The Kantar BrandZ Top 30 Most Valuable Spanish Brands have not only managed to keep their heads above water during the trials of the past year, but together, they have grown by 11%, with the total value of the ranking now worth $97.8 billion.

Zara is Spain’s Most Valuable Brand for the fourth year running, with a brand value of $23.5 billion, followed by Movistar (No.2, $16.6 billion) and Santander (No.3, $8.4 billion).

Three newcomers from three different categories join the Spanish brand ranking: the insurer Mutua Madrileña (No.27, $499 million), hotel chain Meliá (No.22, $303), and the first unicorn, on-demand courier service, Glovo (No.20, $648 million). These three brands stand out for their performance in key measures that fuel brand equity: Meaning, Difference and Salience.

Leading Spanish brands are well-known and well-liked. They’re household names that people know they can depend on. What they tend to lack, Kantar BrandZ analysis shows, is a focus on innovation and making sure they remain relevant to the consumers. Stability is reassuring for consumers, but innovation promotes differentiation from the competition.

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