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Latin America Brands: Petrobras Falls Out
Skol replaces Corona as most valuable brand in Latin America.
BY LATINVEX STAFF
Brazil’s state oil producer Petrobras, ranked the most valuable brand in Latin America in 2012, has completely fallen out of the latest ranking of the top 50 brands from WPP and Millward Brown.
The oil giant has been snarled in a major corruption scandal that has already claimed its CEO and led to the arrest of several of its top executives, while also implicating Odebrecht CEO Marcelo Odebrecht (in jail) and key politicians, including José Dirceu (the former chief of staff of former president Luíz Inácio Lula da Silva). The scandal has led the company to write off billions in assets and has plunged its market value.
In 2012, the Petrobras brand was worth an estimated $10.6 billion, leading to a first place.
The following year, the Petrobras brand fell 45 percent to $5.8 billion, leading to a fourth rank among the 50 most valuable brands in Latin America.
Last year, Petrobras fell further – to 14th place – after its brand value fell another 44 percent to $3.3 billion.
This year its value is estimated at $821 million, which means it didn't even make the top 50 Latin American brands and within Brazil ranks 13th behind such brands as Cileo and Lojas Americanas.
Despite the exit of Petrobras, Latin America’s largest company on the Latinvex 500, the ranking from WPP and Millward Brown shows that the top 50 companies have actually increased their combined brand value by 2 percent to $132 billion.
Brazilian beer brand Skol replaced Mexican beer brand Corona as the most valuable. Skol has a brand value of $8.5 billion compared with $8.47 billion for Corona.
Mexican telecom company Telcel moved up from fourth to third place, with a brand value of $6.2 billion.
Chile’s Copec ($2.8 billion) has the most valuable brand among energy companies, followed by Colombia state oil producer Ecopetrol ($2 billion) and Argentine state oil company YPF ($1.6 billion).
This year, the company with the lowest brand value on the ranking, Chile’s retail brand Paris, has an estimated brand value of $985 million, according to WPP and Millward Brown.
See the complete 2015 list here
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