections that resonate with the growing middle class as well as low income families. Such an approach is essential if companies want to grow great brands.” said Gonzalo Fuentes, CEO LatAm for Millward Brown.

"Latin America's strongest brands have been able to ride out the economic storm. Their value continues to rise and defy local market issues, building strong businesses for their brand owners. The BrandZ Top 50 Most Valuable Latin American Brands 2015 powerfully demonstrates how vital investment in marketing can help protect and grow brands and share-owner value, even in difficult times," said Sir Martin Sorrell, CEO and founder of WPP.

Other key trends identified by the BrandZ™ LatAm Top 50 include:

Local brands succeed by creating a strong, emotional connection with consumers. Although premium brands such as Budweiser, Heineken, Stella Artois and Bohemia are making an impression, the most value and scale continues to be seen by local brands in the middle class and low-end consumer groups. In the beer sector where multinational ownership via companies such as AB InBev and SAB Miller has enabled brands to combine very precise segmentation and targeting, the value of local traditions and a place in the local culture has proved strong. Brands such as Skol, Mexico’s Telcel, Chilean retail champion Falabella, Colombian bank Bancolombia have managed to appeal to these groups by focusing on local needs and emotional messaging. Similar forces are also at play in cosmetics and finance. Natura, for example, enjoys a clear link with Brazil, while also promoting its sustainability and social responsibility credentials. In the finance sector, the departure of players such as Citi and HSBC has reinforced the fact that local brands are stronger than global and international players in a consolidating market.

The Beer sector dominated the Top 10 for the third year in a row, with five of the top 10 positions (four of them belonging to AB InBev: Skol, Corona, Brahma and Modelo). Overall the sector contributed 29% of total brand value of the Top 50 LatAm 2015, reflecting high local consumption.

Highest growth for financial Institutions – the value of brands in this sector grew by 18% in 2015, the best performance of any category. Their success was driven by the consolidation in the sector combined with factors such as the reduction in the credit costs at state-owned banks such as Banco do Brasil and Caixa Econômica Federal and the strong performance of Bancolombia, which grew its brand value by 16%.

B2B category was the worst performing category, down 34% on the back of falling oil prices. It was even worse in the energy/oil subcategory, which dropped 44% as the added problems of corporate governance issues took their toll at Petrobas. The Brazilian oil company, which was named Latin America’s top brand in 2012, could not even make the listing in 2015 as corruption allegations and operational problems hit value. The fastest-growing brand in the Top 50 was Antarctica, a Brazilian beer brand that has expanded across the region with both its core product and also soft drink Guaraná Antarctica. It has managed to grow its value by 62% to $1.9bn.

New entrants to the index from Mexico were financial institution Azteca (nº 36), retailer Oxxo (nº 38) and Beer Tecate (nº 41). Brazil added financial institution BTG Pactual (nº 42), while Argentina’s communication provider Personal Telecom took the No 46 spot and Colombia’s insurance and asset management business Sura joined the listing (nº 49).

“The economy has not been kind to Latin America in the last year outside Colombia but the region’s strongest brands have found a way to thrive and prosper. The ability to anticipate consumer needs and build strong connections by satisfying or helping them solve problems is the hallmark of the most successful brands in this year’s BrandZ™ Top 50 for Latin America,” said Eduardo Tomiya, Managing Director, Millward Brown Vermeer for Brazil & South America.

The BrandZ™ Top 50 Most Valuable Latin American Brands 2015 analyses and determines the value of brands from Argentina, Brazil, Chile, Colombia, Peru and Mexico. Together, these nations represent around US$5 trillion in GDP, the equivalent of the world’s third-largest economy ahead of Japan. It is the only ranking that takes into account the views of potential and current buyers of a brand, alongside financial data, to calculate its value.

To download a copy of The BrandZ™ Top 50 Most Valuable Latin American Brands 2015 report, charts and photography, visit: . The mobile app can be downloaded via

For more information please contact:
Eduardo Tomiya
Managing Director, Millward Brown Vermeer - Brazil & South America
Tel: +55 11 3071-3348
Email: [email protected]

Miquet Humphryes
Director, Global Corporate Marketing
Millward Brown
Tel: +44 (0)1926 826179
Email: [email protected]