TCS joins elite $5-billion brand value club, added $1 billion in 2012
5 March 2013 7:22 AM IST
India’s largest software exporter Tata Consultancy Services (TCS) said on Monday that its brand value has jumped by over $1 billion in 2012, a growth of nearly 29 per cent, to cross the $5 billion mark.
Quoting the latest report from international brand valuation firm Brand Finance, TCS said that its ‘brand value rose to $5.247 billion in 2013, up from $4.068 billion in 2012. This is an increase of $1.179 billion or a growth of 28.9 per cent.’
Tata Consultancy Services also informed that TCS is the single largest contributor to the overall Tata brand, which is now ranked as the world’s 39th most valuable brand with a combined brand valuation of $18.23 billion.
The Tata Group company also said that it has retained its position among the ‘Big 4’ most valuable information technology (IT) services brands worldwide. It further said that the company attained the highest rating of AA+ in brand strength during the year. Just three IT companies have an AA+ rating.
The London-based Brand Finance assesses the value of brands in dollar terms in regard to reputation, image and intellectual properties.
Commenting on the recognition, TCS Managing Director and Chief Executive N Chandrasekaran said, “The rapid evolution and recognition of brand TCS at a global level is a testament to the passion and dedication of our over 2,60,000 employees, who as ‘brand ambassadors’ continue to ensure an industry leading client experience, which keeps strengthening our reputation and brand in the global market.”
“TCS continues its rapid increase in brand value and cements its position as a ‘Big Four’ IT services brand. Its strong performance across brand related activities like client engagement, community development, sponsorships and employee satisfaction has earned it a place in the elite club of only three AA+ rated IT services brands,” said Brand Finance CEO and founder David Haigh.
TO MEET 50 STARBUCKS CAFE TARGET IN 2013: TATAS
Tata Global Beverages (TGB), which has a joint venture (JV) with the US-based Starbucks, said on Monday that it will meet its target of opening 50 outlets of the world's largest coffee chain in India by this year, a delay of one year from the original schedule. Tata Starbucks, the equal joint venture of the two firms that has earmarked an investment of Rs 400 crore, has so far opened only seven cafes in the country against its target of opening 50 outlets in the country by 2012.
'It has been delayed because finding location of the real estate has not been easy and we wanted to make sure the model is perfectly stuck (with the Starbucks model),' said TGB Vice-Chairman R K Krishna Kumar. Tata Starbucks had opened its first outlet in India in October 2012 in Mumbai, where it currently has four cafes.
This year it has opened two outlets at Indira Gandhi International Airport and one at Connaught Place, New Delhi. 'Now this year, we will start rolling out many more (Starbucks cafes),' added Kumar without sharing details.
Asked specifically if the company would be able to meet last year's target this year, he replied, 'I don't think it will get delayed (further). 2013 will be a very explosive growth phase. By the end of this year, I am sure they will reach that.'
Last month when Starbucks Coffee President (China & Asia Pacific) John Culver visited India, he remained non-committal on by when it would be able to reach the milestone but said that the country would become one of its top five global markets in the long-term. During a joint press conference in January last year, Krishna Kumar and Culver had announced plans to open 50 cafes in the country in 2012, entailing an investment of Rs 400 crore.
Quoting the latest report from international brand valuation firm Brand Finance, TCS said that its ‘brand value rose to $5.247 billion in 2013, up from $4.068 billion in 2012. This is an increase of $1.179 billion or a growth of 28.9 per cent.’
Tata Consultancy Services also informed that TCS is the single largest contributor to the overall Tata brand, which is now ranked as the world’s 39th most valuable brand with a combined brand valuation of $18.23 billion.
The Tata Group company also said that it has retained its position among the ‘Big 4’ most valuable information technology (IT) services brands worldwide. It further said that the company attained the highest rating of AA+ in brand strength during the year. Just three IT companies have an AA+ rating.
The London-based Brand Finance assesses the value of brands in dollar terms in regard to reputation, image and intellectual properties.
Commenting on the recognition, TCS Managing Director and Chief Executive N Chandrasekaran said, “The rapid evolution and recognition of brand TCS at a global level is a testament to the passion and dedication of our over 2,60,000 employees, who as ‘brand ambassadors’ continue to ensure an industry leading client experience, which keeps strengthening our reputation and brand in the global market.”
“TCS continues its rapid increase in brand value and cements its position as a ‘Big Four’ IT services brand. Its strong performance across brand related activities like client engagement, community development, sponsorships and employee satisfaction has earned it a place in the elite club of only three AA+ rated IT services brands,” said Brand Finance CEO and founder David Haigh.
TO MEET 50 STARBUCKS CAFE TARGET IN 2013: TATAS
Tata Global Beverages (TGB), which has a joint venture (JV) with the US-based Starbucks, said on Monday that it will meet its target of opening 50 outlets of the world's largest coffee chain in India by this year, a delay of one year from the original schedule. Tata Starbucks, the equal joint venture of the two firms that has earmarked an investment of Rs 400 crore, has so far opened only seven cafes in the country against its target of opening 50 outlets in the country by 2012.
'It has been delayed because finding location of the real estate has not been easy and we wanted to make sure the model is perfectly stuck (with the Starbucks model),' said TGB Vice-Chairman R K Krishna Kumar. Tata Starbucks had opened its first outlet in India in October 2012 in Mumbai, where it currently has four cafes.
This year it has opened two outlets at Indira Gandhi International Airport and one at Connaught Place, New Delhi. 'Now this year, we will start rolling out many more (Starbucks cafes),' added Kumar without sharing details.
Asked specifically if the company would be able to meet last year's target this year, he replied, 'I don't think it will get delayed (further). 2013 will be a very explosive growth phase. By the end of this year, I am sure they will reach that.'
Last month when Starbucks Coffee President (China & Asia Pacific) John Culver visited India, he remained non-committal on by when it would be able to reach the milestone but said that the country would become one of its top five global markets in the long-term. During a joint press conference in January last year, Krishna Kumar and Culver had announced plans to open 50 cafes in the country in 2012, entailing an investment of Rs 400 crore.
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