Amazon has raced ahead to skip from the third spot to the first to become the world’s most valuable brand, according to 2019 100 Top BrandZ report, a market research study conducted by Kantar.

Apple continues to occupy the second spot.

The company that started out in Founder Jeff Bezos’ garage, Amazon has been able to occupy the coveted spot of the most valuable brand, across the globe. This is primarily because of Amazon’s smart acquisitions, customer care services and a business model that has been disruptive across various sectors.

When it comes to Asian companies, Alibaba secured the seventh spot with a brand value of $131.2 Bn, thus beating Tencent, the internet giant that slipped three places to come down to No. 8, valued at $130.9 Bn.

About 23 of the top 100 brands were Asian companies out of which 15 were from China. “Disruptive” business models are winning over their counterparts who are traditional in sectors such as retail, finance, and technology.

Amazon’s brand value in monetary terms increased by 52 percent to $315 Bn surpassing Apple whose brand is valued at $ 309.5 Bn and Google at $ 309 Bn. Microsoft occupied the fourth place at $251 Bn while Visa ranked at No. 5 with the value of $178 Bn. Another famous brand that everyone is looking out for in terms of breakthroughs in social networking is Facebook which ranked as the sixth largest in terms of brand value at about $159 Bn.