Stat: WeChat becomes the world’s fastest-growing brand

The all-in-one China-founded app has grown 1,540% in terms of brand value in the past five years, according to the Fastest Growing 100 report by Brand Finance.

Examined alongside 5,000 other businesses, WeChat’s accelerated growth is aligned with its swelling user base of one billion people globally, and increasing appeal for Western companies as a platform through which luxury, beauty and fashion brands can reach Asian consumers.

According to Brand Finance’s research, Chinese brands dominated the Fastest Growing 100 list in 2019, claiming two out of every three spots in the top 30, with these companies’ combined worth equating to £654bn ($856.8bn, €773bn).

‘WeChat has successfully entrenched itself in Chinese society, a feat unmatched by any other brand. However… now the Chinese economy is starting to stall, it raises the question of whether Chinese brands can match domestic growth internationally,’ notes Alex Haigh, valuation director at Brand Finance. In this future, brands that want to reach Chinese shoppers must consider the innovations driving e-commerce in the region.