Red Horse Beer makes Top 30 most valuable SEA brands list
San Miguel Corporation's Red Horse Beer is the lone Philippine name to enter Kantar's Top 30 Most Valuable Southeast Asian Brands for 2024.
The brand secured the 26th spot with a value of $1.4 billion or more than P77.9 billion.
Kantar reported that the brand has successfully established a robust local presence and expanded its reach to 71 countries globally. Its ranking is partly attributed to its unique double fermentation process, which leads to a higher alcohol content compared to most beers—6.9% locally and 8% internationally.
Likewise, Kantar said Red Horse has successfully expanded its customer base by reaching a wider demographic than its traditional male consumers.
"The brand’s communications associated Red Horse with daring, bold masculinity wrapped up in the local term 'astig,' but they have recently adapted to feature women as lead characters who also embody rebellion and astig," it said, emphasizing that the beer brand also promoted responsible drinking.
"The brand was linked with rock music events for many years but now supports other youth cultural activities, such as sports and gaming. It uses memes and funny videos on its YouTube channel, Lakas Tama (meaning 'strong hit')."
It added, "The brand also promotes responsible drinking."
Kantar also mentioned Jollibee as a "quick-service restaurant chain" that is "much loved" in the Philippines. It also showcased the fast-food chain's remarkable journey and growth.
"[It] has a network of outlets that's more than twice the size of McDonald's in its home market. Half a century of growth has seen Jollibee develop from what began as an ice cream parlor into a brand that's nationally synonymous with affordable tasty fast food," the report pointed out.
Meanwhile, Indonesia's financial services, BCA and BRI, topped the list, followed by Singapore's financial service, DBS.
AIS of Thailand, a telecom provider, landed in the fourth spot, while Indonesia's Mandiri, also a financial service, bagged the fifth spot.
UOB (Singapore), Shopee (Singapore), Telkomsel (Indonesia), Marina Bay Sands (Singapore) and True (Indonesia) clinched the sixth to tenth spot, respectively.
As per its website, Kantar, a brand valuation that began in 2006, ranks the most valuable brands in the world. It is the "world's largest, consumer-focused source of brand equity insight." It helps researchers, planners, and strategists better understand the brands they work on, becoming the "global standard" brand value ecosystem.
