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Mexico’s 50 Most Valuable Brands

18 May 2016
This article is more than 8 years old.

· 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

Penny Erricker
Communications Executive
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 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 over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization 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.

Definition of Brand

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

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 Valuation Approach

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.

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