Biggest companies set to lose US$1 trillion in brand value in the time of COVID-19
The COVID-19 pandemic is set to cost the biggest companies worldwide a loss of approximately US$1 trillion in brand value. Based on the severity of enterprise value loss observed for the sectors between January and March this year, Brand Finance classified the sectors into three categories – limited impact (-0%), moderate impact (-10%) and high impact (-20%).
Sectors such as household products, telecommunications, pharmaceuticals, cosmetics and personal care were among those predicted to witness limited impact. Meanwhile, tech, healthcare, automobile, and logistics were among the sectors to be moderately impacted. The most impacted sectors, according to Brand Finance, included leisure and tourism, banks, apparel, oil and gas, insurance, as well as aerospace and defence.