Puregold, the flagship retail chain of businessman Lucio Co, has emerged as the only retailing business on the list of the Philippines’ most valuable brands, according to a report by London-based independent brand valuation consultancy firm Brand Finance.
Puregold retained its hold on the 9th spot in this year’s Brand Finance Philippines 30 report after gaining a 16-percent increase in brand value to $731 million from 2023.
The report said the achievement underscored Puregold’s exceptional performance and continued dedication to delivering value and quality to its customers. The ranking also propelled Puregold to stand shoulder to shoulder with big banking, telecommunications, power, and energy companies, it said.
Puregold Price Club Inc. operates various retail formats throughout the Philippines.
As of end-2023, the company has a total of 604 retail stores consisting of 488 Puregold stores, 26 S&R Membership Shopping Warehouse, 54 S&R New York Style Pizza (QSR), 33 San Roque Supermarkets, and three Merkado Supermarkets.
The Brand Finance Philippines 30 2024 report measures a company’s value, stature, strength, and growth, and how that particular company stacks against its local, regional, and global competitors.
The brand valuation consultancy firm evaluates annually the strength and value of over 5,000 brands from around the world across more than 40 sectors and industries.
Overall, the Sy family’s BDO ranked as the most valuable brand in this year’s report with a 14-percent jump in brand value.
It was followed by fast-food giant Jollibee and Ayala-led telecommunications company Globe Telecom at 2nd and 3rd, respectively.
PLDT, which was at the top of the heap in the 2022 and 2023 reports, fell down three notches, sliding to the No. 4 spot after posting a 25-percent decrease in brand value.
Completing the 10 most valuable brands in the country are Bank of the Philippine Islands (5th), Metrobank (6th), Meralco (7th), Petron (8th), and UnionBank (10th).
Brand Finance said the growth in brand value of these Philippine brands mirrors the country’s positive economic outlook. “It also shows that the economy is experiencing a positive post-pandemic rebound,” it said.
