Finland’s brands are as durable as a Nokia phone

• Despite a small decline (less than 1%) in brand value, Nokia is Finland’s most valuable brand with a €7.5 billion brand valuation in 2024 ranking
• Sweet success: After ranking 9^th last year, Fazer is now Finland’s second strongest brand
• Powering up: Wärtsilä jumps 36% to €801 million, becoming Finland’s fastest-growing brand

View the full Brand Finance Finland 25 ranking

Valued at€7.5 billion, Nokia remains Finland’s most valuable brand, according to new data from Brand Finance, the world’s leading brand valuation consultancy. Fazer made its debut into top 10 ranking of Finnish brands with 20% brand value growth over last year, when the confectionary brand ranked 14^th.

In addition to its €842 million brand value, Fazer’s brand strength has also seen a significant improvement and has become Finland’s second strongest brand with a Brand Strength Index (BSI) score of 77.7 out of 100 and a corresponding AA+ rating. According to Brand Finance’s research, the brand achieved improved scores for both familiarity and reputation.

“In the ever-evolving landscape of global economics, Finland’s brands are generally steadfast, with some sectors like Logistics (up 35%), Food (up 29%), and Oil & Gas (up 17%) proving to be particularly resilient. Looking ahead, the Bank of Finland expects Finland’s economic recovery to be slow – to maintain brand strength, it is imperative that Finnish brands continue to proactively enhance their brand impact. This approach ensures Finnish brands are front of mind for consumers as consumption and purchasing power increase.”

Anna Brolin, Managing Director, Brand Finance Nordics

Alongside Fazer, Valio (brand value up 27% to EUR1.8 billion) is Finland’s biggest food exporter, overtaking engineering brand Kone (brand value down 10% to EUR1.7 billion) to become Finland’s fourth most valuable and third fastest-growing brand.

Finland’s food brands continue to be perceived as sustainable, with high scores in ESG metrics, according to Brand Finance research. In the engineering sector, Wärtsilä (brand value up 36% to EUR801 million) has become Finland’s fastest-growing brand alongside growing demand for sustainable technologies in the energy and maritime sectors.

The country’s reputation for sustainability is also reflected in Brand Finance’s Global Soft Power Index 2023, where it ranked 10^th out of 121 countries for the metric “Sustainable Future”. With Sunday’s election of Alexander Stubb as President of Finland, we are reminded of the intricate dynamics of international relations and the ever-present geopolitical challenges facing nations at the borders of major powers, such as Russia. As a speaker at our Global Soft Power Summit in London two years ago, President Stubb’s insights into navigating these complexities have never been more relevant. His leadership exemplifies the strategic use of soft power in fostering dialogue and understanding in an increasingly interconnected world.