Retail giant Walmart retained the top spot, while search giant Google toppled Coca-Cola to became the second-most valued brand among the global Top 500.

The ranking was done by Brand Finance, a UK-based leading brand valuation consultancy.

Walmart's brand value increased two per cent this year. In the annual survey, Google rose from number five last year to number two.

Other technology brands in the top 10 were:

• IBM (4),
• Microsoft (5),
• and HP (9).

GE, HSBC, Vodafone and Toyota completed the top 10 list.

Among Indian brands, Tata ranked a high 64, while Reliance was ranked 107.

The State Bank of India was ranked 186, while Airtel was placed 288.

Wipro was at 379, while Infosys Technogies was ranked 423. Among banks, ICICI was ranked 439.

"During the recession value-for-money brands have done well including Walmart, Coca Cola, Tesco, to name a few.

"Many luxury brands have slipped but a small number of iconic luxury brands have done remarkably well. For example, Christian Dior and Porsche," explains David Haigh, CEO of Brand Finance plc.

Brand battle
Ranking		Name	Brand Value ($ Mn)
2010	2009		2010	2009
1	1	Walmart	41,365	40,616
2	5	Google	36,191	29,261
3	2	Coca-Cola	34,844	32,728
4	3	IBM	33,706	31,530
5	4	Microsoft	33,604	30,882

Suffering most were non-essential sectors like airlines and retail.

Of the top five airline brands, only Singapore Airlines, which came out top in that sector, climbed the table.

The biggest airline 'fallers' were Japan Airlines, American Airlines and British Airways, down 181, 169 and 117 places, respectively.

In the retail sector, excluding Walmart, the picture is grim, notes Brand Finance.

The only other retailers to climb were Walmart-owned ASDA, up from 107 to 80; H&M, which rose from 146 to 93 and Home Depot, up from 24 to 21 in the overall Global 500.

McDonald's remains the second most valuable retail brand, despite slipping from 12 to 17 in the Global 500.

Tesco, which has aspirations of international expansion itself, is listed in the food sector rather than retail, but saw its brand value rise by a significantly higher rate than Walmart - up 26 per cent to $20.7 billion.

However, its brand value remains only half that of its American rival.

Of the 'new' iconic brands, every businessman's favourite accessory, Blackberry, appears in the Global 500 for the first time, while Apple has climbed from 27 to 19, with a 45 per cent increase in its brand value.

Santander, the Spanish banking group, rises from 41 to 12, increasing in brand value by 136 per cent.

Although Asia only experienced a 31 per cent growth in brand value, it continues to perform well, particularly in India and China where bank brands have grown by 137 per cent and 58 per cent respectively, says the report.

Brand Finance, headquartered in London, first issued its global report into the relative equity of the 250 top global brands back in 2007.

In 2008, the study was extended to analyse the top 500 brands worldwide. The Global 500 report is published annually and incorporates data from all listed companies globally.

Each brand is accorded a brand rating: a benchmarking study of the strength, risk and future potential of a brand, relative to its competitor set, as well as a brand value: a summary measure of the financial strength of the brand.