Design is everything it seems – since declaring design management as a core driver of the company’s future growth, Kia Motors Corporation’s brand value has skyrocketed by 480% from US$929m in 2007 to US$5.4bn, according to Interbrand’s list of 100 Best Global Brands 2014.
Kia first entered Interbrand’s annual rankings in 2012, coming in 87 place with brand value of US$4.1bn, and subsequently rose four spots to number 83 last year following a 15% increase in brand value to US$4.7bn.
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This has increased by a further 15% this year – more than double the average brand value growth of the top 100 companies – elevating the Korean carmaker nine places to 74.
The company pointed to a number of reasons for its rapid rise in brand value: The hiring of president and chief design officer Peter Schreyer in 2007, the continued roll-out of high profile marketing activities including this year’s sponsorship of the 2014 FIFA World Cup in Brazil and the Australian Open tennis championship.
There is also an ongoing new product offensive featuring the launch of 12 next generation or significantly upgraded models in 2013 and 2014.
Hyoung-Keun Lee, vice chairman of Kia Motors, said, “Our rise up the rankings this year is a testament to the dedication of all employees worldwide to exceeding customer expectations in every area of the business.”
Kia has also out a global campaign based on its new brand identity introduced in 2012 – A Different Beat. The carmaker has been executing various innovative marketing activities since then, such as the Red Cube visual identity for dealerships around the world as well as introduction of a brand signature sound that is being applied to Kia’s television commercial end frame jingle and other customer touch points.
This latest recognition by Interbrand follows Kia’s rise from 37th to 35th place on Interbrand’s list of 50 Best Global Green Brands 2014 released in June.
