Five Connecticut-based companies, led by Stamford telecommunications giant Spectrum, are among America’s top 100 or so most valuable brands, according to annual rankings by Brand Finance.
In its latest rankings of the nation’s top 500 brands, the London-based valuation and strategy consultancy named Spectrum, valued at $19.2 billion, as Connecticut’s most valuable brand for the fourth consecutive year. Spectrum ranks No. 43 nationally, up nine spots in the rankings compared to 2019 when the brand was valued at $15.4 billion.
Hartford health insurer Aetna, owned by Rhode Island-based pharmacy giant CVS Health, is ranked second in the state, valued at $8.4 billion. Aetna ranked 90th in the nation, although it fell 23 spots in the rankings vs. 2019.
Bristol sports media giant ESPN, valued at $8.2 billion, is the state’s third most valuable brand and ranked No. 94 nationally, also down eight spots from the year prior. The Walt Disney Co., ESPN’s parent company, ranked 9th in the U.S.
Other high-ranking Connecticut brands included Milford-based restaurant chain Subway (valued at $8 billion) and Bloomfield health insurer Cigna ($7.6 billion). Subway ranks No. 98 nationally and Cigna is No. 102.
The brands for East Hartford jet engine maker Pratt & Whitney ($3.8 billion) and Farmington-based elevator manufacturer Otis Worldwide Corp. ($3.3 billion) ranked No. 233 and No. 258 in the nation, respectively. As of April 3, Otis is trading as an independent company on the New York Stock Exchange following its spinoff from United Technologies Corp. , which is now known as Raytheon Technologies Corp.
New Britain-based manufacturing heavyweight Stanley Black & Decker was ranked No. 336, down from No. 320 in 2019, and Norwalk’s financially troubled Frontier Communications ranked No. 483, down from No. 369.
Brand Finance said The Hartford Financial Services Group is Connecticut’s fastest-growing brand after jumping in value by 29% following its $2.2 billion acquisition last year of Stamford global speciality underwriter Navigators Group Inc. The Hartford is now valued at $2.7 billion and ranked No. 292 nationally, up from 361 in 2019.
The report said Connecticut brands will suffer from the economic damage caused by the coronavirus outbreak as it estimated that companies may lose up to $11 billion in brand value.
Brand Finance said the country’s top 500 most valuable brands could lose up to 10% of value cumulatively, representing a fall of $393 billion compared to its original valuation date on Jan. 1.
The nation’s top five most valuable brands include Amazon ($220.7 billion), Google ($159.7 billion), Apple ($140.5 billion), Microsoft ($117 billion) and Facebook ($79.8 billion).
View Brand Finance’s 2020 brand value report here.
