LONDON, 21 January 2025 – German brands continue to have a global impact, with 27 ranked among the world’s top 500, placing Germany third globally behind the US and China, according to a new report from Brand Finance, the world's leading brand valuation consultancy. Of the 27 brands featured, 19 have increased in brand value since 2024, contributing to a combined worth of USD550.2 billion.
Deutsche Telekom holds its position as the most valuable German brand in the top 500 and the most valuable telecoms brand globally, with its brand value rising 16% to USD85.3 billion – more than USD13 billion greater than Verizon, the world’s second most valuable telecoms brand at USD72.3 billion. Deutsche Telekom ranks 11th globally, dropping two spots since 2024 following NVIDIA’srise. NVIDIA’s brand value nearly doubled (up 98%) this year to reach USD87.9 billion, securing ninth place, followed by State Grid Corporation of China in 10th. Deutsche Telekom remains the most valuable European brand featured in the ranking.
Cristobal Pohle Vazquez, Regional Manager, Brand Finance commented:
“The diversity among Germany’s leading brands showcases the nation’s ability to build powerful, world-class brands. With notable growth, Deutsche Telekom continues to assert itself as the most valuable German brand worldwide. The growth of brands like Deutsche Bank, Adidas, and SAP highlights the variety. Deutsche Bank leads the charge - increasing 47% to USD8.0 billion, followed by Adidas – up 28% to USD18.5 billion, and SAP – growing 25% to USD31.4 billion, reinforcing Germany as a brand growth market.”
Meanwhile, Germany’s automobile brands faced challenges in 2024, with three out of the five brands declining in brand value in the 2025 ranking. Mercedez-Benz, the second-ranked German brand and 23rd globally, experienced the steepest drop, falling 11% to USD53.0 billion. This reflects broader concerns about the German automobile sector, as falling demand for electric vehicles (EVs) in Europe, including Germany, has created opportunities for Chinese EV makers to gain ground, as highlighted by BYD, whose brand value rose 16% to USD14.0 billion. In contrast, Audi and BMW were the only two German automobile brands to grow, up 17% and 4% respectively.
Apple is once again the world’s most valuable brand, with its brand value rising 11% to USD574.5 billion. This growth keeps Apple ahead of its closest rival, Microsoft, whose brand value grew 35% to USD461 billion. Except for 2023, when Apple briefly trailed Amazon by a margin of just 1%, it has held the top spot as the world’s most valuable brand since 2021. Google, the world’s third most valuable brand, saw its brand value increase by 24% to USD413 billion. Ongoing investments in AI have enhanced Google’s reputation for innovation while strengthening its consumer appeal and trust.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
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, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast 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 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.