Press release -
Brand ranking puts Discovery as one of the most valuable brands in the country
The announcement of the Brand Z Top 30 Most Valuable South African brands 2019 put a spotlight on brand resilience in the context of a challenging macroeconomic climate. This being the second year in which BrandZ has ranked South African Brands, Discovery Limited ranked at number seven, with a brand value of $1.6 billion. Discovery moved up two places up from last year, remaining the highest-placed insurer in the Top 30.
The cumulative Brand Value of the top 30 brands in South Africa came in at $37.1 billion, a 13% decline from 2018, primarily due to the tough environment. Discovery weathered the storm resiliently in comparison to other brands, with a more muted decline of 4%.
Based on the brand contribution metric, which measures the influence that a brand has on financial value, Discovery leads in both the financial services and healthcare categories among the Top 30 brands.
The Group also won the award for the healthiest brand, which is calculated based on five components – purpose, innovation, communications, brand experience and love.
Firoze Bhorat, Chief Marketing Office at Discovery says differentiation and innovation are part of the company’s DNA. “The values that were developed more than 20 years ago at the start of our journey remain at Discovery’s core, and it is why people trust Discovery as a brand. With the strength of the brand grounded in a very consistent message, this trust has allowed us to traverse move into many different local industries, and has given Discovery a ticket to access more than 20 international markets.”
Commissioned by WPP, the valuation behind the BrandZ™ Top 30 Most Valuable South African Brands was conducted by brand equity research experts Kantar. The methodology mirrors that used to calculate the annual BrandZ Top 100 Most Valuable Global Brands ranking, which is now in its 14th year.
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Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness markets. Since inception, Discovery has been guided by a clear core purpose – to make people healthier and to enhance and protect their lives. This has manifested in its globally recognised Vitality Shared-Value insurance model, exported to over 19 countries and reaching over 11 million members. Discovery trades on the Johannesburg Securities Exchange, with a market cap of $7 billion.
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