{"id":24604,"date":"2023-09-05T08:47:42","date_gmt":"2023-09-05T07:47:42","guid":{"rendered":"https:\/\/brandfinance.com\/?post_type=press-release&#038;p=24604"},"modified":"2023-09-05T08:47:43","modified_gmt":"2023-09-05T07:47:43","slug":"ikea-is-reigning-champion-of-nordic-brands-but-contends-with-declining-brand-strength","status":"publish","type":"press-release","link":"https:\/\/brandfinance.com\/press-releases\/ikea-is-reigning-champion-of-nordic-brands-but-contends-with-declining-brand-strength","title":{"rendered":"IKEA is reigning champion of Nordic brands but contends with declining brand strength"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><strong>Swedish giant IKEA retains title of most valuable Nordic brand, valued at \u20ac15.4 billion, despite decline in brand strength<\/strong><\/li>\n\n\n\n<li><strong>ICA becomes the Nordics\u2019 strongest brand, followed by Elisa, both with esteemed AAA rating<\/strong><\/li>\n\n\n\n<li><strong>Zyn, Oatly, and Aker BP are fastest-growing Nordic brands, all more than doubling in value<\/strong><\/li>\n\n\n\n<li><strong>Finland\u2019s Valio milks an impressive Sustainability Perceptions Score, rated 6.4 out of 10<\/strong><\/li>\n\n\n\n<li><strong>Nordic countries\u2019 Soft Power performances improve<\/strong><\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/brandirectory.com\/nordic\" target=\"_blank\" rel=\"noopener\">View the full Brand Finance Nordic 150 2023 report here<\/a><\/p>\n\n\n\n<p><strong>Swedish giant IKEA retains title of most valuable Nordic brand, valued at \u20ac15.4 billion, despite decline in brand strength<\/strong><\/p>\n\n\n\n<p><strong>IKEA<\/strong> (brand value up 2% to EUR15.4 billion) has continued on its unbroken run as the most valuable Nordic brand, according to the new Nordic 150 2023 report from Brand Finance, the world\u2019s leading brand valuation consultancy. Fellow Swedish brand, <strong>Volvo<\/strong> (brand value down 31% to EUR8.5 billion) drops two positions in the ranking, paving the way for Norwegian Oil &amp; Gas giant <strong>Equinor<\/strong> (brand value up 57% to EUR12.6 billion) to take second place.<\/p>\n\n\n\n<p>Every year, leading brand valuation consultancy <a href=\"https:\/\/brandfinance.com\/\">Brand Finance<\/a> puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The world\u2019s top 150 most valuable and strongest Nordic brands are included in the annual <a href=\"https:\/\/brandirectory.com\/nordic\" target=\"_blank\" rel=\"noopener\">Brand Finance Nordic 150 2023 ranking<\/a>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Anna Brolin, Managing Director, Brand Finance Nordics, commented:<\/p>\n\n\n\n<p><em>\u201cIKEA has been unbeatable for 11 years. The brand has sought to support its position in what continues to be a challenging business environment by implementing price hikes, but the negative impact on consumer perceptions does present some difficulties for the brand. IKEA now needs to address consumers\u2019 concerns by improving brand communication to regain trust and equity, and prove it remains the leading affordable home furnishings and solutions provider.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2133\" height=\"1200\" src=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-2133x1200.jpg\" alt=\"\" class=\"wp-image-24605\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-2133x1200.jpg 2133w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-768x432.jpg 768w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-1536x864.jpg 1536w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-2048x1152.jpg 2048w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Valuable-scaled.jpg 2560w\" sizes=\"auto, (max-width: 2133px) 100vw, 2133px\" \/><\/figure>\n\n\n\n<p><strong>ICA becomes Nordics\u2019 strongest brand, followed by Elisa, both with AAA rating<\/strong><\/p>\n\n\n\n<p><strong>ICA <\/strong>(brand value up 37% to EUR1.7 billion) has become the strongest Nordic brand with a BSI of 89 out of 100 and a AAA rating. A high brand loyalty score and positive consumer perceptions relating to ICA\u2019s quality, range of products, and usage, has propelled its BSI score by 15 points.<\/p>\n\n\n\n<p>Close behind ICA, Finnish telecoms brand <strong>Elisa <\/strong>(brand value up 14% to EUR1.4 billion) maintains its position as the second strongest Nordic brand, with a BSI of 87 out of 100 and AAA rating.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2134\" height=\"1200\" src=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest-2134x1200.jpg\" alt=\"\" class=\"wp-image-24606\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest-2134x1200.jpg 2134w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest-768x432.jpg 768w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest-1536x864.jpg 1536w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest-2048x1152.jpg 2048w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Strongest.jpg 2500w\" sizes=\"auto, (max-width: 2134px) 100vw, 2134px\" \/><\/figure>\n\n\n\n<p><strong>Zyn, Oatly, and Aker BP are fastest-growing Nordic brands, all more than doubling in value<\/strong><\/p>\n\n\n\n<p><strong>Zyn<\/strong> (brand value up 228% to EUR827 million), <strong>Oatly<\/strong> (brand value up 179% to EUR429 million) and <strong>AkerBP <\/strong>(brand value up 130% to EUR2.7 billion) are the three fastest-growing Nordic brands in 2023.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2133\" height=\"1200\" src=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-2133x1200.jpg\" alt=\"\" class=\"wp-image-24607\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-2133x1200.jpg 2133w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-768x432.jpg 768w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-1536x864.jpg 1536w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-2048x1152.jpg 2048w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Fastest-growing-scaled.jpg 2560w\" sizes=\"auto, (max-width: 2133px) 100vw, 2133px\" \/><\/figure>\n\n\n\n<p><strong>Finland\u2019s Valio milks an impressive Sustainability Perceptions Score, rated 6.4 out of 10<\/strong><\/p>\n\n\n\n<p>As part of its analysis, Brand Finance assesses the role that specific brand attributes play in driving overall brand value. One such attribute is sustainability. Brand Finance assesses how sustainable specific brands are perceived to be, represented by a \u2018Sustainability Perceptions Score\u2019. The value that is linked to sustainability perceptions, the \u2018Sustainability Perceptions Value\u2019, is then calculated for each brand.<\/p>\n\n\n\n<p>Food brand Valio (brand value up 13% to EUR1.4 billion) has the highest Sustainability Perceptions Score in the ranking - 6.4 out of 10. As Finland\u2019s biggest exporter of food products, Valio has sustainability at the forefront of its communication with stakeholders.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2133\" height=\"1200\" src=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-2133x1200.jpg\" alt=\"\" class=\"wp-image-24608\" srcset=\"https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-2133x1200.jpg 2133w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-450x253.jpg 450w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-768x432.jpg 768w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-1536x864.jpg 1536w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-2048x1152.jpg 2048w, https:\/\/brandfinance.com\/wp-content\/uploads\/2023\/09\/Nordic-150-2023-Social-Media-Post-Sustainability-scaled.jpg 2560w\" sizes=\"auto, (max-width: 2133px) 100vw, 2133px\" \/><\/figure>\n\n\n\n<p><strong>Nordic countries\u2019 Soft Power performances improve<\/strong><\/p>\n\n\n\n<p>Of the 121 countries included in Brand Finance\u2019s <a href=\"https:\/\/brandirectory.com\/softpower\" target=\"_blank\" rel=\"noopener\">Global Soft Power Index 2023<\/a>, Sweden (11<sup>th<\/sup>) climbed three places since last year\u2019s ranking, Norway (17<sup>th<\/sup>) and Denmark (18<sup>th<\/sup>) each maintained their rankings, and Finland (22<sup>nd<\/sup>) and Iceland (34<sup>th<\/sup>) also climbed three ranks.<\/p>\n\n\n\n<p><a href=\"https:\/\/brandirectory.com\/nordic\" target=\"_blank\" rel=\"noopener\">View the full Brand Finance Nordic 150 2023 report here<\/a><\/p>\n\n\n\n<p><strong>ENDS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>View the full Brand Finance Nordic 150 2023 report here Swedish giant IKEA retains title of most valuable Nordic brand, valued at \u20ac15.4 billion, despite decline in brand strength IKEA (brand value up 2% to EUR15.4 billion) has continued on its unbroken run as the most valuable Nordic brand, according to the new Nordic 150 [&hellip;]<\/p>\n","protected":false},"featured_media":4452,"comment_status":"closed","ping_status":"closed","template":"","tags":[242,210,129,261,323,105],"class_list":["post-24604","press-release","type-press-release","status-publish","has-post-thumbnail","hentry","tag-denmark","tag-finland","tag-nordic","tag-nordics","tag-norway","tag-sweden"],"acf":[],"_links":{"self":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/24604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/types\/press-release"}],"replies":[{"embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/comments?post=24604"}],"version-history":[{"count":2,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/24604\/revisions"}],"predecessor-version":[{"id":24610,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/press-release\/24604\/revisions\/24610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/media\/4452"}],"wp:attachment":[{"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/media?parent=24604"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brandfinance.com\/wp-json\/wp\/v2\/tags?post=24604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}