LG Electronics has earned its place as a top global brand, ranking 97th with a brand value of approximately US$6.5 billion (A$9.63 billion) in the Best Global Brands 2024 report by global brand consulting firm, Interbrand.
Interbrand’s evaluation assesses brand value through an analysis of a company’s financial performance, role of brand and brand strength. Factors such as direction, engagement and relevance are considered. Interbrand’s ISO-certified evaluation criteria is widely regarded as the most reliable methodology in branding and marketing.
LG’s brand value increased 38.7% year-over-year, receiving high scores in the role of brand and brand strength categories. Interbrand attributes this to LG’s vision as a Smart Life Solution Company and exploration of new opportunities. The company has also adapted its brand strategies to ensure consistent customer engagement across diverse regions and generations.
In July 2023, LG unveiled its vision to evolve into a Smart Life Solution Company, enhancing customer experiences across various environments, including homes, commercial spaces, mobility and virtual realms.
Since embarking on its transformation, the company’s brand value has increased from approximately US$3.1 billion (A$4.59 billion) in 2022 to about US$6.5 billion (AUD $9.63 billion) in 2024.
Interbrand also praised the LG Brand Reinvent initiative, which aims to establish LG as a youthful and dynamic brand that resonates with customers across generations and regions. LG has unified its brand message under the brand promise of Life’s Good to help everyone savour life’s moments through its products, services and communications.
In addition, LG is launching brand campaigns and pop-up events that invite future customers, particularly Generation Z, to engage both online and offline.
The global campaign Optimism Your Feed aims to spread positivity through online algorithms. This initiative amassed over 1.8 billion views within two months of its launch on platforms like YouTube and TikTok.
LG Electronics Australia and New Zealand marketing director, Gemma Lemieux said, “Over the past 18 months, we’ve focused on showing Australians how Life’s Good brings joy into everyday life and being named one of the top 100 global brands reflects the strength of our brand activities worldwide.
“In Australia, Life’s Good is more than a slogan – it’s our promise to inspire optimism and redefine how people engage with technology. In this time, our vision has come to life through our partnership with Seven’s Dream Home series, the Life’s Good with Optimism campaign, and our 30th anniversary celebrations across Australia and New Zealand. This commitment continues to drive our journey toward becoming a Smart Life Solution Company.”