IKEA ranked 28th most valuable brand
Swedish furniture giant IKEA was ranked at place 28 with a brand value of 12.5 billion dollar, 4 percent higher than last year.
"IKEA is the company that made furniture fashionable, cheap and disposable. It continues to display innovation in product design, looking to ski makers who bend wood and shopping cart makers to understand how to make sturdier furniture. It has made a significant effort to include Scandinavian design and culture into all of its touchpoints, which reinforces what IKEA stands for. IKEA only has five-10 percent market share, but its awareness levels are incredibly high for a business of its size, which speaks to the high affinity for the brand. Its effort to cut prices on its items as well as promote itself in a humorous and quirky way keeps customers engaged and supports the cult following IKEA has built over the years. Additionally, because IKEA had corporate citizenship initiatives in place before it became a corporate trend, they are tied well to the overall brand strategy. In 2009, IKEA entered its 25th market, opened 15 new stores and saw an increase in sales".
Branding consultancy Interbrand’s “Best Global Brands” 2010.
| • SIGN UP FOR FREE NEWSLETTER • ALL BREAKING NEWS ON TWITTER |
Last Updated (Thursday, 16 September 2010 11:34)