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Mexico’s 50 Most Valuable Brands


·         Telcel, Cemex, and Bimbo featured as top performers

·         The most extensive valuation of Mexican brands to date

·         Brands are some of the most valuable assets companies posses – understanding their value is fundamental to deliver maximum returns on the business

·         Mexico to participate in discussions for ISO 10668, the international standard establishing the key requirements to determine the monetary value of a brand


Mexico City and London – Brand Finance, the world’s leading brand valuation and strategy consultancy, published today the list of Mexico’s 50 Most Valuable Brands, in a first ranking of this kind performed by the firm for Mexico, or any Spanish speaking country in Latin America. Brand Finance has been tracking the value of hundreds and thousands of the world’s top brands for nearly twenty years. The Top 50 brands from Mexico are featured in the Brand Finance Mexico 50, the most extensive listing of Mexican brand values ever announced.

“Brands are some of the most valuable assets that companies and other organizations possess,” said Laurence Newell, Managing Director for Brand Finance in Mexico. “Understanding brand value is key to delivering maximum returns to the business, and this exercise is essential for brands in Mexico, as in the rest of the world.”

Telcel, Cemex, and Bimbo top the list. Other highlights from the Brand Finance Mexico 50 include:

·         Grupo Bimbo owns what is perhaps the most valuable portfolio of consumer brands in Mexico. In the list of Mexico’s Top 50, four of the company’s brands are featured, including Bimbo (3), Marinela (29), Tia Rosa (30), and Oroweat (48).

·         The list reveals that in Mexico, the ‘brands behind the brands’, despite being lesser-known players, are often as respectable in terms of value as their consumer facing brands. Such is the case of Arca Continental (12), Sigma Alimentos (25), and Femsa (50).

·         Mexico’s Top 50 features young brands that in a short amount of time have become important players in the market, such as izzi (22) and Volaris (45).  

·         Carlos Slim owns one of Mexico’s most diversified and valuable brands portfolio. Five of his brands are ranked in Brand Finance Mexico’s Top 50, including top performer, Telcel, Telmex (6), Sanborns (17), Inbursa (19), and Condumex (24).

·         The food and beverage sector is prominently represented throughout the list, such as Grupo Herdez, who owns two: Herdez (39) and Del Fuerte (42); Anheuser-Busch Inbev’s Corona (4) and Heineken’s Sol (13), in the beverages category; and Grupo Lala (15) and Bachoco (38) as agricultural producers.

·         The retail sector is well represented with players that include Liverpool (10) and Palacio de Hierro (36); Soriana (9), Chedraui (16), Comercial Mexicana (33), and Oxxo (5) in food retail; and Elektra (31) and Grupo Famsa (43).

·         Important industrial brands also make the ranking, including second ranked Cemex, Grupo México (14), Mexichem (23), and Fresnillo mining company (46).


“Every year Brand Finance puts thousands of the world’s top brands to the test and issues these rankings for many countries around the world,” said Brand Finance Chief Executive David Haigh. “We are pleased to do this for the first time in the Mexican market, given that brands have a powerful effect on the long term financial performance and enterprise value of businesses. Anyone tasked with reporting to shareholders in Mexico or around the world should have brand strength and brand value front of mind.”

Mexico to participate in discussions for a consistent framework for the valuation of local, national, and international brands both large and small.

In 2007 the International Organization for Standardization (ISO) set up a task force to draft an International Standard on monetary brand valuation. After 3 years, ISO 10668 – Monetary Brand Valuation was released in late 2010, establishing the principles which should be adopted when valuing any brand. Brand Finance’s CEO and founder, David Haigh, was instrumental in the development of ISO 10668, alongside other industry experts.

This year, the Mexican National Committee for ISO is hosting the 3rd plenary meeting of the ISO Technical Committee, responsible for reviewing the creation of an approach to brand valuation that is transparent, reconcilable, and repeatable. The plenary meeting will be held in Cancun, Mexico coordinated by ANCE, A.C., a civil association with over 20 years of experience in norms and certification. On this occasion, and for the first time, Mexico will have active representation in the discussions to be held in Cancun, after Brand Finance Mexico joined the local mirror committee on brand valuation.

Brand Finance recently opened operations in Mexico. The office will service other Spanish speaking nations in Latin America and will be headed by long time branding expert, Laurence Newell.




Media Contacts:

 Robert Haigh,

Marketing & Communications Brand Finance

M: +44 (0)7762211167

Erika Eyl

Marketing & Communications

Brand Finance Mexico

M: (55) 1401 8596

Adriana Ramos

Dextera for Brand Finance Mexico

M: (55) 1957 9150


Note to Editors

2016 brand values are calculated in USD with a valuation date of 1/1/16.


About Brand Finance

Brand Finance is the world’s leading brand valuation and strategy consultancy, with offices in over 20 countries. We provide clarity to marketers, brand owners and investors by quantifying the financial value of brands. Drawing on expertise in strategy, branding, market research, visual identity, finance, tax and intellectual property, Brand Finance helps clients make the right decisions to maximize brand and business value and bridges the gap between marketing and finance.



Definition of Brand

In the very broadest sense, a brand is the focus for all the expectations and opinions held by customers, staff and other stakeholders about an organization and its products and services. However when looking at brands as business assets that can be bought, sold and licensed, a more technical definition is required. Brand Finance helped to craft the internationally recognized standard on Brand Valuation, ISO 10668. That defines a brand as “a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos and designs, or a combination of these, intended to identify goods, services or entities, or a combination of these, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits/value.”

However, a brand makes a contribution to a company beyond that which can be sold to a third party. ‘Brand Contribution’ refers to the total economic benefit that a business derives from its brand, from volume and price premiums over generic products to cost savings over less well-branded competitors.

Brand Strength

Brand Strength is the part of our analysis most directly and easily influenced by those responsible for marketing and brand management. In order to determine the strength of a brand we have developed the Brand Strength Index (BSI). We analyze marketing investment, brand equity (the goodwill accumulated with customers, staff and other stakeholders) and finally the impact of those on business performance. Following this analysis, each brand is assigned a BSI score out of 100, which is fed into the brand value calculation. Based on the score, each brand in the league table is assigned a rating between AAA+ and D in a format similar to a credit rating. AAA+ brands are exceptionally strong and well managed while a failing brand would be assigned a D grade.


Brand Finance calculates the values of the brands in its league tables using the ‘Royalty Relief approach’. This approach involves estimating the likely future sales that are attributable to a brand and calculating a royalty rate that would be charged for the use of the brand, i.e. what the owner would have to pay for the use of the brand—assuming it were not already owned.

The steps in this process are as follows:

1.    Calculate brand strength on a scale of 0 to 100 based on a number of attributes such as emotional connection, financial performance and sustainability, among others. This score is known as the Brand Strength Index.

2.    Determine the royalty rate range for the respective brand sectors. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database of license agreements and other online databases.

3.    Calculate royalty rate. The brand strength score is applied to the royalty rate range to arrive at a royalty rate. For example, if the royalty rate range in a brand’s sector is 1-5% and a brand has a brand strength score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4.2%.

4.    Determine brand specific revenues estimating a proportion of parent company revenues attributable to a specific brand.

5.    Determine forecast brand specific revenues using a function of historic revenues, equity analyst forecasts and economic growth rates.

6.    Apply the royalty rate to the forecast revenues to derive brand revenues.

7.    Brand revenues are discounted post tax to a net present value, which equals the brand value.


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