Brand value is understood as the net economic benefit that a brand-owner would achieve by licensing the brand on the open market.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.
Guinness topped the list of Irish brands, with the top 10 brands celebrating an increase in brand value, a reflection of the upturn in the Irish economy, which has been undergoing a recovery for the past few years, states the report.
Guinness is considered by many to encapsulate the very essence of ‘Irishness’.
Elsewhere, Jameson maintained its eighth position in the Top 10 showing a 21% increase in value from €788 million last year to €954 million in 2019.
Baileys Irish Cream occupied 12th position and Tullamore Dew 23rd position.
Baileys is Ireland’s strongest brand, with a Brand Strength Index score of 83.7 out of 100 and a corresponding brand strength rating of AAA-. Guinness is the only other brand in the ranking to achieve an AAA-rating.
“Ireland’s home-grown brands continue to be very strong ambassadors for the nation’s economy which increased by 7.5% in 2018 – the highest growth rate among EU members,” commented the Managing Director of Brand Finance Simon Haigh, “This momentum has been pivotal in Brand Finance expanding its Irish brand valuation ranking from 10 brands to 25 in 2019”.