Mercado Libre Inc., an Argentine company, has achieved a significant milestone.
It ranks 57th globally on the 2024 Kantar BrandZ Top 100 Most Valuable Global Brands list.In 2022, MercadoLibre became the first Argentine company to enter the ranking, securing the 71st position.In 2023, it was ranked again, slightly lower at 72nd place, but this year it has climbed to within the top 60 brands worldwide, maintaining its status as the top brand in Latin America.Another notable mention from the region is the Mexican brewery, Corona, which ranked 100th.Founded in 1999, Mercado Libre had grown to become the largest e-commerce platform in Latin America by 2006.MercadoLibre Achieves New Milestone in Global Brand Value Rankings.
(Photo Internet reproduction)The report by Kantar Brandz highlights the companys strategic expansion into new geographic markets as a key driver of its early growth.Presently, Mercado Libre operates in 18 countries.
Mercado Libre dominates its key markets Argentina, Mexico, and Brazil, showcasing pioneering success from its early efforts.Since 2012, Mercado Libre has faced increased competition in its core e-commerce business, particularly from Amazon.In response, Mercado Libre has diversified by expanding its product range and categories.Founded in 2003, MercadoPago has grown into a full-service fintech platform serving B2C and B2B clients globally.
It now accounts for half of the brands revenues.The 2024 Kantar BrandZ list features leading global brands.
Apple leads with a valuation of $1.0159 trillion, followed by Google, Microsoft, and Amazon.The list features a diverse range of companies across technology, finance, and consumer goods, reflecting the dynamic nature of global brand value.