Baileys Named 'Ireland's Strongest Brand' In Brand Finance Study
Baileys has been named Ireland's strongest brand, according to the latest Brand Finance Ireland 25 2020 report.
The cream liqueur scored 86.2 out of 100 according to Brand Finance's Brand Strength Index (BSI) rating, as well as a corresponding AAA brand strength rating.
According to Brand Finance, the 'strength' of a particular brand is determined by a number of factors, including marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation.
Baileys was also named the fastest-growing brand in the Brand Finance Ireland 25 rankings this year, recording 115% brand value growth to €1.2 billion.
Commenting on its findings, Brand Finance said that Baileys 'has committed to its three-year long strategy of repositioning the brand, transforming it to a drink that can be consumed on many occasions.
'This, paired with the exponential sales growth of the brand over the previous four years, has placed the spirits giant in a strong position.'
Most Valuable Brand
According to the study, Ireland's most valuable brand is Penneys/Primark, which climbed two places to usurp Allied Irish Banks (2nd) and Guinness (3rd) to take top spot.
The fast fashion firm recorded a 9% rise in brand value to €2.4 billion, Brand Finance said, however its 2020 performance is likely to be tainted by the decision to close its stores globally due to the coronavirus crisis.
Packaging firms Smurfit Kappa (5th, up 0.8% to €1.46 billion) and Ardagh Group (10th, up 6.1% to €800 million) also feature high up the list.
A number of food and nutrition brands also appear in the rankings, with Glanbia-owned brands thinkThin (down 5% to €330 million), Optimum Nutrition (up 2% to €435 million) and BSN (up 6% to €225 million) putting in a 'solid year', according to Brand Finance.
In addition, Kerry Group's Denny (down 4% to €145 million) and Richmond (new entry, brand value €134 million) also appear in the list.
"Despite having managed their way through the three and a half years of protracted Brexit uncertainty, the leading Irish brands are now facing even more uncertainty in 2020," commented Simon Haigh, managing director, Brand Finance Ireland.
"It is anticipated that there will be a limited impact from the COVID-19 pandemic on the food brand owners, Glanbia and Kerry Group, in this year’s top 25 ranking, but the banking (AIB, Bank of Ireland, Ulster Bank), apparel (Penneys/Primark), and aviation (Aer Lingus and Ryanair) brands face a challenging year ahead.”
© 2020 ESM – European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.