What is the world’s most valuable spirit brand?
Brand Finance has released its latest report ranking the world’s most valuable spirits – but which player took the top spot?
Research consultant Brand Finance has released Brand Finance Spirits 50, its annual ranking of the world’s most valuable spirits, as well as revealing the 10 strongest spirits brands in the world.
Moutai topped the 50 most valuable spirits list, despite its value falling by 5% to US$42.9 billion. It was followed by Wuliangye, which retained its second place spot from last year.
“Over the course of the pandemic, alcoholic brands have been faced with difficult conditions including fluctuating demand due to national lockdowns across the world,” said Alex Haigh, managing director, Brand Finance.
“The reopening of the economy has driven major growth in the sector with spirits brands growing by 6% year-on-year.”
According to Brand Finance, Moutai leveraged its iMoutai mobile application, which has more than 10 million users for online payments and e-commerce fulfilment.
Furthermore, the report noted that Moutai relies heavily on seasonal sales during the Lunar New Year and the Mid-Autumn Festival, with lower revenues expected in the summer months.
Moutai recently moved into baijiu-infused ice cream with the launch of its first ice cream store in the Guizhou province in partnership with Mengniu Dairy. The company aimed to attract younger consumers in China with the move.
Brand owner Kweichow Moutai is forecasting a 20% leap in profits for the first six months of this year compared with the same period in 2021.
World’s strongest spirit
Furthermore, the report named Wuliangye baijiu as the world’s strongest spirits brand. Brand Finance determines the strength of brands by looking at marketing investment, stakeholder equity, and business performance.
Wuliangye saw its brand value increase by 12% to US$28.7bn. The baijiu achieved a Brand Strength Index (BSI) score of 89.4 out of 100, securing the ‘AAA’ brand rating.
Brand Finance said Wuliangye has been active in globalising the baijiu category through its corporate brand message strategy. The company has taken part in international events including trade shows, the World Economic Forum in Geneva, Switzerland, and the Boao Forum for Asia conference.
It was followed by Moutai in second place, while Bacardí rum took the third position and Don Julio Tequila was fourth.
Meanwhile, Brand Finance named Diageo-owned Casamigos as the fastest-growing spirit brand, with its brand value soaring by 177% to US$450 million. The brand, co-founded by actor George Clooney, almost tripled in value since last year and is a new entrant to Brand Finance’s ranking.
Diageo plans to invest more than US$500m in expanding production capabilities in Mexico, a move that is expected to drive further growth for Casamigos in the coming years.
Casamigos Tequila achieved the Supreme Brand Champion 2022 title in The Spirits Business‘ annual Brand Champions report.