Singaporean NTUC FairPrice is recognised as Southeast Asia’s most valuable retail brand in Interbrand’s Best Retail Brands 2014.
NTUC FairPrice has an estimated brand value of US$1.52 billion and ranks ahead of Philippines’ SM, Indonesia’s Matahari and Malaysia’s Parkson.
According to the Interbrand report, FairPrice’s mission of being a ‘world-class retailer with a heart’, its corporate citizenship commitment to staff and the community, affordable private-label (housebrand) products as well as innovations such as self-checkout counters and automated warehouse systems, have helped it reach its high ranking.
“We are humbled by the recognition and value accorded to the FairPrice brand. We take pride in flying high the Singapore and NTUC flag in this highly competitive retail scene in the Asia Pacific region,” said NTUC FairPrice CEO Seah Kian Peng.
“Our commitment in cultivating a strong brand identity has always been through providing high quality products, exceptional service standards, and maintaining a customer centric approach. Our brand affiliation has also been forged by our efforts to give back to the community as we do well.”