Zara holds on to its leading position at Interbrand’s Best Spanish Brands

Best Spanish Brands 2021
  • The leading global brand consultancy publishes the ninth edition of its Spanish brand valuation report.
  • Finance brand CaixaBank reaches TOP 5 after acquiring Bankia.
  • Acciona and Sanitas reenter the table after solid performances in energy and healthcare categories, respectively.
  • There are no technology brands in the report.

Madrid, Spain – March 1st, 2022. Zara has been named the most valuable brand in Spain, according to Interbrand’s 2021 Best Spanish Brands report, while CaixaBank’s value soars following the integration of Bankia.

The ninth edition of this biennial study analyzes the 30 most valuable brands based in Spain. It reflects a drop in total combined value of 8% compared to 2019, with 17 brands losing value – 57% of the total.

Nancy Villanueva, CEO, Iberia & Middle-East, Interbrand: ‘It is fair to note that this decline responds primarily to the financial shock associated with the pandemic and not directly to brand-related factors, as has been the case in previous editions. How rapidly brand value recovers will depend on each brand’s strength. After more than 20 years of brand valuation expertise, we observe that the world’s strongest brands can recover their pre-crisis level up to 2x faster.’

Inditex Group’s crown jewel, Zara, leads the ranking for the third time in a row, though its brand value decreased by 21% to EUR 11,842m. It is followed by the transatlantic telco giant, Movistar, whose brand value dropped by 21% to EUR 8,500m. The financial brand Santander retains third position after growing by 9% to EUR 8,139m, followed by its competitors BBVA (EUR 4,772m, -3%) and CaixaBank (EUR 1,948m, +43%).

Zara and Santander are currently the only two Spanish brands present in the annual Best Global Brands ranking, which is comprised of the 100 most valuable brands around the world.

Of the 30 brands featured in this year’s ranking, 6 saw double-digit percentage growth in comparison to 2019’s values. Top Growing Brands include CaixaBank (+43%, which became the fastest-growing Spanish bank following the acquisition of Bankia in 2020), leading retail brand Mercadona (+28%), energy players Iberdrola (+19%), Endesa (+17%), and Repsol (+12%), and the iconic Spanish football club Real Madrid (+12%).

Two new entrants have broken into the ranking. Diversified brand Acciona (EUR 217m) and healthcare brand Sanitas (EUR 202m) return at #27 and #30, respectively.

Nancy Villanueva, CEO, Iberia & Middle-East, Interbrand: ‘The report will witness a major disruption of brands in the coming years – start-ups and unicorns will become more prevalent, while current brands may disappear. Agile decision-making and empathy with employees and customers will be critical to remain relevant and sustainable. Brands play an increasingly significant influential role both in purchasing decisions and attracting and retaining talent.’


Interbrand’s Best Spanish Brands report identifies the most valuable Spanish brands by analyzing the many ways a brand benefits an organization—from delivering on customer expectations to driving economic value. Interbrand’s global methodology was the first brand valuation method to become ISO certified.

The ranking is based on a combination of attributes that contribute to a brand’s cumulative value:

  • The financial performance of the branded products and services.
  • The role the brand plays in influencing customer choice.
  • The strength the brand has to command a premium price or secure earnings for the company.

Please visit to read the full 2021 Best Spanish Brands report. To join the conversation on social media, use the hashtag #MME2021 and follow @interbrandMAD.


Paula Díaz
Communication Manager
+34 91 789 30 33
[email protected]m

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