SABIC the fastest growing brand
SABIC of Saudi Arabia rises to 3rd from 8th place with the fastest brand value growth in the table, gaining 78% to reach US$3.7 billion. The renewed effort of SABIC to capitalize on the US shale boom by growing its business has contributed most to the impressive increase in the value of the brand.
Driven by the increase in oil prices, SABIC is also looking for opportunities to access the African market and considering acquisitions in Europe and China, the report said.
“SABIC's remarkable growth in brand value this year can be attributed to the way the company has been rapidly developing its global portfolio. It is expanding its plastics production, foam production capabilities and innovations around the world,” Andrew Campbell, Executive Director of Brand Finance Middle East, commented.