The value of Spanish brands rebounds and surpasses pre-pandemic levels

Interbrand presents the report featuring the 30 most valuable Spanish brands.

The total value of the list grows by 10% compared to 2021.

Zara, Santander, and Movistar are the most valuable Spanish brands.

Cupra enters directly into the 11th position, with a value of 1,208 million euros.

Meliá and Logista are the other two new entries on the list.

Loewe, the fastest-growing brand, with a 25% increase.

The aggregated value of the Top 5 accounts for almost 70% of the total value of the ranking.

27th February 2024

Spanish brands regain the value lost during the pandemic and surpass pre-2019 levels, according to Interbrand’s 2023 Best Spanish Brands report, the biennial study that includes the 30 most valuable brands in Spain.

Zara leads the list for the fourth consecutive edition, with a value of 14,735 million euros, a 24% increase compared to 2021. It is followed by Santander (which climbs to the second position) with 8,580 million euros (+21%); Movistar, with 7,287 million euros (-14%); BBVA, with 5,643 million euros (+18%); and CaixaBank, with 2,261 million euros (+16%).

The aggregated value of the table amounts to 55,873 million euros, a figure that reflects a 10% increase compared to 2021 and a 0.5% more than in 2019. Only the Top 5 accounts for almost 70% of the total value of the ranking.

“Interbrand’s valuation sets a value for the brand according to its ability to generate growth for the business. The results of this report, in this regard, tell us that the most valuable Spanish brands are capable of continuing to drive company results,” said Nancy Villanueva, CEO of Interbrand for Iberia and the Middle East. “And they do so in an environment that invites conservatism, to protect the heart of the business and postpone audacity for better times. However, it is in periods like the current ones that opportunities arise because the rules, standards, and conventions change,” she added.

Cupra takes center stage as the surprise of the edition with a direct entry into the 11th position, reflecting the multiplication of its value up to 1,208 million euros. Additionally, the hotel chain Meliá (#28, 218 million euros) and the distribution company Logista (#30, 198 million euros) make their debut on the list.

With a value of 481 million euros, the luxury brand Loewe emerges as the brand that has gained the most value in 2023 Best Spanish Brands, with a 25% increase compared to 2021. Also noteworthy are Zara (+24%), Santander (+21%), BBVA (+18%), and Banco Sabadell (+16%).


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 2023 Best Spanish Brands report. To join the conversation on social media, use the hashtag #MME2023.


Paula Díaz
[email protected]

Interbrand has been a world leading brand consultancy for over 5 decades – having pioneered iconic work and forged many of the brand building tools that are commonplace across the industry today.

In collaboration with the world’s leading brands, Interbrand’s global team of thinkers and makers are pioneering the future of brand building. By turning customers into active participants, Interbrand helps clients strengthen their brands on an ongoing basis – its approach gives them the confidence to make Iconic Moves that spark desire and create utility, driving extraordinary results.

Interbrand is a part of Omnicom’s (NYSE:OMC) Brand Consulting Group.