ACL Cables rises in ranks consecutively in Sri Lanka’s top 50 most valuable brands

Monday, 17 June 2019 00:33 - - {{hitsCtrl.values.hits}}

ACL Cables PLC, one of the nation’s leading cable manufacturers, has risen in ranks consecutively amongst Sri Lanka’s top 50 most valuable consumer brands.

Compiled by Brands Finance and presented by LMD, the Brands Annual 2019 survey on Sri Lanka’s most valuable consumer brands placed ACL Cables in the 44th rank, up from last year’s 45.

Proving market dominance yet again, ACL Cables is the only cable company to rank in the Top 50 Brands this year and to have continuously ascended the rankings annually.

Since 2016, ACL has consecutively been amongst the ranking of top 50 brands in Sri Lanka and today proudly holds the accolade as the only cable company with such a record. Additionally in the category of building material, ACL Cables secured its position as the third valuable consumer brand.

According to the Brands Finance evaluation criteria, ACL Cables has increased its brand value by 30% compared to last year and received an A+ brand rating.

Commenting on this year’s ranking ACL Cables Manager Director Suren Madanayake said: “Our ranking showcases an outstanding performance for ACL as a brand. This remarkable achievement acknowledges the hard effort the company has invested towards proper brand building over the last half a decade. The key being that we have been continuing a unique and consistent brand guide and brand campaign for the past 3-4 years. Thus we have been successful in paving the way for ACL as a brand to reach into the minds of consumers and continue to build a positive momentum. I would also like to thank all our business partners, consumers and stakeholders for believing in us and making ACL Cables the number one cable in Sri Lanka.”

“We also focus on continuous innovation and expansion of our product portfolio as measures to strengthen the overall brand health. We pride ourselves in offering a one-stop solution for our consumers in the category we operate; beginning from cables, moving into switches and sockets, ceiling fans, low voltage switches (breakers, trip switches etc.), and many other electrical accessories,” Madanayake added.

He noted that ACL Elegance is a novel series of switches and sockets introduced last year and to-date it has become the most demanded range in the market with expansion of the series islandwide continuing pace.

Brand Finance follows a seven-step process in evaluation, beginning with the process of identifying the top performing brands among those listed in CSE. This helps to determine the strength of the brand by developing a brand strength index (BSI). Further analysis involves brand investment, brand equity and finally the impact on business performance.

Following the above analysis each brand is assigned a BSI score out of 100 which is fed into the brand value calculation. Based on the score each brand in the league table is assigned a rating between ‘AAA+’ to ‘D’. The brand valuation approach is calculated in the league table using the ‘Royalty Relief’ approach.

ACL Cables owns a market share of 70% with revenue over Rs. 17 billion as a group. The company’s expertise has ensured many industry firsts to the market including special fire rated cables such as ACL Fireguard, ACL Fire Zero and ACL Fire Survivor. ACL Cables has also introduced a novel range of switches, sockets and electrical accessories meeting the high standards of modern consumer lifestyles.