QINGDAO, China, June 12, 2024 /PRNewswire/ -- Haier, the number one brand in the household appliances sector, has once again distinguished itself as the only Internet of Things (IoT) ecosystem brand on the Kantar BrandZ Most Valuable Global Brands 2024 list, marking the sixth consecutive year it has achieved this accolade. This achievement underscores Haier's enduring global leadership and innovation in integrating technology with user-centric solutions.
The announcement from Kantar highlights a significant trend toward deeper integration of technology with branding, an accelerated globalization of brands, along with a greater emphasis on evaluating sustainability. The total value of the top 100 global brands has surged by 20% year-on-year to $8.3 trillion, nearing the peak value recorded in 2022. Since its inception in 2006, the total brand value of these leading global entities has grown by an impressive 474%, with entry thresholds escalating from $4 billion to $19 billion, a 354% increase.
Sustained Growth and Innovation Drive Haier's Success
Haier's consistent rise through the ranks, from its debut at 89th place in 2019 to 58th this year, reflects the substantial growth in brand value facilitated by pioneering IoT-driven ecosystems. In the fiscal year 2023, Haier reported robust financial results with global revenues reaching RMB371.8 billion ($52.3 billion) and profits totaling RMB26.7 billion ($3.76 billion). Zhou Yunjie, Chairman and CEO of Haier Group attributes this performance to their ecosystem brand strategy which acts as a stabilizer, driver, and accelerator for high-quality corporate development.
"Haier has originated and is at the forefront of the ecosystem brand-new paradigm, dedicated to breaking new ground in original technology. By leveraging technological innovation to spur industry innovation, it guides the direction of global industry growth," said Doreen Wang, Kantar China CEO and Global Head of BrandZ, "Haier was the first to introduce an intelligent interaction engine in the industry, enabling unlimited possibilities for enhancing life with users and for industry development with ecological partners, which has led to ongoing enhancements in brand value and rankings."
Prioritizing Two Pillars Tracks to Boost High-quality Development in the Sector
Haier leads the way in ecosystem branding on a global scale, aiming to build lifelong customers by constantly interacting, refining experiences, with users.
- The company's premium brand Casarte exemplifies how it leads through high-end innovative offerings that have seen a thirteen-fold increase over seven years, topping industry averages across price points and market share growth metrics.
- Through the creation of COSMOPlat, an industrial internet platform created by Haier Group, representing the initiative of "big enterprises co-creating, smaller enterprises sharing", it has developed ecosystems in 15 fields, such as chemicals, mold production, and the automotive industry. It has now engaged with more than 900,000 firms, assisted over 160,000 businesses, and has formulated a holistic digital empowerment approach that spans from businesses to industrial parks, to sectors, and ultimately to urban areas.
- In the health sector, anchored in scientific creativity and digital intelligence, strategically focuses on life sciences, clinical medicine, and biotechnology. It provides avant-garde solutions in these sectors while partnering with more than 60 international organizations to serve multiple countries abroad, contributing to the development of an international public health ecosystem.
By securing the position as the only global IoT ecosystem brand on the Kantar BrandZ Most Valuable Global Brands 2024 list for the sixth time in a row, Haier has shown not just its ability to lead in the ecosystem brand paradigm; but also proven its resilience and consistent growth, during its 40-year long journey starting from 1984.
About Haier Group
Founded in 1984, Haier Group is a leading global provider of better life and digital transformation solutions. Based on the purpose of "More Creation, More Possibilities", we've always been user centered, adhered to original technology, and built a landscape of two pillars, Smart Living and Industrial Internet. We have built 10 R&D centers and 143 manufacturing centers around the world. We are the world's only IoT ecosystem brand that has been ranked in the Kantar BrandZ Top 100 Most Valuable Global Brands for six consecutive years, and we have held the No.1 position in Euromonitor's Global Major Appliances Brand for 15 consecutive years.
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