Flipkart, Rivigo in Interbrand’s top 40 emerging brands list
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New Delhi: The poster boy of Indian e-commerce, Flipkart, along with technology-enabled logistics firm Rivigo have made it to the global list of top 40 emerging brands featured in “Interbrand breakthrough brands”, a report published by Interbrand, part of the Omnicom Media Group, an advertising and public relations conglomerate. The second edition of the annual report released on Tuesday in partnership with Facebook, the New York Stock Exchange (NYSE) and Ready Set Rocket, a digital agency, recognizes 40 next-generation, disruptive brands that define progress and the potential to grow.
Interbrand’s 2017 report selected 40 brands out of over 350 nominations. The study was restricted to brands that are less than 10 years old. Interbrand picked its final list of brands on the basis of growth potential, the capacity to grab attention and adapt to the changing needs of the consumers, originality and the strength of the business model.
Brands like Paytm, a fast-growing fintech company, along with telecom major Airtel, Samsung and Reliance Jio have found a special mention in the report as they are offering access to mobile technology and internet to the consumers. The report has identified both mobile technology and data as the biggest growth drivers in the APAC region.
“India is emerging as a crucible for the breakthrough brands due to the fact that our demographic has upgraded, there is an increase in disposable incomes making India one of the biggest consumption markets globally. There is a genuine need of improving lives across business and life—critical areas of money and mobility on one hand, health and lifestyle on the another. The other big phenomenon is that the larger Indian brands like Reliance and Airtel have entrepreneurial mindset. They continue to disrupt themselves, spawning breakthrough businesses within their folds,” said Ashish Mishra, managing director, Interbrand India.
As per the report, Flipkart features in the “experiences on demand” category, which lists brands that have disrupted the way consumers buy and sell helping them lead an on-demand lifestyle. Flipkart, which has a valuation of $11.6 billion and a funding of $4.5 billion, has emerged as a hallmark of growth in Asia. The firm is also investing in payment and retail tech across the continent, making it one of the region’s biggest breakthrough catalysts.
“We thank our customers for the tremendous love they’ve shown towards Flipkart over the past decade. This recognition is special because it comes in the midst of our 10 year anniversary celebrations. As a brand, we stand for making online shopping accessible and affordable for millions of Indians by continuously innovating for the unique needs of Indian customers,” a Flipkart spokesperson said.
On the other hand, Rivigo features in “the working future” category which lists brands that are leveraging technology to drive workplace innovation. The firm has been valued at $1.88 billion and its funding is recorded at $114.9 million. Rivigo improves the working lives of its employees behind its delivery fleets by using big data, internet of things (IoT) sensors and Artificial Intelligence (AI) to monitor and manage driver stress and fatigue.
Meanwhile, Paperboat by Hector Beverages Pvt. Ltd and handcrafted beer brand Bira 91 by B9 Beverages have also been mentioned as examples of brands appealing to the rising middle class consumer in the APAC countries by prioritising craftsmanship and personalization.
“It’s an honour to be thought of for such laudable values. We make films that don’t always sell our products—but instead celebrate our country’s rich, varied and shared cultural experiences. Our objective is not merely to sell drinks or foods, but to preserve and re-contextualise fast-fading traditional tastes and recipes. It’s exactly like what India, as a nation, wants to do—to shape a progressive, imaginative, and bold future, all while holding on to our vast heritage,” said Neeraj Kakkar, founder and chief executive of Hector Beverages.