The turnaround of Coles has boosted Wesfarmers into the top 10 of Australia's most valuable brands while retail rival Woolworths snared the top spot, a new study reveals.
The Brand Finance Australia study found the better performance of Coles and other retail brands in Wesfarmers' portfolio had increased the brand portfolio value of Wesfarmers to $4.4 billion, moving it from its previous ranking of 48 from last year to six in 2009.
The study showed that Wesfarmers' brand value had risen 30.1 per cent over the past year.
The study assesses the brand portfolios owned by ASX-listed companies, with the value defined as the value of trade marks and trade mark licences, together with associated good will.
Woolworths moved into top position after coming in second last year, with its brand valued at $6.3 billion, an increase of 5.4 per cent on the previous year.
The four major banks maintained their positions in the top 10 with Westpac ranked second at $6.18 billion following its acquisition of St George Bank, National Australia Bankwas third at $6.12 billion, Commonwealth Bank came in fourth with $4.9 billion and ANZ was seventh at $3.9 billion.
Brands that performed poorly during the past year were Qantas which dropped out of the top 10 to number 12 after its brand value fell 27.5 per cent to $1.95 billion and Tabcorp dropped two spots to 16 at $1.15 billion.
