Equinor emerges as Northern Europe's most valuable brand Overtaking IKEA for first time

In a landmark shift within the branding landscape of Northern Europe, the Norwegian oil and gas powerhouse Equinor ASA has surpassed IKEA to become the region's most valuable brand, marking a significant milestone.

For over a decade, IKEA had dominated the rankings, holding the title of the most expensive brand since 2013, Caliber.Az reports per Russian media.

However, Equinor's brand value has skyrocketed by 24 per cent to an impressive €15.6 billion in 2024. This remarkable growth can be attributed to a combination of factors, including soaring revenues, a positive outlook for the future, and the company's rapid advancements in renewable energy initiatives.

In contrast, IKEA's brand value has suffered a 4 per cent decline this year, resulting in a valuation of €14.7 billion. This decrease has been partly driven by logistical challenges related to the transportation of goods amid ongoing security incidents in the Red Sea, where Yemeni Houthi attacks on shipping vessels have disrupted supply chains.

A report by Brand Finance highlights Volvo's ascent to third place among Northern Europe's most valuable brands, with a significant 29 per cent increase in brand value, now standing at €10.9 billion. Following closely behind is LEGO, which maintains its fourth position with a modest 3 per cent growth, reaching a brand value of €7.4 billion.