NEWS
CHINA'S CHANGYU ALMOST BEAT MOET CHANDON TO BECOME WORLD'S MOST VALUABLE WINE BRAND
By Siulan Law Mathews DipWSET
31-7-2023
Source: Brand Finance
France’s Moët & Chandon maintains its title as most valuable Wine & Champagne brand, valued at USD1.3 billion. China’s Changyu is the second most valuable and is rated world’s strongest brand in the category.
Despite that its brand value has dropped 10 percent, Moët & Chandon maintains its position as world’s post valuable champagne and wine brand for the third consecutive year in Brand Finance’s Champagne & Wine 2023 ranking,
China’s Changyu is a close second, its brand value has increased 33 percent to USD1.2b, just USD100 million less than that of Moët & Chandon.
Having jumped two positions in this year’s ranking, Changyu is also rated by Brand Finance as the strongest Wine & Champagnes brand with a BSI score of 83.2 out of 100, earning it a AAA- rating.
Source: Brand Finance
The China-based brand boasts three consecutive years of brand strength growth.
If Changyu keeps its growth momentum, it can be a shock winner of next year’s world most valuable wine brand next year.
Meanwhile, Australia’s Penfolds is this year’s fastest-growing Wine & Champagne brand, its brand value has increased 48 percent to USD659 million.
The Australian-based brand is also the category’s second strongest after Chnagyu, with a BSI of 81.6 out of 100.
Penfold’s brand strength boasts a 19-point increase since last year and has earned the brand a corresponding AAA- rating.
Every year, Brand Finance puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.
Brand Finance said its assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 countries and across 31 sectors.
(the writer can be contacted at: info@thewinechronicle.com)
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