Company growth experts have determined that understanding a companies’ value as a brand is very important. What’s the reason behind this? Because it serves as a great support when establishing their capacity to manage future decisions despite macro challenges that may be present in the market.
Currently, brands mainly from Asia and USA are established as the world’s 100 most valuable brands, including names like Facebook, Alibaba, Zara and Google. However, with the African market currently growing in the fashion industry, one can only set high goals and hope that the African companies start to make their way on this list.
It is important that young entrepreneurs know about this information due to the way these big companies are starting to grow. Many of these high acquisition power brands are planning on planting a flag in Africa, and this could mean problems for new smaller companies that are trying to grow. This is why it is of extreme importance that Africans support the local markets and help each other so that some day it is African company names whom are on that top 100 most valuable brands.
Going back to what growth experts have established, it is recommended that for companies growing and trying to develop themselves in Africa, it is important to develop a strong and robust brand as consumption and the consumer class continues to grow. Make sure to make this one of your top priorities and always aim high.