Brands, Good for Business, Latvia, Rating

Inbox is the second most popular brand and Facebook is in third place. The Top 10 also includes Youtube in fourth position, Swedbank is fifth, Rimi sixth, followed by Lattelecom in seventh place, Maxima in eighth, Depo ninth and Delfi tenth.

The title of the Most Unique Brand of 2016 goes to Riga Black Balsam, Brand of the Highest Quality - to Nike, while Maxima is honored as the Most Advantageous Brand. The Fastest-Growing Brand award from the Kapitals magazine was presented to the development finance institution Altum, the Brand with Potential Award from GfK went to Selga, and PHD Latvia's Boldest Brand Award to the Road Traffic Safety Directorate. The Greenest Brand Award from Latvian Green Point was given to the Madara brand.

DDB Latvia Executive Director Andris Rubins said at the award ceremony today that brand is one of the most critical factors to a company's growth and success. The worth of a successful brand may exceed the value of the company multiple times.

DDB Latvia Strategic Director Edgars Lapins added that almost all people who participated in voting for Latvia's most favorable brand this year said it was important to them how environment-friendly a given brand was. Most companies that have been included into the ranking of the greenest brands make dairy products, food products, or cosmetics.

GfK Baltic Product Development Director Ilze Kronberga said that almost half of Baltic residents only buy their favorite brands, regardless of what other products are available. Most shop at one and the same store every day.

The most favorite brands this year were determined through an online survey and interviews with more than 2,800 Baltic residents aged 15 to 74.