Paytm, Zomato in Interbrand Breakthrough Brands list
New Delhi: Payments services and e-commerce firm Paytm and restaurant discovery platform Zomato are two Indian firms to make it to a global list of 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 first edition of the report was released on Wednesday. Interbrand conducted the study in partnership with Facebook, Ready Set Rocket, a New York based digital agency, and the New York Stock Exchange (NYSE). It chose 60 brands out of 200 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 (of consumers), and the strength of the business model.
Zomato has been featured in the food and beverage category, along with Deliveroo from the UK and Blue Apron from US.
Paytm has been featured under the “Growing Global” category, which lists brands that have created a unique, differentiated approach which is global from day one.
“Breaking ground fast and too big to ignore, these brands are poised, or already on the path, to creating a significant global footprint. PayTM’s growing mission to create a one-stop, mobile shop has caused it to flourish in the population-dense country of India, where online platforms serve a growing need to get things done, quicker and more conveniently,” Interbrand said in a note.
Other brands in this category include Chinese mobile handset brand Xiaomi, instant messaging brand WeChat and Hong Kong based consumer drone company DJI Global.
“This is a superb recognition for our Paytm brand, and gives us even more conviction that we are well on our way towards creating one of India’s most loved and popular brands. We are on a mission of creating a cash-free nation by making digital payments a habit. In this journey, it is imperative that we have a mass, well liked, credible and trustworthy brand,” said Shankar Nath, senior vice president at Paytm.
Zomato did not comment on the issue.