Amazon and Apple are still the world’s most valuable brands according to a Kantar Brand Z survey. However, as Reuters noted, Chinese firms are hot on their heels.

“Chinese brands are steadily and slowly progressing, and have made significant headway as more companies leverage their own technological developments and demonstrate their abilities to align with the major trends shaping China and the global market,” said Graham Staplehurst, global strategy director at Kantar BrandZ. Five brands more than doubled their value, led by Chinese e-commerce giants Pinduoduo (PDD.O) and Meituan (3690.HK), China’s top liquor maker Moutai (600519.SS), China’s TikTok and America’s Tesla (TSLA.O). Tesla, founded in 2003, was the fastest growing brand and became the most valuable car brand, growing its value by 275% year-on-year to $42.6 billion, Kantar said.

Check It Out: Amazon and Apple Most Valuable Brands, but Chinese Firms Closing in

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