Kweichow Moutai tops most ‘future-proofed’ list

Chinese baijiu producer Kweichow Moutai Company has been named the world’s most ‘future-proofed’ drinks firm, ranking highest in a list of brands consumers are willing to pay more for.

Baijiu maker Kweichow Moutai is considered worthy of paying more for

The 2018 FutureBrand Index, published on Tuesday (9 October), re-orders PwC’s Global Top 100 – the largest companies in the world by market capitalisation.

It takes responses from 3,000 senior business figures from around the world to measure each firm’s ‘future-proof factor’ – “how strongly they’re positioned for future success”.

Factors that help determine how ‘future-proof’ a company is includes having a clear vision of the future; building a strong emotional connection; delivering sustainable value; and redefining a category.

A newcomer to the list, baijiu maker Kweichow Moutai entered at second place – one of the top six most ‘future-proofed’ Chinese brands. The firm is valued at US$137 billion.

The baijiu producer was ranked in joint first-place with technology giant Apple in the list of companies that create products considered worthy of paying more for.

The report added that the drinks producer “clearly has ambitions to reframe the premium and super-premium drinks space – especially amongst younger, more affluent consumers”.

The company was also described as “highly admired due to the way it is reshaping the future of its category” and as having a “highly innovative experience approach”.

Meanwhile, luxury goods company LVMH, which produces Glenmorangie Scotch whisky and Belvedere vodka, saw its position drop 51 places to number 70 – the biggest decline on the list.

The firm’s future “looks fairly uncertain” according to the report, which added that consumers “do not seem to see the value in paying more for their products”.

The report added: “Clear declines in perceived levels of innovation, inspiration and individuality should be prioritised as a matter of urgency.”

Nick Sykes, president international of FutureBrand, said: “The Index shows that the brands performing the best, irrespective of which sector they’re in or how well-established they may be, are those that consistently align the totality of the experiences they create with their wider corporate purpose.

“Comparing this year’s results to previous versions of the Index shows there’s no room for complacency. If brands lose their focus on the balance of attributes they need for future success, they quickly fall down the rankings.”

Earlier this year, Kweichow Moutai Company announced its plans to increase its focus on the UK market as part of the Chinese group’s international expansion into Europe.


Go to Source
Author: Nicola Carruthers {authorlink}