Interbrand has announced its second annual Interbrand Breakthrough Brands report in partnership with Facebook, New York Stock Exchange (NYSE) and Ready Set Rocket. The 2017 report recognizes 40 next-generation and disruptive brands that define progress and the potential to grow. Two Indian brands made the cut this year.
After analyzing over 350 submissions from global influencers and open public submissions, 40 brands were selected as this year’s Breakthrough Brands; amongst which India’s start-up poster-brand Flipkart and technology-enabled logistics start-up Rivigo have also been featured. Paperboat by Hector Beverages has also been mentioned as one of the exemplified brands for appealing the rising middle-class consumer in the APAC countries.
As per the report, Flipkart has a staggering valuation of USD $11,600 million (Rs. 1,160 crore) and a funding of USD $4,550 million (Rs. 455 crore). “The Bangalore-based brand has become a hallmark of growth in Asia. It has changed the e-tail landscape in India, providing access to goods in both urban and rural communities at prices that were once unimaginable. Flipkart is also investing in payment and retail tech across the continent, making it one of the region’s biggest Breakthrough catalysts. Recently receiving USD $1.4 billion (Rs. 140 crore) in funding, the brand is set to break through globally,” the report said.
On the other hand, Rivigo has been valued at USD $1,880 million (Rs. 188 crore) and its funding is recorded at USD $114.9 million (Rs. 11.49 crore). According to the report, Rivigo isn’t just about logistics: it’s about people. “The India-based brand improves the working lives of the humans behind its delivery fleets by using big data, IoT sensors, and AI to monitor and manage driver stress and fatigue. With a team of top data scientists, Rivigo is creating systems that increase distance covered and improve turnaround times up to 70%—driving productivity for both its people and its clients,” the report said.
This year’s report divided the Breakthrough Brands into seven key insights out of which two applied to Flipkart and Rivigo. They were: ‘The working future’ (defined as an increased focus on individuals and what needs to be fulfilled within their careers and their lives especially as they become increasingly intertwined) where Rivigo shined and ‘Experiences on demand’ (defined as some brands make it easier to get what we want, others make it easier to find what we want, but all are helping us live an on-demand lifestyle) where Flipkart made itself known.
The criteria for selections were based on age (10 years or younger), growth, buzz and originality.
Commenting on the Indian contenders and the overall Breakthrough Brands in the local market, Ashish Mishra, Managing Director, Interbrand India said, “India is emerging as a crucible for the Breakthrough Brands due to our demographic, social, expressive and experiential evolution leading to cross fertilization of new consumers, markets, lifestyles and touch points. There is a genuine need of improving lives across business and life-critical areas of money and mobility on one hand, health and lifestyle on another. The other big phenomenon is the merging of the breakthrough mindset with traditional organizations. We are seeing many traditional companies spawning breakthrough businesses within their folds. Indeed, it’s no longer about start-ups anymore but about inculcating the breakthrough mindset no matter what you do and who you are.”
“There are moments throughout the life of your business when you enter a new stage of growth,” said Jez Frampton, Interbrand’s Global CEO. “For Breakthrough Brands, it’s realizing there’s a gap or a need in the marketplace, and filling it. These brands are catalysts as they are not just setting new standards for other brands, they’re breaking them.”
Deepinder Goyal and Pankaj Chaddah’s Zomato was a part of the 2016 study and the recent report also featured their growth from last year.