Telstra Corporation Ltd (ASX: TLS) has overtaken Woolworths Limited (ASX: WOW) to become Australia's most valuable brand according to Brand Directory.
Telstra has a brand value of US$10.707 million, up from US$8,708 million last year, compared to Woolworths value of US$7,755 million this year, down from US$8,964 million in 2015.
The next four spots are taken by the big four banks Australia and New Zealand Banking Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB).
Just eight Australian companies made the global top 500 companies, with Coles and Optus filling the remaining spots with brand values of US$4,826 million and US$3,622 million.
Just for comparison's sake, Telstra was ranked 110 in the world. Apple remains the number one global brand with a value of US$145,918 million (14 x Telstra's value), followed by Google, Samsung and Amazon.
Interestingly technology companies filled the top 7 spots, and 8 of the Top 10 globally.