“The brands that will thrive in the coming years are the ones that have a purpose beyond profit"says Richard Branson
Virgin boss Richard Branson has spoken about the importance of brands having a purpose, in a reaction to a study carried out by Havas Media.
In a blog post on the Virgin website, Branson references the recent Meaningful Brands study, which claimed that the majority of people would not care if 73 per cent of brands ceased to exist.
He said that the study – which found that only 20 per cent of brands have a positive impact – shows that: “the brands that will thrive in the coming years – both financially and in terms of their impact on the globe - are the ones that have a purpose beyond profit”.
Branson added that successful companies must focus on people and the planet, with reference to The B Team, a not-for-profit initiative that the Virgin mogul co-founded to “convince more and more business leaders this is a better way of doing business”.
He rounded up the entry by posting a picture of himself surrounded by smiling people, pitting the question ‘which brands would you want to continue?’. He then added: “I’m very confident the ones people love will be the ones that make a difference to the world”.
Google topped the top 25 Meaningful Brands list, followed by Samsung and Microsoft respectively.