American machinery giant John Deere has earned a spot among the world’s most valuable brands in an annual ranking.
John Deere is now ranked 88th out of 100 in the 'Best Global Brands' research announced in October 2018, moving up four spots from a year ago.
The 181-year-old company, which manufactures agricultural machinery, has beaten the likes of Mini and Shell.
Interbrand, the brand consulting firm behind the list, estimates the John Deere brand to now be worth approximately $5.4 billion, a 12 per cent increase on last year.
“A decade after the global financial crisis, the brands that are growing fastest are those that intuitively understand their customers and make brave iconic moves that delight and deliver in new ways,” said Charles Trevail, Interbrand’s global chief executive officer.
Interbrand said its brand valuation is based on three key areas - financial performance of the brand; the brand’s influence on purchase decisions; and the brand’s strength to create loyalty and sustainable customer demand.
Samuel R Allen, Deere & Company chairman, said: “This recognition emphasises the success of our 70,000 employees worldwide who work each day to deliver on the company’s core values of integrity, quality, commitment and innovation."
John Deere has been included in the Best Global Brand ranking since 2011, when Interbrand estimated the value of the John Deere brand to be $3.65 billion.
