By Grant Shepherd

SYDNEY: Interbrand, an international brand consultancy, today released its list of the 20 best Australian brands, with well-known retailers getting an honourable mention.

The list is compiled as an indication of the value a brand holds not only economically, but in the connection it holds with the Australian consumers.

Telstra was given the crown as the top brand in Australia and banks also ranked very highly with the Commonwealth Bank, NAB and Westpac taking out 2nd, 3rd and 4th positions. Macquarie (6th), ANZ (7th), St George (9th) and Bendigo Bank (20th) also got a mention.

But it was not only banks that were honoured in the report, some retailers also performed well, taking out key positions on the list.

The highest retailer was Woolworths with 5th position, and this reflects the excellent sales figures they have received over the year.

Harvey Norman also rounded out the top half of the list, coming in at 10th position, followed by David Jones and Myer who claimed 12th and 13th positions respectively.

JB Hi-Fi scraped into the top 20 list at 19th position and this will only grow in the future, after exceptional growth in the retail sector.

“The ability to create business opportunities in the economic turndown is a representation of a strong brand,” commented Damien Borchok, Interbrand Australia managing director.

Borchok also mentioned how one of the main ways many of the brands listed performed so well is their ability to look for opportunities around the world.

“One strategy to help growth in the current economic climate is for brands to look for business opportunities globally.”

Jez Frampton, Interbrand’s chief executive, also emphasised that brand recognition is one of the sure fire ways to ensure the success of your company “the increasing complexities of the global economy only reinforce the importance of protecting and growing a brand. It is a company’s most valuable asset”.

“The top twenty best Australian brands includes a range of companies from financial institutions to retail stores and it is great to see the strength of the Australian business landscape even in times of economic instability,” Frampton continued.