CHINESE BAIJIU’S BRAND VALUES KEPT GROWING DESPITE COVID-19
By Siulan Law Mathews DipWEST
Source: Brand Finance
The value of Chinese baijiu brands defied gravity amid COVID-19 with Moutai, Wuliangye, Yanghe and Luzhou Laojiao taking up the top four spots on world’s most valuable spirits chart 2020.
According to Brand Finance, a global brand valuation consultancy, Moutai and Wuliangye’s brand values have grown 29% and 30% respectively despite that world’s top alcoholic drinks brands could lose USD33 billion from COVID-19.
Brand Finance assessed the impact of COVID-19 based on the effect of the outbreak on enterprise value, compared to what it was on 1st January 2020.
Chinese baijiu managed to keep their brand values growing despite the pandemic. The category dominated the top 4 spots of the Brand Finance Spirits 25 2020 ranking with Moutai (up 29% to USD39.3b) in first, Wuliangye (up 30% to USD20.9b) in second, Yanghe (down 15% to USD7.7b) in third and Luzhuo Laojiao (up 4.7% to USD5.7b) in fourth.
Also ranked among top 10 is baijiu brand Gujin Gongjiu at ninth place (up 22.5% to USD3.3b), its brand value is just ahead of Bacardi at 10th, but behind Jack Daniel’s, Johnnie Walker, Hennessy and Smirnoff at 5th to 8th places.
Source: Brand Finance
Chinese winery Changyu also did well in the inaugural most valuable champagne & wine brands ranking 2020 by Brand Finance.
Changyu ranks second just after Champagne brand Moët et Chandon. Brand Finance said Changyu’s brand value is worth USD1.34b, while that of Moët et Chandon is just marginally higher at USD1.37b.
Founded in 1819 during the Qing Dynasty, Changyu is China’s oldest and largest winery and is one of the most prolific brands both domestically and abroad.
Other Champagne brands dominated the top five places of this list, with Chandon, Veuve Clicquot and Dom Pergnon on third, fourth and fifth spots respectively.
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