Glovo, Mutua and Meliá enter Spain’s Most Valuable Brands ranking for 2021

The total value of the Top 30 grew by 11% versus 2020, with Zara, Movistar and Santander remaining Kantar BrandZ’s top three Most Valuable Spanish Brands.
20 January 2022
BrandZ Spain
Ricardo Perez

Head of Brand Guidance, Insights Division, Spain

Get in touch

Glovo, the delivery platform, is the first unicorn to enter Kantar BrandZ’s Most Valuable Spanish Brands ranking, at number 20, with a brand value of $648 million. Its entry in the new Service Platforms category reflects the continued growth of digital and ecommerce. The platform is convenient, offering a service that is very close to users’ needs, but also stands out for its communication and for its ability to be perceived as different versus competitors, an essential attribute for business growth.

With more than 90 years in the Spanish insurance market, Mutua Madrileña, enters the Spanish brand ranking at number 22, with a value of $499 million. It joins Catalana Occidente and Mapfre in the Insurance category, which this year exceeds $15 billion and significant growth of +41%. The Mutua brand has developed a strategy exploiting local pride and a sense of belonging through its high levels of service, in addition to capturing the interest and attention of customers through its pricing policy and slogan, “Whatever the price, we will lower it.”

The third highest newcomer is the hotel chain, Meliá, in position 27, with a value of $303 million. Improvement in expectations of tourism after COVID-19, the easing of travel restrictions and the growth in the percentage of vaccinations has generated a boost for brands in the tourism sector, especially those considered trustworthy. Meliá stands out especially for its experience, creating positive memories and associations through its understanding and care for customers. Meliá joins Iberia in the Travel category, which has doubled in value compared to the previous year.

Entering Spain’s Most Valuable Brands ranking is increasingly difficult since the brand value threshold has grown by 32% in the last year. The entry of Glovo, Mutua Madrileña and Meliá is true recognition of great brand strategy at work in three very different sectors. These three brands stand out for their strong performance in the key metrics that drive brand equity: Meaningfulness, Difference, and Salience. These are the attributes that characterise strong and growing brands around the world.

The Spanish brand ranking shows little change in the top ten positions. Zara leads the ranking 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).

Positions four to eight are also unchanged from the previous year featuring: Iberdrola (No.4, $8.2 billion), BBVA (No.5, $7.3 billion), Endesa (No.6, $6.4 billion), Naturgy (No.7, $4.2 billion) and Repsol (No.8, $2.6 billion). With a brand value of $2.2 billion, Mercadona reaches ninth position for the first year, with Massimo Dutti now ranking tenth with a brand value of $2 billion.

These 10 brands account for 83% of the total value of Spain’s brand ranking, a figure higher than that of other markets. The total value of the Top 10 brands in France and Italy account for 78% of the total rankings, 68% in US and 62% in the UK.

It is common for most of the value of Kantar BrandZ’s rankings to be concentrated at the top of the list, but this situation is especially acute in the case of the Top 30 Most Valuable Spanish brands. The top three Spanish brands: Zara, Movistar and Santander together account for 65% of the value of the entire Top 30. There has been no new entry into the Top 10 Spanish brands since 2018.

The Kantar BrandZ Top 30 Most Valuable Spanish Brands 2021

Rank 2021



Brand value 2021 (USD Mil)

Brand value change (2021 vs 2020)








Telecom Providers







































Massimo Dutti




Despite the difficulties of the year, the overall brand value of Kantar BrandZ’s 2021 ranking of the Most Valuable Spanish brands grew by 11%, from $88.4 billion in 2020 to $97.8 billion in 2021.

Much of the ground lost following the pandemic (though not all of it) has been regained, and many brands have made progress by focusing on differentiation, which Kantar BrandZ analysis shows as essential to driving growth.

Innovation continues to be a growth opportunity for the Most Valuable Spanish Brands. They are well known and appreciated, but Kantar BrandZ data shows that they lack on perceptions of being innovative. Except for brands, such as Mercadona, which stands out for changing things, or Glovo for being unique, many of the most important and influential brands in the country are behind the global average on key innovation indicators. Being perceived as an innovative brand has a direct impact on business results. Kantar BrandZ’s study shows that globally, the fastest growing brands between 2020 and 2021 were the ones that performed well on attributes that contribute to being perceived as innovative. Innovation could be improved by increased investment and a long-term brand strategy to transform a category. Spanish brands must ensure that they remain relevant to consumers who know their brand well and adapt constantly to their changing needs.

For more insights, download the full Kantar BrandZ Most Valuable Spanish Brands 2021 ranking, report and extensive analysis here.

Get in touch
Related solutions

The definitive guide to brand-building.

Discover how strong brands provide value for businesses and shareholders. 

Brands with strong equity are destined to grow. Knowing your equity and how to build it is the foundation for success.
Kantar BrandZ Spain 2023 Report
Discover Spain’s most valuable brands, and how meaningful consumer connections can deliver value faster.
View the report