Saturday, June 15, 2024

Modelo Especial included in 2024 Global 500 most valuable brands

Mexican beer Modelo Especial is one of the world’s 500 most valuable brands, according to consulting firm Brand Finance.

The firm’s annual “Global 500” brand list ranked Modelo in 455th place, with a value of $5.2 billion. It is the second most valuable brand in Mexico after fellow beer brand Corona Extra, which came in 207th place. It is also one of only five Latin American brands in the top 500, alongside the Brazilian banks Itaú (263), Banco do Brasil (431) and Bradesco (477).

Corona beer bottles
Corona has been Latin America’s most valuable brand according to the firm for some time. (Depositphotos)

“Beer brands of Mexican origin are recognized and appreciated around the world,” said Laurence Newell, Americas director at Brand Finance. He highlighted that Modelo Especial’s value “continues to grow, far exceeding pre-pandemic data, driven by the North American consumer.”

Modelo Especial’s brand value leaped by 24% last year. It became the top-selling beer in the United States in May, with an 8.4% share of U.S. retail sales, temporarily displacing longtime leader Bud Light.

Analysts attributed Modelo’s success not only to controversies affecting Bud Light’s owner Anheuser-Busch, but also to Modelo’s brand diversification and a growing affinity for Mexican alcoholic beverages in the U.S.

Brand Finance gave Modelo Especial a brand score of 78.9 out of 100 and an AA+ rating, reflecting not only its value, but also its reputation and perception of sustainability.

However, it still lagged behind Corona Extra — long the most valuable brand in Latin America — which performed even more strongly in 2023, seeing its overall value surge by 40%, to $10.4 billion.

Meanwhile, Mexican telecommunications brand Claro dropped off Brand Finance’s top 500 list for the first time since 2009.

Overall, the combined value of Latin American brands on the list increased by 9% from 2023, to reach $34 billion.

With reports from Aristegui Noticias


Have something to say? Paid Subscribers get all access to make & read comments.
PCB board

Mexico looks to prioritize development of semiconductor industry

The country is further solidifying efforts to promote the semiconductor industry as part of the North American supply chain.
Peso and dollar bills

Peso plummets to nearly 19 to the US dollar, then makes slight recovery

Governor Victoria Rodríguez said Wednesday that while the Mexican economy is solid, the Bank of Mexico could take action in case of "extreme volatility."
Puebla Governor Sergio Salomon and Audi Mexico President Tarek Mashour shaking hands in front of a temporary wall with the Audi logo.

Audi to invest over US $1B to build EVs in Puebla

Audi says it will expand an existing Puebla factory in order to begin manufacturing the German automaker's electric vehicles in Mexico.