Chinese brands are rising globally

Chinese brands are also leading the way compared with other fast-growing regions and countries. Only one of the highest-valued Asian brands is not Chinese, and only seven other Asian brands find themselves in the world's most valuable 100, alongside 14 Chinese brands.

Furthermore, despite China's recent economic slowdown, its brands contribute eight of the top 10 ranked Asian brands, the other two being Samsung (6th) and Toyota (8th).

BrandZ also reports on the growth of brands across emerging nations such as Brazil, Russia, India and China (along with South Africa they make up the BRICS bloc), the four countries often cited as the new engine of global economic growth. China and its brands also shine brightly here. None of the top Brazilian brands have made it into the BrandZ 2015 top 100.

BrandZ 2015 provides a separate section on the BRICS in which it is made clear that Russian brands remain relatively weak compared with Chinese competitors, and even Indian brands have struggled to grow internationally. No Indian or Russian brands appear in the top 100.

This year's BrandZ report cites the robust purchasing power of Chinese consumers as one of the key drivers of brand value growth, despite the relative slowdown in the Chinese economy. Combined with the increased competitiveness of Chinese brands, this provides huge opportunities for European brands and their penetration plans for the Chinese market.

BrandZ 2015 also researched perceptions of "Made in China" and "Brand China", looking at the image associated with China-made products and Chinese brands around the world.

It found that North American and Western European consumers' perceptions of Chinese brands have changed markedly in recent years. In particular, technology brands are no longer tainted with the low-cost, low-quality image that had dogged many Chinese companies for many years.

However, it is also important for many British and European brand producers to take note of the BrandZ 2015 findings on changes in the behavior of Chinese consumers. Consistent with my research in recent years, BrandZ reveals that Western brands have lost their mystique and the automatic allure they once commanded in the minds of many Chinese consumers. Improved competitiveness among many Chinese brands has contributed to the typical Chinese consumer now taking longer and thinking more rationally over many brand choices. Western brands such as Chanel and other previously invincible brands are no longer perceived as automatically superior.

BrandZ also reports that Chinese consumers, via careful consideration of the Chinese Dream, now engage and identify more with brands that build an image in the consumers' minds based on Chinese brand associations.

As a result, BrandZ 2015 is perhaps pointing more and more to the need for more Sino-European brand tie-ups, where a symbiotic relationship should help both partners penetrate each other's geographic market.

Above all, BrandZ 2015 forecasts the continued international rise of Chinese brands as well as the growing importance of Chinese consumers' purchasing power.

The message to European brand producers, therefore, is clear: Identify a suitable Chinese brand partner and consider a Chinese image for the Chinese market.

The author is a visiting professor at the University of International Business and Economics in Beijing and a senior lecturer at Southampton University. The views do not necessarily reflect those of China Daily.

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