Amazon has kept its title as the world’s most valuable retail brand, with an estimated value of $139.3 billion (£109.38 billion).
The BrandZ Top 100 Most Valuable Global Retail Brands report, compiled by WPP and Kantar Millward Brown, showed that while the online retail giant took fourth spot in the ranking behind technology firms Google, Apple and Microsoft, Amazon achieved the highest dollar value growth of all the brands in the top 100 ranking, increasing by 41 per cent, or $40.3 billion (£31.6 billion).
The report praised Amazon’s continuing innovation and its focus on its technology ecosystem honed to meet multiple consumer needs such as online shopping, rapid delivery, entertainment, as well as introducing new artificial intelligence-enabled services like personal assistant Alexa.
Meanwhile, sportswear retailer and manufacturer Adidas was named the fastest-rising brand by percentage growth thanks to its 58 per cent increase in value.
The retail sector as a whole was also identified as the fastest-rising category, with a 14 per cent uptick.
Other retail brands to make the top 100 included Nike at 26, Yves Saint Laurent at 29, and Zara at 34.