By Joe Gerrard • 27 March 2019 • 16:40
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TWO leading Spanish retailers are among the 50 most valuable brands in that sector worldwide, according to a new industry report.
El Corte Ingles and Mercadona both made it into Brand Finance’s Top 50 global ranking in its Retail 2019 report.
The El Corte Ingles department store came 28th in the ranking, climbing five positions compared to last year which is the sixth-largest increase of any company in the table. The Mercadona supermarket entered the ranking for the first time this year.
Teresa de Lemus, Managing Director of Brand Finance Spain, said the country now accounted for 1 per cent of the retail sector’s total global value.
“The entry of Mercadona represents an increase of 174 per cent in the contribution of value of the Spanish retail sector to the world total, with a value of €7.86 billion in 2019 compared to €3.516 billion in 2018,” de Lemus said.
Brand Finance gave both El Corte Ingles and Mercadona a company strength rating of AA. A total of 17 companies in the top 50 were also given an AA rating.
British company Marks & Spencer fell out of the ranking this year, with the report finding that its brand value fell by 15 per cent.
Supermarket Tesco, whose strength was rated at AA+, came 12th in the ranking. Its place in the table stayed the same compared to last year.
Brand Finance ‘s report ranked Amazon as the world’s most valuable retailer, ahead of Walmart, Home Depot, Lowe’s, Ikea, CVS Health, Cosco, Target, Walgreens and Alibaba.
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