Woolies named Australia’s most valuable brand despite underpayment scandal, dethroning Telstra
With a brand value of $11.8bn, Woolworths has overtaken Telstra to become Australia’s most valuable brand, in the face of an ongoing underpayment scandal involving 5,700 staff and totalling up to $300m. The supermarket giant topped the ranking despite staff satisfaction and corporate reputation being assessed as part of the process.
Telstra dropped to second place after four years on top of Brand Finance’s annual rankings, with its brand value dropping 20% to $11.7bn, while telco rival Optus was judged the country’s strongest brand according to its brand strength index, with a score of 86.3 out of 100.