Brand Wesfarmers supercedes Woodside
Wesfarmers has overtaken Woodside as the most valuable WA brand in the financial world, according to UK consultants Brand Finance.
The company, which released its Brand Finance Australia 100 list today, said the WA-based conglomerate (which owns Kmart, Coles and Target) commanded $1.5 billion in brand value of its own, growing its brand value by 32 per cent in the past year.
Brand Finance also identified Perth-based ISP iiNet as a mover in terms of brand value with 65 per cent growth brings its brand value to $326 million based on "exceptional customer service and the entrepreneurial flair of founder and chief executive Michael Malone".
iiNet announced on Friday that Mr Malone was leaving the company after more than 20 years.
"His recent resignation leaves big shoes for his successor to fill," Brand Value said.
The company said WA's 11 brands totalled $6.2 billion in brand value, the third biggest state in Australia.
Victoria continues to hold off New South Wales as Australia's top state by total brand value.
Its brands total $57 billion, $9 billion ahead of New South Wales.
Woolworths extended its lead over rival supermarket superpower Coles by growing its brand value by 44 per cent to $12 billion, making it Australia's biggest brand.
Coles also had a fairly successful year, growing 25 per cent to $7 billion.
Australia's second most valuable brand is Telstra which was up 59 per cent to $9.3 billion brand value.
BHP Billiton was in third place nationally. ANZ was the most valuable bank brand in Australia at $6.6 billion.
Qantas remains Australia's most valuable airline brand, however it has slipped further down the overall rankings, from 14th to 17th.
Virgin Australia continues to close the gap.
Billabong continues to struggle, falling further to 75th place in 2014 from 43rd.
