World’s most valuable brands: Apple No.1; Coca-Cola falls to No. 3

Coca-Cola fizzled in 2013, falling two spots from its ranking as the world’s most valuable brand, according to a closely watched report released Monday.

Coca-Cola was replaced by Apple in the 2013 report by Interbrand, a brand consulting company owned by the Omnicom Group.

The report ranks companies based on a factors including financial performance and brand loyalty. The global report ranks companies that have a presence on at least three major continents.

In its latest rankings, Interbrand estimated the worth of Apple’s brand to be $98.3 billion, up 28% from the year before.

The introduction to Apple’s description reads like a gushing tech review: “Every so often, a company changes our lives, not just with its products, but also with its ethos,� the report begins. “Few brands have enabled so many people to do so much so easily, which is why Apple has legions of adoring fans, as evidenced by the record-breaking launch of the iPhone 5c/5s.�

Coca-Cola’s brand worth also rose, the report said, but not enough to keep it in the top spot. The soft drink maker’s brand worth was estimated to be $79.2 billion, up 2% from the year before.

“Though the soft drink giant slips to #3 this year, Coca-Cola has enjoyed a long and illustrious reign as our #1 Best Global Brand for good reason,� the report said. “An enduring classic that has evolved over its 127 years, Coca-Cola remains the most recognizable -- and one of the most valuable -- brands in the world.�

The top 10 also include Google (No. 2, worth $93.2 billion), McDonald’s (No. 7, worth $42 billion), and Toyota (No. 10, worth $35.3 billion).

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