The top 100 European corporations will see their brand value erode by a whopping 1 trillion euros this year due to the impact of coronavirus pandemic on their revenue as well as profit, says a report. This brand erosion will be mostly felt by airlines, oil & gas, tourism & leisure, restaurants, and retail companies whose businesses are the worst hit, Brand Finance said in a report. However, the automobile sector led mostly by the German companies will be the main winners. Mercedez topped the list of gainers. Hotels, airlines and airports are the worst affected by the pandemic and the impact on them will increase as more and more cities are under lockdowns and governments unveil more measures of social distancing by shutting down public transport, closing borders, the report said. It can be noted that continental Europe has become the nerve centre of the pandemic. Already Italy has overtaken China in the number of deaths by a huge margin and Spain and France are also in the ...
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