The Group was awarded a brand rating of ‘A+’, an improvement from last year’s ‘A’ rating. The Group also improved 2 notches in terms of brand ranking, placing 51st this year. Brand value for the Group also improved from USD81 million in 2020 to USD86 million in 2021. The assessment was made by estimating Food Empire’s likely future revenues attributable to its respective brands, calculating the royalty rate that would be charged for the use of its brands assuming it was not already owned and benchmarking it against other contestants.
Commenting on the ranking, the Group’s Executive Chairman, Mr Tan Wang Cheow, said, “We are honoured to be featured in the Top 100 “Most Valuable Singaporean Brands” by Brand Finance. Despite the disruptions brought about by the Covid-19 pandemic, we have been able to adapt to the challenges and further increase our brand value. The result is a validation of Food Empire’s efforts towards improving customers’ experience, enhancing brand equity and delivering greater value to our shareholders.”