Singapore – Food Empire Holdings Limited (“Food Empire”, together with its subsidiaries, the “Group”), is pleased to announce its recognition as one of the Top 100 “Most Valuable Singaporean Brands” by Brand Finance, one of the world’s leading valuation and strategy consultancy.
Brand value for the Group increased to US$101 million from US$86 million in 2021, an astonishing 17% increase. The inclusion of new brands and the growth of other brands this year did not deter the Group from being awarded a brand rating of ‘A’ and ranked 55th place. 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. The Food Empire brand was valued at a group level and not at an individual brand level.
Commenting on the ranking, the Group’s Executive Chairman, Mr Tan Wang Cheow, said, “We are proud and honoured to be included in the Top 100 “Most Valuable Singaporean Brands” by Brand Finance for 12 consecutive years. The award serves as an excellent endorsement of our continued efforts to understand and meet customer needs. As we bounce back from the pandemic, we will strive to further enhance our brand value and strength with continuous engagement between stakeholders and the brand.”