According to the ranking, the top 75 brands in the UK are worth a combined $263bn (£214bn).

Vodafone once again topped the list of the top 75 most valuable UK brands, which combines Bloomberg financial data from Bloomberg with the opinions of 120,000 UK consumers. 

However, the brand’s value – $26.5bn – was down 8% compared to the 2018 ranking. The company is one of only three British brands to appear in the global top 100 BrandZ rankings, along with the two other top UK players, HSBC and Shell. 

The total value of the UK’s top 75 brands declined 3% over the last year, while the top 100 BrandZ brands globally are worth 7% more than they were in 2018.

While half of the UK top 75 lost brand value, declining on average 12%, the other half grew by an average of 13%, according to the research. 

The fastest-growing companies in the ranking are Deliveroo (ranked 50th), Costa Coffee ( 47th) and BrewDog ( 57th). Three brands joined the ranking for the first time – WHSmith (ranked 68th), Aston Martin ( 69th) and Halifax ( 70th).

David Roth, CEO of WPP’s retail practice the Store, EMEA and Asia, and chairman on BrandZ, said: “Consumers perceive the fastest-growing UK brands as innovative and dynamic, with a sense of momentum and a clear point of difference. However, to keep up with accelerated growth of other global brands, these brands must now work to build on their strengths and continue to deliver a fantastic customer experience, one of the key drivers of success for disruptive brands.”