LG Electronics (LG) ranked 97th in the Best Global Brands 2024 list released in October with a brand value of approximately USD 6.5 billion.
The Best Global Brands list from global brand consultancy firm Interbrand recognizes companies with strong financial performance, role of brand, and brand strength.
Interbrand’s ISO-certified evaluation criteria are widely regarded as the most reliable methodology in branding and marketing.
According to LG, its brand value climbed significantly by 38.7 percent year-on-year, resulting in high scores in the role of brand and brand strength categories.
In 2024, LG’s brand value reached USD 6.5 billion from USD 3.1 billion in 2022.
Interbrand lauded LG for its clear vision as it rebranded to a “Smart Life Solution Company” and its brand strategies targeted to maintain positive customer engagement across diverse regions and generations through offline and online communication methods.
LG’s ranking in the Best Global Brands list is also attributed to its “Brand Reinvent” initiative which aims to introduce LG as a dynamic brand.
“We are transforming from a leading home appliance and consumer electronics company into a Smart Life Solution Company. As part of this transformation, we’ve initiated our brand reinvention based on our long-standing promise, ‘Life’s Good,’” said William Cho, CEO of LG Electronics.
“At this historical moment of business transformation, we are proud to be recognized as one of the top 100 global brands, a testament to our strong brand presence and growth potential.”