The recovery of Spain’s economy has been reflected in this latest ranking of the most valuable Spanish brands. The total value of the top 30 brands now reaches $100 billion, the highest value since 2018, a reflection of the resilience and adaptability of brands in the face of the challenges of the past few years, as reported by El Espanol.

Highlights from this report, which is based on the opinions of more than 81,000 respondents about 1,243 brands across 94 categories, reveal:

Zara remains Spain’s most valuable brand for the sixth year, worth almost $25.0bn
Movistar (No.2; $13.0bn) and Iberdrola (No.3; $9.7bn) complete the top three
Alcohol brand Estrella Galicia joins the ranking for the first time at No.28
Apparel and Utilities deliver most value in the Spanish brand ranking
Future growth for Spanish brands lies in continuing to invest in brand building, and in the international opportunities that a global economy offers.

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Explore the infographic to see the top 10 Spanish brands at a glance, category split and highest risers. Some of the best performers in this ranking are Apparel brands. The three fastest-growing Spanish brands of the past 12 months are all fashion brands from the Inditex group – Pull&Bear, Zara, and Bershka. Yet growth has not been limited to a particular business sector; Financial Services and Utilities have also seen strong double-digit growth in value, as have Alcohol and Media and Entertainment.

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Watch the video to find out which Spanish brands have grown in value over the past year. The brands that fare best – not just in the short term but over many years – are those that develop Difference compared to everything else in their category, those that are Meaningful to consumers and make their lives better, and those that are Salient, springing to mind when consumers have a need. When the market is buoyant and category demand is high, strong, valuable brands significantly outperform their competition. 


To be eligible for inclusion in this ranking, the brand must have been created in the market and be owned by an enterprise listed on a recognised stock exchange. For those owned by private companies, financial statements must be available in the public domain. Unicorn brands must have their most recent valuation publicly available. Watch the video to learn more about the methodology behind Kantar BrandZ brand valuation rankings, which is based on a three-step process, combining financial value and brand contribution to determine a brand’s value. 

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With war and inflation having an impact on both consumer income and business operating conditions, the Kantar BrandZ Top 30 Most Valuable Spanish Brands 2023 have seen an overall decline of 9% to a total value of $89.1bn.

Zara has retained its number one place as the most valuable Spanish brand for the fifth consecutive year ($18.9bn), and accounts for 21% of the entire Top 30 ranking. Telecom Provider, Movistar, is the second most valuable brand, with a brand value of $16.2bn. Mango (No.16; $1.16bn) is the fastest-riser in the 2023 Spanish brand ranking, having increased its value by 33%.

The sole new entrant is Cabify (No.28; $317m) which has made an impact on the ridesharing world by creating an innovative service and collaborating with partner apps to constantly improve its experience.

Read more on the strategies brands can take to progress in the future in the new report, which delves deeper into the growing influence of sustainability and social responsibility.

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The Kantar BrandZ Top 30 Most Valuable Spanish Brands have not only managed to keep their heads above water during the trials of the past year, but together, they have grown by 11%, with the total value of the ranking now worth $97.8 billion.

Zara is Spain’s Most Valuable Brand for the fourth year running, with a brand value of $23.5 billion, followed by Movistar (No.2, $16.6 billion) and Santander (No.3, $8.4 billion).

Three newcomers from three different categories join the Spanish brand ranking: the insurer Mutua Madrileña (No.27, $499 million), hotel chain Meliá (No.22, $303), and the first unicorn, on-demand courier service, Glovo (No.20, $648 million). These three brands stand out for their performance in key measures that fuel brand equity: Meaning, Difference and Salience.

Leading Spanish brands are well-known and well-liked. They’re household names that people know they can depend on. What they tend to lack, Kantar BrandZ analysis shows, is a focus on innovation and making sure they remain relevant to the consumers. Stability is reassuring for consumers, but innovation promotes differentiation from the competition.

Explore our latest report, with insights on how to get the fundamentals of your brand’s strategy right.

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Download the 2021 infographic (English)

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