2025

Switzerland50

TheannualreportonthemostvaluableandstrongestSwissbrands

Swissstabilityshines:top50brandsworthCHF143.7billion

+Francstrengthshaves4%offSwissbrandvalues

+Nestléfacespricingpressure,brandvalueslides9%butremainsontop

+Rolexrises29%,dominatesSwissluxurydespitemarketheadwinds

Contents

Foreword

5

DavidHaigh,Chairman&CEO,BrandFinance

CountryOverview

6

ValuationAnalysis 8

MostValuableSwissBrands2025 9

MostValuableBrand:Nestlé

11

FastestGrowingBrandValue:CEVA

12

BrandtoWatch:Rolex

13

BrandStrengthAnalysis 14

BrandValueRanking(CHFm) 17

Methodology 18

OurServices 24

?2025Allrightsreserved.BrandFinancePlc.

BrandFinanceSwitzerland502025 /switzerland3

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About

BrandFinance

BridgingthegapbetweenMarketingandFinance

BrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingandfinance'.Formorethan25years,wehavehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline.

Quantifyingthe

financialvalueofbrands

Weputthousandsoftheworld’sbiggestbrandstothetesteveryyear.Rankingbrandsacrossallsectorsandcountries,wepublishover100reportsannually.

Uniquecombinationofexpertise

Ourteamshaveexperienceacrossawiderangeofdisciplines

tobrandstrategyandvisualidentity,

frommarketingandmarketresearch,

totaxandaccounting.

ontechnicalcredibility

Pridingourselves

BrandFinance,acharteredaccountancyfirmregulatedbytheInstituteofCharteredAccountantsinEnglandandWales,isthefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.Ourexpertscraftedstandards(ISO10668andISO20671)andourmethodology,certifiedbyAustrianStandards,isofficiallyapprovedbytheMarketingAccountabilityStandardsBoard.

Foreword

Theglobalbusinesslandscapeisconstantlyevolving,shapedbyeconomicshifts,technologicaladvancements,andchangingcustomerexpectations.Inthisdynamicenvironment,strongbrandscontinuetostandaskeydriversofbusinesssuccess,enablingorganisationstodifferentiatethemselves,attractloyalcustomers,

andbuildresilienceinanincreasinglycompetitiveworld.

DavidHaighChairman&CEO,BrandFinance

TheenduringimportanceofbrandstrengthissupportedbyBrandFinance’sextensiveresearch.Awell-managedbranddeliversmeasurablevaluebeyondcustomerattractionandretention–itenhancestalentacquisition,investorconfidence,andorganisationalagility.Intoday’smarketplace,astrongbrandisnotjustanassetbutastrategicimperative.

BrandFinancehasdeepeneditsinvestmentinunderstandingcustomerperceptionslikeneverbefore.Thisyear,theBrandStrengthIndexhasevolved

toincludemetricsbasedonfamiliarityandperceptionsofbothfunctionalcredibilityandemotionalappealversuscompetitors.Thisupdatedmodelisdesignedtobepredictiveofgrowth,capturingthedriversofvaluesuchasincreaseddemand,higherwillingnesstopay,andstrongercustomeradvocacy.Theinsightsgatheredfrom

over170,000respondentsacross41sectorsand31countriesinthisyear’sGlobal500reporthighlighttheimportanceofthesefactorsinshapingtheworld’sstrongestandmostvaluablebrands.

ApersistentchallengeistheassumptionthatChiefFinancialOfficers

(CFOs)areopposedtoinvestinginbrands,butwebelievethisisamisconception.AmbitiousCFOsunderstandthatastrongbrandsupportsbusinesssuccessbutmanyarereluctanttoallocateresourcestowardlong-termbrand-buildingwithoutdatasupportingthisapproach,oftenresultinginaprioritisationofshort-termperformancemarketing.Thefindingsfromthisyear’sreportunderscoretheimportanceofdatainaligningtheprioritiesofcorporateleaders.BrandvaluationempowersCFOstoinvestinbrandwithconfidence,resultinginbusinessdecisionsfocusedongrowingandenduringbrandvalueandstrength.

Whetheryouareaimingtostrengthenyourbrandorquantifyitscontribution

toyourbusiness’ssuccess,theBrandFinanceteamisheretosupportyouwithbrandvaluationsthatalignmarketingandfinancetoaccelerategrowth.Weinviteyoutoexploretheinsightswithinthisreportandcollaboratewithusinshaping

amoreprofitableandsustainablefutureforyourbrand.

BrandFinanceSwitzerland502025 /switzerland5

CountryOverview

CountryOverview

TheBrandFinanceSwitzerland502025reporthighlightstheresilienceandglobalappealofSwissbrands.Theaggregatebrandvalueofthetop50SwissbrandsremainsstableinUSdollarterms,increasingslightlyfromUSD168.4billiontoUSD170.0billion,

amodestriseofjustunder1%.However,whenmeasuredinSwissFrancs,theaggregatevaluefellby4%,fromCHF150.2billiontoCHF143.7billion.Thisdiscrepancyisattributedprimarilytocurrencyfluctuations,withtheSwissFrancstrengtheningagainsttheUSdollar.

Consequently,globalexport-drivenbrandslikeNestlé(brandvaluedown9%toCHF16.9billion),Rolex(brandvalueup29%toCHF15.9billion),UBS(brandvaluestableatCHF10.9billion)andZurich(brandvaluedown3%toCHF8.6billion),whichearnasignificantportionoftheirrevenuesinternationally,experiencedvaluationpressureswhenconvertedbackintothestrongerdomesticcurrency.

Asignificantconcentrationofbrandvaluelieswithinthose"bigfour"Swissbrands(Nestlé,Rolex,UBS,andZurich),whichtogetheraccountforjustoverone-thirdofthetotalvalueofSwitzerland'stop50brands.

TheseflagshipbrandsrepresentthefamousSwissbrandingtrifecta:food,luxurywatches,andfinancialservices,includingbanking.TheirprominenceunderscoresSwitzerland'sdistinct

reputationforquality,precision,anddependability,traitsthattranslateintoexceptionalbrandstrengthandglobalrecognition.

Indeed,Swissbrandsconsistentlyscorehighly

onbrandstrengthindices,reflectingwidespreadinternationaladmirationfortheiruncompromisingstandardsandsuperiorperformance.

Thevaluations,asof1January2025,establishabenchmarkprecedingrecentinternationaleconomicshifts,providingarobustbaselinetoassessfutureimpacts.Swissbrands,whicharedeeplyintegratedintoglobalmarkets,remainparticularlysensitivetointernationaltradedynamics,currencyfluctuations,andbroadermacroeconomictrends.

Despitetheseexternalpressures,Switzerland’sleadingbrandsretaintheirrobustglobalpositioning,capitalisingontheirenduringreputationforexcellencetosustaintheirstrengthandvalueinchallengingeconomicenvironments.

BrandFinanceSwitzerland502025 /switzerland7

ValuationAnalysis

MostValuable

SwissBrands2025

ThetoptenmostvaluableSwissbrandsmaintainedtheirstrongglobalpositions,reflectingSwitzerland’skeyeconomicstrengthsinfood,luxurygoods,finance,andinsurancesectorsasoutlinedabove.Nestlé,Rolex,UBS,andZurichmaintainedtheirdominanceasthehighest-valuedSwissbrands,representing

keysectorsoftheSwisseconomyglobally.

Rolex(brandvalueup29%toCHF15.9billion)achievedsignificantgrowthduetostrongdemandinhigh-endluxurymarketsandsuperiorbrandstrength.

BrandFinanceanalystsidentifiedthatRolexmaintainsareputationforquality,timelessdesign,

Top10MostValuableSwissBrands2025

#1 Nestlé

#2 Rolex

#3 UBS

?BrandFinancePlc.2025

CHF16.9bn

-9%

CHF15.9bn

+29%

CHF10.9bn

0%

whichfeedsintostrongvalueretentiononthe secondarymarket,achievingincreasedrevenues

despiteoverallcoolingintheluxurywatchmarket.

UBS(CHF10.9billion)demonstratedstability,

#4 Zurich

CHF8.6bn

-3%

consolidatingitspositionthroughtheintegration ofCreditSuisse,whichreinforceditsprominence

inprivatebankingandassetmanagement,despite

aslightdipinoverallbrandstrength. #5

Roche

CHF6.2bn

-21%

Zurich’sbrandvaluefellmarginally

(-3%toCHF8.6billion)inSwissFrancsbut

grewmarginallywhenvaluedinUSDollars.Givenitsglobalcustomerbase,itsoverallvaluehasincreased,butnotasquicklyastheSwissFranchasappreciatedthisyear.Thebrandeffectivelyleveragedrateincreases,bolsteringrevenuedespitethechallengesposedby

#6SwissRe

CHF5.3bn

+3%

CHF5.2bn

claimsinflation.

Rochefacedanotabledeclineinbrandvalue(down21%toCHF6.2billion).Itsbrandstrengthdivergessignificantlyindifferentpartsoftheworld,withBrandFinanceresearchfindingithashighratingsforknowledge,credibilityandappeal

inEurope,butmuchlowerratingsinAsia.

#7 Glencore

-1%

CHF5.2bn

#8 Swisscom

-13%

SwissRe(brandvalueup3%toCHF5.3billion)improveditsposition,benefitingfromdisciplinedunderwritingandincreasedprofitabilitydrivenbyheightenedreinsurancedemand,notablyduetohighernaturalcatastropheoccurrences.Thisillustratesresilienceinoperationalmanagementandeffectivecapitalutilisation.

#9

#10

Lindt

SwissLife

CHF4.2bn

+9%

CHF4.1bn

+19%

BrandFinanceSwitzerland502025 /switzerland9

ValuationAnalysis

Glencore(brandvaluedown1%toCHF5.2billion)demonstratedremarkableresilienceinavolatilecommoditiesmarket,whichunderscoresitsdiversifiedglobalpresenceandrobustoperationalmanagement.

TheperformanceofthesetopSwissbrandsreflectsSwitzerland’seconomicresilience,

withpremiumbrandsinluxury,finance,

andinsurancemaintainingtheirglobalmarket

strengths.However,consumersensitivity

topriceincreases,asseeninNestlé’scase,highlightsthedelicatebalancebrandsmustmaintainbetweenpricestrategiesandconsumerexpectations,particularly

amidglobaleconomicpressures.

BrandFinanceSwitzerland502025 /switzerland10

MostValuableBrand

Nestlé

Nestlé,despitebeingthemostvaluable

Swissbrand(CHF16.9billion),suffereda9%

fallinbrandvalue.BrandFinanceresearchfoundthatmetricsacrossmostareasoffamiliarityandpreferenceimproved,exceptforpricepremium.Consumerdissatisfactionwithpriceincreases,previouslytoleratedduringperiodsofheightenedinflation,nowsuggestsashiftinconsumerexpectations.ThischangeindicatesweakeningconsumertrustandheightenedsensitivitytowardsNestlé’spricingstrategies.

BrandFinance’sextensivebrandstrengthmetricsratesbrandsoutoftenondifferentdimensions.Researchrevealedstrongconsumerfamiliarity(9.68),understanding(7.60),andcredibility(7.38),

butlowerengagement(5.80),preference(6.33),andnotably,priceacceptance(6.25).

ThesescoresunderlinethechallengeNestléfaces:maintainingitspremiumpricingpositionwithoutalienatingprice-sensitiveconsumers.Whileitsfoundationalreputationremainsrobust(7.10),thedeclineinbrandvaluedirectlycorrelateswithdecliningconsumeracceptanceofcontinuedpriceincreases,highlightingacriticalstrategicareathatneedscarefulreassessment.Nestlémuststrikeabalancebetweenpremiumpricingandpreservingvalueperceptiontopreventfurthererosionofconsumergoodwillandbrandequity.

NestléBrandValueTrendLine|2008-2025(CHFbn) ?BrandFinancePlc.2025

20

10

0

200820092010201120122013201420152016201720182019202020212022202320242025

BrandFinanceSwitzerland502025 /switzerland11

FastestGrowingBrandValue

CEVA

Switzerland’sfastest-growingbrandin2025

isCEVALogistics,recordinganexceptional46%growth,increasingitsbrandvaluetoCHF782million.ThisimpressivegrowthstemsfromasignificantrestructuringbyparentcompanyCMACGM,whichstrategicallyacquiredandconsolidatedmultiplelogisticscompaniesundertheCEVAbrand.

NotableacquisitionsincludedBolloréLogistics(February2024),GEFCOandWincanton(bothJanuary2024),andStellarValueChainSolutions(November2023).TheseestablishedlogisticsbrandswerefullyintegratedintoCEVA,significantlyexpandingitsmarketpresence,capabilities,andbrandequity.

Therapidintegrationoftheseentitiesunder

theCEVAumbrellastreamlinedbrandarchitecture,resultinginprecisemarketpositioningandenhancedoperationalefficiencies.TheconsolidationsignificantlyincreasedCEVA'svisibilityandmarketfootprint,propellingitsgrowthfaraheadofcompetitors

intheSwisslogisticssector.

Thisstrategyeffectivelyleveragedthecollectivereputationsandstrengthsoftheacquiredbrands,demonstratingthepoweroffocusedbrandconsolidationindrivingsubstantialincreasesinvalueandmarketinfluence.

CEVADriversofChange ?BrandFinancePlc.2025

2024BrandValue

BrandStrength

Financial

Macroeconomic

2025BrandValue

500 600 700

BrandFinanceSwitzerland502025 /switzerland12

BrandtoWatch

Rolex

Rolexisundoubtedlyastandoutinthe

BrandFinanceSwitzerland50for2025,furthercementingitspositionasSwitzerland’spremierluxurywatchbrand.Withasubstantialbrandvaluegrowthof29%,increasingfromCHF12.3billion

in2024toCHF15.9billionin2025,Rolexhassuccessfullynavigatedachallengingluxurymarketbyemphasisingexclusivity,premiummodels,andexceptionalcraftsmanship.

EarningaBrandStrengthIndex(BSI)scoreof89.9,RolexmaintainsitsAAA+rating,reflectingrobustbrandequityandresilience.

Rolex’srecentperformanceunderscores

itsmarketdominance.Itsurpassedthe10billionSwissfrancssalesmilestonein2024,commandingroughlya30%marketshare,faroutpacingkeyrivalssuchasCartierandOmega,bothofwhichfacedheadwindsduetothedownturnintheluxury

market.ThisstrengthstemsfromRolex’sunwaveringcommitmenttomaintaininghighperceivedquality,timelessdesign,andoutstandingvalueretention—

characteristicsparticularlyvaluedamidfluctuatingmarketconditionsanddecliningspeculativepremiumsinsecondarymarkets.

BrandFinance’sdetailedresearchhighlightsRolex’snear-perfectcredibilityandreliabilityscores(10.00each),affirmingitsoutstandingreputationamongconsumers.Additionally,Rolexscoreshighlyinpreference(10.0)andfamiliarity(9.4),demonstratingpowerfulconsumeraffinity.

However,thereremainspotentialforimprovementinpriceacceptance(7.0),suggestingthatwhilecustomersdeeplyvalueRolexwatches,sensitivitytopricingisafactorRolexmightstrategicallyaddressinfuturemarketing.

Givenitssolidfinancialmetrics,enviablereputation,andunmatchedmarketpresence,Rolexremains

aSwissbrandworthwatchingcloselyasitevolvestomaintainitsluxuryleadershipinanincreasinglycompetitiveenvironment.

BrandFinanceSwitzerland502025 /switzerland13

BrandStrengthAnalysis

BrandStrengthAnalysis

ThestrongestSwissbrandsarethose

thathaveearnedareputationfordelivering

ontheirbrandpromisesofconsistentexcellence.RolexremainsSwitzerland’sstrongestbrandwithanexceptionalBrandStrengthIndex(BSI)of89.9,highlightingconsistentbrandstrengthdriven

byglobalrecognitioninluxurywatchmaking.Rolex’spowerfulmarketpresenceremainsundisputed.

SwisscomcloselyfollowswithaBSIof

,strengthenedbyitsstrategicacquisitionofVodafoneItalia.ThisEUR8billioninvestmentaimstomergeVodafoneItaliawithSwisscom’s

ItaliansubsidiaryFastweb,significantlyenhancingSwisscom’scompetitiveedgeinEuropeantelecommunications.

SwissPostsignificantlyimproveditsbrandstrength,nowratedAAAat89.4.Itsrapidascentreflectsheightenedperformanceandtrustin

itslogisticsandpostalservices,vitalfortheSwisseconomy.

SwissTop10 ?BrandFinancePlc.2025

StrongestBrands2025

#1 Rolex 89.9

#2 Swisscom 89.8

#3 SwissPost 89.4

#4 Lindt 87.7

#5 Adecco 82.4

#6 Swiss 82.1

#7 Hirslanden 81.3

#8 Jaeger-LeCoultre 80.7

#9 Maggi 78.8

#10 JuliusBaer 78.2

SwissAirBrandStrengthAttributesHeatMap ?BrandFinancePlc.2025Weakerperformance Strongerperformance

Factor Switzerland Germany UK

BrandPerceptions

Knowledge

Credibility

Appeal

CustomerBehaviours

ChoicePropensity

Advocacy

PriceAcceptance

BrandFinanceSwitzerland502025 /switzerland15

BrandStrengthAnalysis

Lindt,despitefacingalegalchallengeregardingproductsafetyintheUnitedStates,

maintainsastrongbrand(BSI:87.7).Itspremiumpositioningcontinuestoresonatewithconsumers.However,consumerperceptionsininternationalmarketsrequirecarefulmanagement.

Adecco,enteringthetop5strongestbrandswithaBSIof82.4,experiencedsubstantialimprovementduetogrowthincommercial

services,reflectingenhancedmarkettrustandoperationalperformance.

Jaeger-LeCoultre(BSI:80.7),reveredas

the"watchmaker'swatchmaker,"maintainshighreputationalscoresdrivenbyprecision,innovation,andheritagecraftsmanship.

Itsdedicationtotechnicalsophisticationandclassicluxuryenhancesitsstandingamongconnoisseurs.

BrandFinanceSwitzerland502025 /switzerland16

BrandValueRanking(CHFm)

Top50mostvaluableSwissbrands1-50

2025

Rank

2024

Rank

Brand

Sector

2025

BrandValue

BrandValueChange

2024

BrandValue

2025

BrandRating

1

1 0

Nestlé

Food

16,887

-8.9%

18,527

AA+

2

2 0

Rolex

Apparel

15,875

+28.9%

12,315

AAA+

3

3 0

UBS

Banking

10,882

-0.2%

10,902

A+

4

4 0

Zurich

Insurance

8,609

-3.3%

8,905

A+

5

5 0

Roche

Pharma

6,164

-21.3%

7,834

AA-

6

8 2

SwissRe

Insurance

5,261

+2.6%

5,129

A

7

7 0

Glencore

Mining,Iron&Steel

5,205

-1.3%

5,271

AA-

8

6 1

Swisscom

Telecoms

5,184

-13.0%

5,957

AAA+

9

11 2

Lindt

Food

4,156

+8.5%

3,830

AAA

10

13 2

SwissLife

Insurance

4,114

+19.2%

3,453

AA-

11

9 1

ABB

Engineering

12

10 1

Nescafé

SoftDrinks

13

14 2

Holcim

Engineering

14

18 2

Adecco

CommercialServices

15

15 0

Novartis

Pharma

16

17 2

Kuehne+Nagel

Logistics

17

20 2

STMicroelectronics

Semiconductors

18

12 1

Omega

Apparel

19

29 2

SGS

CommercialServices

20

19 1

Sika

Engineering

21

21 0

Nespresso

SoftDrinks

22

16 1

TAGHeuer

Apparel

23

28 2

Maggi

Food

24

22 1

Axpo

Utilities

25

27 2

JuliusBaer

Banking

26

39 2

SwissPost

Logistics

27

35 2

Pictet

Banking

28

23 1

Helvetia

Insurance

29

25 1

Sunrise

Telecoms

30

26 1

Schindler

Engineering

31

33 2

Syngenta

Chemicals

32

30 1

Geberit

Engineering

33

34 2

ZürcherKantonalbank

Banking

34

32 1

Jaeger-LeCoultre

Apparel

35

38 2

BarryCallebaut

Food

36

40 2

Logitech

Electronics

37

43 2

sonova

Pharma

38

37 1

Baloise

Insurance

39

52 2

CEVA

Logistics

40

36 1

Tissot

Apparel

41

47 2

BKW

Utilities

42

49 2

Stadler

Engineering

43

46 2

Longines

Apparel

44

54 2

Swiss

Airlines

45

50 2

Hirslanden

HealthcareFacilities

46

44 1

STOXX

CommercialServices

47

41 1

Alpiq

Utilities

48

45 1

Givaudan

Chemicals

49

51 2

Sandoz

Pharma

50

42 1

Swatch

Apparel

BrandFinanceSwitzerland502025 /switzerland17

Methodology

Definitions

BrandValue

[Meta]

+EnterpriseValue

Thevalueoftheentireenterprise,madeupofmultiplebrandedbusinesses.

Whereacompanyhasapurelymonobrandedarchitecture,the‘enterprisevalue’isthesameas‘brandedbusinessvalue’.

[Facebook]

+BrandedBusinessValue

Thevalueofasinglebrandedbusinessoperatingunderthesubjectbrand.

Abrandshouldbeviewedinthecontextofthebusinessinwhichitoperates.BrandFinancealwaysconductsabrandedbusinessvaluationaspartofanybrand

valuation.Weevaluatethefullbrandvaluechaininordertounderstandthelinksbetweenmarketinginvestment,brand-trackingdata,andstakeholderbehaviour.

[Facebook]

+BrandValue

ThevalueofthetrademarkandassociatedmarketingIPwithinthebrandedbusiness.

BrandFinancehelpedtocrafttheinternationallyrecognisedstandardonBrandValuation–ISO10668.

Itdefinesbrandasamarketing-relatedintangibleassetincluding,butnotlimitedto,names,terms,signs,symbols,logos,anddesigns,

intendedtoidentifygoods,servicesorentities,creatingdistinctiveimagesandassociationsintheminds

ofstakeholders,therebygenerating

economicbenefits.

BrandFinanceSwitzerland502025 /switzerland19

BrandValuationMethodology

WhatisBrandValue?

Brandisdefinedasabundleoftrademarksand

associatedIPwhichcanbeusedtotakeadvantageoftheperceptionsofallstakeholderstoprovideavarietyofeconomicbenefitstotheentity.

Brandvaluereferstothepresentvalueofearningsspecificallyrelatedtobrandreputation.Organisationsownandcontroltheseearningsbyowningtrademarkrights.

Allbrandvaluationmethodologiesareessentiallytryingtoidentifythis,althoughtheapproachandassumptionsdiffer.Asaresult,publishedbrandvaluescanbedifferent.

Thesedifferencesaresimilartothewayequityanalystsprovidebusinessvaluationsthataredifferenttooneanother.Theonlywayyoufindoutthe“real”valueisbylookingatwhatpeoplereallypay.

Asaresult,BrandFinancealwaysincorporatesareviewofwhatusersofbrandsactuallypay

fortheuseofbrandsintheformofbrandroyaltyagreements,whicharefoundinmoreorlesseverysectorintheworld.

Thisissometimesknownasthe“RoyaltyRelief”methodologyandisbyfarthemostwidelyusedapproachforbrandvaluationssinceitisgroundedinreality.

Itisthebasisforapublicrankingbutwealwaysaugmentitwitharealunderstandingofpeople’sperceptionsandtheireffectsondemand–fromourdatabaseofmarketresearchonover6,000brandsinover41markets.

Disclaimer

BrandFinancehasproducedthisstudywithanindependentandunbiasedanalysis.ThevaluesderivedandopinionsproducedinthisstudyarebasedonlyonpubliclyavailableinformationandcertainassumptionsthatBrandFinanceusedwheresuchdatawasdeficientorunclear.BrandFinanceacceptsnoresponsibilityandwillnotbeliableintheeventthatthepubliclyavailableinformationrelieduponissubsequentlyfoundtobeinaccurate.Theopinionsandfinancialanalysisexpressedinthereportarenottobeconstruedasprovidinginvestmentorbusinessadvice.BrandFinancedoesnotintendthereporttoberelieduponforanyreasonandexcludesallliabilitytoanybody,governmentororganisation.

BrandFinanceSwitzerland502025 /switzerland20

BrandValuationMethodology

BrandImpact

Wereviewwhatbrandsalreadypayinroyaltyagreements.Thisisaugmentedbyananalysisofhowbrandsimpactprofitabilityinthesectorversusgenericbrands.

Thisresultsinarangeofpossibleroyaltiesthatcouldbechargedinthesectorforbrands(forexamplearangeof0%to2%ofrevenue).

BrandStrength

Weadjusttheratehigherorlowerforbrandsby

analysingBrandStrength.ThisBrandStrengthanalysisisbasedontwocorepillars:“BrandPerceptions”whichrelatetothelevelofbrandfamiliarityandtheviewsstakeholdershaveofabrand’soffer;and“CustomerBehaviours”whicharetheimpactsthatthoseperceptionshaveondemand,price,andadvocacy.

EachbrandisassignedaBrandStrengthIndex(BSI)scoreoutof100,whichfeedsintothebrandvaluecalculation.Basedonthescore,eachbrandisassignedacorrespondingBrandRatinguptoAAA+inaformatsimilartoacreditrating.

BrandImpactxBrandStrength

TheBSIscoreisappliedtotheroyaltyrangetoarrive

ataroyaltyrate.Forexample,iftheroyaltyrange

inasectoris0-5%andabrandhasaBSIscoreof80outof100,thenanappropriateroyaltyratefortheuseofthisbrandinthegivensectorwillbe4%

ForecastBrandValueCalculation

Wedeterminebrand-specificrevenuesasaproportionofparentcompanyrevenuesattributabletothebrandinquestionandforecastthoserevenuesbyanalysing

historicrevenues,equityanalystforecasts,andeconomicgrowthrates.

Wethenapplytheroyaltyratetotheforecastrevenuestoderivebrandrevenuesandapplytherelevantvaluationassumptionstoarriveatadiscounted,post-taxpresentvaluewhichequalsthebrandvalue.

BrandFinanceSwitzerland502025 /switzerland21

BrandStrengthMethodology

AnalyticalrigourandtransparencyareattheheartofourapproachtobrandmeasurementatBrandFinance.

Therefore,inordertoadequatelyunderstandthestrengthofbrandsweconductastructured,

quantitativereviewofdatathatreflectthe‘BrandValueChain’ofbrand-buildingactivities,leadingtobrandawareness,perceptionsandonwardstobrand-influencedcustomerbehaviour.

Tomanagethe‘BrandValueChain’processeffectively

wecreateandusethe“BrandStrengthIndex”(BSI).ThisindexisessentiallyamodifiedBalancedScorecardsplitbetweentheBrandPerceptionsandCustomerBehaviours–asmeasuredthroughourGlobalBrandEquityMonitorresearch.ThisBrandStrengthIndex

issubsequentlyexplainedthroughananalysisofdiagnosticattributesknownas“BrandInputs”whichhighlighttheactionsmarketerscantaketobuildcorebrandstrength.

BrandStrengthIndex

BrandPerceptions

Perceptionsofthebrandamongthosefamiliarwiththemaswellastheoverallfamiliarityitself,givenitsroleasmultiplyingtheeffects

ofstrongperceptions.

CustomerBehaviours

Metricsrepresentingthesuccessofthebrand

inachievinghigherconsideration,priceacceptanceandcustomeradvocacy.

BrandStrengthIndex

BrandFinanceSwitzerland502025 /switzerland22

BrandStrengthMethodology

1.AttributeSelectionandWeighting

Wefollowageneralstructureincorporatingthebrandperceptionsandtheoutcomesthattheycauseoncustomerbehaviours.Thiscoversthecorebrandmetricswhichmattermostandhavebeenanalysed

fortheirimpactonmarketshare

andrevenuegrowth.

Theseattributesareweightedaccordingtotheirimportance

indrivingthefollowingpillar:BrandPerceptionsindrivingCustomerBehaviours;andfinally,theimportanceofCustomerBehavioursmetrics

indrivingmarketshare,revenue,

andultimately,businessvalue.

2.DataCollection

Brand’sabilitytoinfluencepurchase

thegeneralpublicontheirperceptions

dependsprimarilyonpeople’