OZ Retail Brands Score Big Including Harvey Norman
According to the 2012 Best Retail Brands report released this week, Woolworths comes in number one, Harvey Norman 3rd, Myer 4th and David Jones 5th. It’s not known how the Company measured the retailer’s performance as both David Jones and Harvey Norman are currently struggling in the Australian market. Missing from the top 10 list was JB Hi Fi.
The report claims that global clothing brands such as Uniqlo, Zara and H&M in particular are thriving in some markets particular China and expanding out from key markets such as Beijing and Shanghai to second or third tier cities. However the report states that, despite the thriving consumer conditions seen in emerging markets such as China and India, “Asian retail brands remain behind their Western peers. In fact, there is no truly Asian Retailer yet”.
In markets such as Singapore brands like H&M and Abercrombie and Fitch are preferred over local brands.
The top ten most valuable Asia Pacific brands, according to Interbrand’s Best Retail Brands of 2012 report were as follows: