Four big brands from beyond the BRICs
We plotted GDP against the average GDP growth rate over the last five years to find economies that combine scale with growth, and then combined our analysis with the perspectives of regional experts from each country. From all of this, we think four countries will emerge in the next wave following the BRICs: Mexico, Korea, Turkey and Indonesia. They are strong flourishing economies that have exhibited extraordinary growth in GDP as well as capital markets and consumer demand.
We think these countries’ rising stars and most exciting brands – still unknown to non-locals but with the potential to excite the world in the next few years – are:
From Mexico
Grupo Bimbo is the biggest Mexican food corporation and the largest bakery in the world with brands in Latin America, Europe, China, the United States, Canada and Puerto Rico. Grupo Bimbo is growing rapidly making significant acquisitions and expanding its distribution across the globe. As Mexican food continues to gain in popularity worldwide and Mexican brands realise the need to target beyond Mexican consumers, giant companies like Bimbo will move from silent conglomerates to big global consumer brands.
From Korea
E-mart is the oldest and largest discount store chain in Korea with total sales volume exceeding US$ 9.4 billion in 2009. With aggressive new store openings and the acquisition of Wal-Mart Korea in 2006, E-Mart is also the first Korean retailer to advance into China, with the aim of becoming one of the top leading global retailers. As of January 2010, E-mart 127 stores across South Korea and 24 stores in China. Its brand power has always been within the top 3 in the entire country and it now has the ambition to go beyond its retail category.
From Turkey
Vestel has an impressive market share (20%) in Europe’s television-set market and decided to move from OEM to its standalone brand in 2010. It leads the European market in terms of unit sales followed by Philips and BEKO (another Turkish brand), experiencing very rapid growth. It also operates in television components, personal computers, PC monitors and white goods, and has R&D centres in Turkey, UK and Silicon Valley. Vestel is Turkey’s largest exporter, with customers in 103 countries. Vestel belongs to Zorlu Holding, a Turkish conglomerate.
From Indonesia
Extrajoss is a powder type energy drink sold in Indonesia, an Indonesian version of Red Bull. However, it is cheaper and promotes its healthy ingredients (vitamin C, ginseng, etc). It is well established in the domestic market and has appointed Cristiano Ronaldo as the brand’s spokesperson. It started to export to adjacent countries including Singapore and Malaysia.
(Hester Song) Originally posted August 5, 2010 in ‘Views’