LG Electronics ranks 97th in Best Global Brands 2024

LG Electronics has experienced significant growth in brand valuation, being recognised as a top global brand in the Best Global Brands 2024 report by Interbrand.

Interbrand, a global brand consulting firm, ranked LG Electronics 97th in its 2024 report, attributing a substantial brand value of USD$6.5 billion. The company's brand value saw a year-over-year surge of 38.7%, reflecting notable improvements in both business and brand competitiveness.

The Interbrand evaluation process involves an analysis that considers financial performance, the role of the brand, and brand strength, with LG receiving high scores in these areas. The consulting firm praised LG for its transformation into a Smart Life Solution Company, which has driven the company's innovative brand strategies and contributed to its impressive growth.

In July of the previous year, LG outlined its vision of evolving into a Smart Life Solution Company. This transformation aims to enhance customer experiences across various environments, such as homes, commercial spaces, mobility venues, and virtual realities. Since committing to this initiative, LG's brand value has seen a significant increase, more than doubling from approximately USD$3.1 billion in 2022 to its current valuation of USD$6.5 billion.

Key to this growth is LG's Brand Reinvent initiative. This strategy seeks to position LG as a youthful and dynamic brand that appeals across generations and regions. Through a unified brand message encapsulated in the slogan "Life's Good," LG aims to integrate this ethos into every customer interaction worldwide. Part of this strategy includes redefining its brand identity and visual expression.

Moreover, LG is harnessing online and offline platforms to engage with future customers, particularly Generation Z, through various campaigns and events. The campaign "Optimism your feed," designed to infuse positivity into online interactions, has amassed over 1.8 billion views within just two months on social media platforms like YouTube and TikTok. Additionally, LG is enhancing its connection with Generation Z by creating offline experiences that resonate with young people's interests in lifestyle, gaming, and music.

Gemma Lemieux, Marketing Director, LG Electronics ANZ, commented on the company's accomplishments: "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."

She further emphasised the company's commitment to inspiring optimism and redefining technology engagement in Australia and New Zealand: "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."

LG's recognition in Interbrand's prestigious annual report marks a return as one of the top 100 global brands, an accolade the company previously held from 2005 to 2007.