Moneycontrol BureauThe ranking of the Tata group has nosedived 21 notches to 103 from 82 last year, as per a ranking of top 100 brands of the world by consulting firm Brand Finance, reports the Mint today. This is the first time in nearly a decade the group has not featured in the top 100.
While the most evident reason for the slip appears to be the acrimonious battle between Tata Sons and former Chairman Cyrus Mistry, the rankings for previous years suggest the battle only added to the ongoing decline.
In 2016, the group’s ranking was down from 68 the previous year with brand value taking a hit to around USD 13.7 billion from USD 15.4 billion in 2015. This is from a peak value of USD 18.1 billion in 2013. The group also featured in the global top 50 in 2011 and 2012.
As per the Brand Finance report, Apple – the top global brand in 2016 - had a brand value of USD 145.9 billion.
It is, however, somewhat heartening that the Tata group continues to be the most valuable brand in India ahead of Airtel, LIC, Infosys and State Bank of India, which are part of the global top 500. Reliance Industries, Indian Oil, HCL Technologies and Larsen & Toubro also appear in the global 500 list. Google was the top brand globally, followed by Apple and Amazon.com.
Considering the group companies have been using the importance of the Tata brand to rein in shareholders and directors on important decisions, the Chairman designate of Tata Sons N Chandrasekaran has a tough job cut out to restore the brand image.
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