30 December 2016 - Janet Bird
Online giant Amazon has been named the world's most valuable retail brand.
A report commissioned by leading market research company Brandz to identify the top 25 most valuable global retail brands put the retail colossus in first place, with an estimated value of $98.98 billion USD.
Chinese e-commerce behemoth Alibaba came second, with a brand value of $49.29 billion USD. The remaining spots in the top five went to US-based Home Depot, valued at $36.44 billion USD; Asda owners Walmart, with a brand value of $27.27 billion USD, and Ikea, valued at $18.08 billion USD.
The report, which was put together by Kantar Millward Brown, said Amazon had consistently expanded into new areas, and was now as much a technology and media company as it was a retailer. By continually seeking to broaden its reach and dominate across consumer categories, the report suggested it had managed to increase its brand value by a staggering 59 percent year on year.
A number of other retailers well known in Britain made it into the top 25, including Aldi, Boots parent company Walgreens, Lidl, Marks & Spencer and Tesco.