PetroVietnam Oil Corporation (PVOIL) has become one of three retailers Forbes Vietnam enlisted to the group of Vietnam’s top 50 brands in 2020. This is the second consecutive time PVOIL was voted to the list.
On December 17th, 2020, Forbes Vietnam organized a ceremony in Ho Chi Minh City to honor the top 50 brands in Vietnam. PVOIL was among the honored enterprises.
Being organised the first time in 2016, Forbes Vietnam announced the list of 40 most valuable brands in Vietnam. Since 2019, the award has been expanded to the top 50 brands.
After five years, many brands maintained their positions in the list, while many have lost their positions, but the total brand value of the businesses on the list increased steadily over the years.
In 2016, the 40 most valuable brands had a total value of 5 billion USD. In 2018, the figure increased to 8.1 billion USD. In 2019, the top 50 brands was estimated at more than 9.3 billion USD. In 2020 ranking, brand value of the top 50 exceeded 12.6 billion USD.
The list of the top 50 brands was categorized by sector. Most businesses have a history of more than 10 years, long enough for companies to build their brand.
Being voted voted to the list of the top 50 brands in 2019 and 2020 by Forbes Vietnam, PVOIL has proven that it brands has become more and more popular in recent years. The popularity helped PVOIL to reach a large number of consumers and its high quality of products and services are constantly being promoted.
Its brand identity was also promoted. In order to achieve this result, the whole PVOIL system had to overcome many difficulties and challenges to maintain and develop the brand amid the race of gaining a larger share in the increasingly competitive market.