​Slip and slide: Ten brands that shed the most value in 2023

Oct 2, 2023

By: Katya Naidu

TCS on top but tech hits a low

Consumer insights company Kantar has released its list of Top 75 brands whose combined value stands at $379 billion in 2023. While tech brands lost value due to global uncertainties, TCS topped the list, as expected.

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Adani Gas sheds half of its value

Rank: 50Call it the Hindenburg effect. Adani Gas’ brand value has fallen 56 percent in 2023 and stands at $1.9 billion.

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Zomato squash

Rank: 57Unlike tomato, Zomato has shed 43 percent of its brand value which now stands at $1.7 billion. The food delivery app, like other startups like Swiggy and Oyo, has shed value due to retrenchments and funding winter primarily.

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Wipro’s tech slip

Rank: 23India’s fourth largest IT company Wipro has shed value like most of its peers. However, its fall has been the steepest at 42 percent, and the brand is now worth $3.9 billion.

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LIC’s public troubles

Rank: 11 After its stock market debut last year, LIC’s stock has come off its highs sharply. This seems to have impacted the valuation of the 67-year-old brand. In 2023, the value of ITC has fallen 32 percent and is now worth $8.4 billion.

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Nykaa’s hazy spotlight

Rank: 38Like LIC, Nykaa too has seen pressure after its market debut. Added to that, strong competitors, like Tira, have emerged in the market. The value of the brand is down 36 percent in 2023 and is now worth $2.3 billion.

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ICICI Prudential the outlier

Rank: 66Even as most financial services companies have added to their value, ICICI Prudential has shed 24 percent in 2023. It's now worth $1.3 billion.

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PayTM’s Catch 22

Rank: 56PayTM, like its startup peers, has been inching towards a path to profitability. While that has helped its stock value, its brand valuation is down 24 percent to $1.8 billion. Almost all startups have seen brand value losses as their marketing budgets and cash burns have been slashed.

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Jobless growth?

Rank: 36Naukri.com has shed 23 percent of its brand value which is now worth $2.5 billion, according to Kantar.

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Tech Mahindra

Rank: 55While its auto biz cousin’s brand value has seen a big 48 percent rise, TechM has fallen with its IT peers. Its brand value has lost 19 percent and is now worth $1.8 billion.

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​The Domino(s) effect

Rank: 68Domino’s Pizza’s brand value has slipped 18 percent to $1.3 billion in 2023. While most fast food chains found favour during the lockdowns due to Covid-19, they’ve quickly gone back to pre-pandemic realities.

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