Keells bags most valuable supermarket brand in 2019 | Daily News


 

Keells bags most valuable supermarket brand in 2019

Officials of Keells receives the Most Valuable Supermarket Brand award from Brand Finance officials.
Officials of Keells receives the Most Valuable Supermarket Brand award from Brand Finance officials.

Demonstrating outstanding marketing and financial performance, Keells (formerly Keells Super), was awarded the Brand Finance Most Valuable Supermarket Brand title in 2019. The16th edition of this annual review was recently released by Brand Finance.

Keells has become the most valuable supermarket brand by overtaking the long-time leader in the category for the first time in ten years by recoding a brand value of Rs. 17.5 billion, an increase of 51% from the previous year. The brand has risen 2 positions on the league table, by climbing up from 14th to the 12th rank, which would soon set itself up to enter the prestigious most valuable top 10.

Richard Haigh, the UK based Managing Director of Brand Finance plc. commenting on Keells performance said “we have been tracking the performance of this brand over the years on our league table and have seen its rise. Last year it out performed the growth of the market. Latterly they have been able to significantly accelerate performance through operational efficiencies and excellent customer marketing, and we would like to congratulate them on their achievements. The brand has the potential of being amongst the most valuable brands in Sri Lanka in the near future”.

In November 2017, Keells launched a new store format for its supermarkets which encompassed a change in its brand strategy, brand identity, store design and an entire suite of in-store brand communications. This rebranding took Sri Lanka by a storm, contributing to their improved market share. They changed their logo and brand colors from red to green highlighting the freshness proposition they have so long stood for. This new brand identity and store concept is ingrained in Keells’ belief of improving the quality of life for the nation by providing innovative retail experiences, quality food and fresh produce at the right price to their consumers. These changes have made a difference, as although having fewer stores, performance through the existing ones have been far superior, resulting in the higher overall brand value.

The BrandFinance® most valuable brand measures the value and strength of 100 Sri Lanka’s brands that are listed on the Colombo Stock Exchange, using a method based on the royalty relief mechanism that Brand Finance uses globally.

Brand Finance plc, is the world’s leading independent brand valuation consultancy, which advises strongly branded organizations on maximizing their brand value through effective management of their brands and intangible assets.

 


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