Flipkart, Paperboat find place in Interbrand's breakthrough brands report
Vjmedia Works | May 26, 2017
These are the two Indian brands that sit along with 40 most aspirational global brands, according to the most prestigious brand report.
The 2017 Interbrand Breakthrough Brands report in partnership with Facebook, New York Stock Exchange (NYSE) and Ready Set Rocket, online retail brand Flipkart and packaged beverage brand Paperboat have been recognized among 40 next-generation, disruptive global brands. The report complements Interbrand’s annual Best Global Brands report, now entering its 18th year, by putting a spotlight on emerging brands—those that are affecting change and embodying growth.
“There are moments throughout the life of your business when you enter a new stage of growth,” said Jez Frampton, Interbrand’s Global CEO. “For Breakthrough Brands, it’s realizing there’s a gap or a need in the marketplace, and filling it. These brands are catalysts as they are not just setting new standards for other brands, they’re breaking them.”
As per the report, Flipkart has a staggering valuation of USD $11,600 million and a funding of USD $4,550 million. The Bangalore based brand has become a hallmark of growth in Asia. It has changed the e-tail landscape in India, providing access to goods in both urban and rural communities at prices that were once unimaginable. Flipkart is also investing in payment and retail tech across the continent, making it one of the region’s biggest Breakthrough catalysts. Recently receiving USD $1.4 billion in funding, the brand is set to break through globally. “We’re honoured to be listed in these prestigious brand rankings and thank our customers for the love and support they’ve given us over the past decade. Coming during our 10 year anniversary celebrations, this is an acknowledgement of the progress Flipkart has made in improving people’s lives through innovation and local problem solving,” said Kalyan Krishnamurthy, CEO, Flipkart.
Commenting on the Indian contenders and the overall Breakthrough Brands in the local market, Ashish Mishra, Managing Director, Interbrand India said “India is emerging as a crucible for the Breakthrough Brands due to our demographic, social, expressive & experiential evolution leading to cross fertilization of new consumers, markets, lifestyles and touch points. There is a genuine need of improving lives across business and life-critical areas of money & mobility on one hand, health & lifestyle on another. The other big phenomenon is the merging of the breakthrough mindset with traditional organizations. We are seeing many traditional companies spawning breakthrough businesses within their folds. Indeed, it’s no longer about start-ups anymore but about inculcating the breakthrough mindset no matter what you do and who you are.”