Raymond Doherty 27 Apr 2017 05:11pm

EY has UK's fifth most valuable brand

The Big Four firm increased its brand value from £9.7bn in 2016 to £10.3bn in 2017 to move into the top five most valuable brands
Caption: The Big Four firm increased its brand value from £9.7bn in 2016 to £10.3bn in 2017.

Overall, however, the value of British brands has taken a significant hit from Brexit.

Following the vote to leave the EU and the subsequent devaluation of sterling, Britain’s top brands declined by an average of 6%, according to consultancy firm Brand Finance.

In addition, of the 140 brands with data for both 2016 and 2017, 88 have declined in value.

Some have bucked the trend, such as Shell, which is now ranked number one following an increase in value of 16%.

Second placed Vodafone had a more difficult year; even when measured in sterling its brand value declined (by 9%).

HSBC, in third place, is also down, though by just 1%, with BP in fourth place. The rest of the top ten is made up of Barclays, BT, Tesco, Sky and O2.

Lynx is Britain’s fastest growing brand, up 91% to £2.1bn, after ditching its ‘The Lynx Effect’ campaign.

Other Big Four members Deloitte, KPMG and PwC were not included in the UK ranking as Brand Finance determined that their headquarters and/or operational territory was not in the UK.

David Haigh, CEO of Brand Finance, said, “While the impact of Brexit on the broader economy has not lived up to the doomsday scenarios, British brands are clearly vulnerable to takeover by foreign firms.

“At one level, this is testament to Britain’s strength at developing and managing desirable brand assets. However more should be done to ensure Britain gets its fair share of the spoils for its quality brands.”

Brand Finance also calculates the global 500 most valuable brands. This year Google replaced Apple at the top of the table with a brand value of $109.5bn (£86.9bn). Google’s brand value rose during 2016 by 24% (from $88.2bn) whilst Apple’s declined from $145.9bn to $107.1bn.

PwC was again the top performing of the Big Four in 66th place with a value of $18.5bn. Deloitte was next in 77th with a value of $16.7bn, then EY in 98th ($13.35). Meanwhile KPMG was outside the top 100, coming in at 124th with a value of $10.9bn.