Internet search company is big winner in list of 100 most valuable global brands

Even in the midst of a global economic downturn there is one company, it would seem, that is resistant to the recession. Can't think of the household name that has bucked the slump? Try Googling it.

The internet search company was the biggest winner in the definitive list of the 100 most valuable global brands published today. Unsurprisingly, given the events of the last 12 months, banks and financial service companies accounted for four of the top five biggest fallers in the Interbrand top 100.

The brand value of investment bank UBS was halved to $4.37bn (£2.65bn) from $8.74bn a year ago. Financial firms Citi, Morgan Stanley, American Express, and HSBC suffered double-digit declines in the value of their brands, as did JP Morgan and Goldman Sachs.

Google, which dominates the global search market and has expanded into software, video, email, mapping and web browsing, saw its brand value soar by 25% in the last 12 months – more than any other company in the top 100 – to $31.98bn. The search company led a strong performance by the technology sector, with big rises for Amazon, BlackBerry and Apple, which broke into the top 20 global brands for the first time on the back of a 12% rise in its brand value to $15.43bn.

Clothing retailers Zara and H&M also saw double-digit rises despite the recession and were applauded by Interbrand for offering "affordable enjoyment in chaotic and worrying times". Top-tier luxury brands such as Ferrari also did well.

"Brands need to collect loyalty and the trust in financial services has diminished for obvious reasons," said Graham Hales, managing director of Interbrand UK, blaming economic instability and the "perceived lack of security" among banks for their poor performance.

"It is now becomes a question of how they move on from this position," Hales added. "The market feels like it has been hit by a hurricane, and there is clearly still a long-term lack of confidence in these brands. You need to rebuild very quickly to get back to a position of strength."

Barclays, which does not feature in the top 100 because of its lack of global presence, had "actually done very well", said Hales. "They have demonstrated a greater sense of confidence and conviction in their brand. They opted away from taking the government bailout and they are re-emerging faster than the others."

The top five brands in 2009 were identical to the top five of 2008. Coca-Cola topped the poll with a value of $68.73bn – up 3% – followed by IBM, Microsoft, GE and the highest-ranked non-US company, Finnish mobile phone producer Nokia.

The recession appears not to have dulled consumers' appetite for fast food, with sixth-placed McDonald's one of four high street fast food outlets in the top 100, along with KFC, Burger King and Pizza Hut, which all rose up this year's list.

Harley-Davidson fell 23 places and lost 43% of its brand value. Hales attributed the drop to the "changing nature of male bravado". "We don't feel so smart sitting on top of a big noisy polluting engine anymore. Conversely, Ferrari has held its own because it is a top luxury brand and it produces so few cars each year that it is relatively unexposed to the overall dynamics of the market."

Interbrand's survey is based on factors, including the economic earnings that a brand creates and the role that it plays in driving demand for a company's products and services.