Jack Daniel’s named most valuable spirit brand
Brown-Forman-owned Jack Daniel’s is the most valuable spirit brand in the world, according to management consulting company Interbrand.
In Interbrand’s 22nd annual report Best Global Brand 2021, Jack Daniel’s has ranked 81 out of 100 leading global brands.
The report determined ranking according to a brand’s ‘financial performance, role in purchase decisions, and competitive strength’, along with other factors. It also analysed how leading brands navigated a ‘rapidly changing business landscape’.
Sophia Angelis, senior vice-president, managing director of Jack Daniel’s brands, said: “From its humble beginnings back in the late 1800s, Jack Daniel’s has steadfastly held to its mantle of craftsmanship, quality, authenticity and an uncompromising free spirit.
“Now over 150 years later, our commitment is unchanged, and we’ll continue to make every day count while pushing forward with Mr Jack’s guiding words, ‘every day we make it, we’ll make it the best we can’.”
The whiskey is currently valued at US$6.537 billion – a 4% year-on-year increase since 2020.
Owner Brown-Forman grew net sales by 20% in the first quarter of fiscal 2022, it was revealed last month.
Interbrand’s report saw technology companies Apple and Microsoft rank first and third respectively, while e-commerce company Amazon bagged the second spot this year.
Jack Daniel’s also featured in the top 100 in last year’s report, securing the position of 82.
The world’s biggest Cognac brand, Hennessy, ranked 95 in the top 100 list. The LVMH-owned brand, which is currentl valued at US$5.299bn, dropped four places on the list from 2020.
Recently, LVMH saw sales for its wine and spirits rise by 30% during the first nine months of 2021, aided by the ‘gradual recovery’ of tourism.