Apple has bagged topmost slot in the annual Brandz brand power list, with a 67% increase in estimated value of $247 billion.

With this, Apple has overtaken Google on the world’s most valuable brands list making the latter to slip at second position, which witnessed a boost of 9% amounting $173.6 billion.

Amanda Phillips, UK head of marketing at Millward Brown, stated that iPhone 6 and its smartwatch have helped in boosting the brand in the 2015 report. “Though the Apple Watch has proved extremely popular it is the success of the iPhone 6 that has been the main driver of Apple’s brand value growth”, said Phillips.

Three things – innovation, differentiation and purpose are important for registering success and these factors were present in Apple. As per the report, the biggest mover with regard to the growth was Facebook. It has witnessed a 99% rise in brand value from $35.7bn to $71bn.

Facebook has moved from 21st to 12th position in the list. Reasons behind its moving up act were acquisition of Instagram and WhatsApp and also the success it has witnessed in attracting advertising spend globally.

E-commerce Company Alibaba was at 13th position and was one step ahead of Amazon that fell four places to be worth $62.2bn. Walmart was at 26th position with $35 billion. The report showed a continuing rise of Chinese brands.

Now, there are 14 Chinese brands that are in the top 100. Vodafone was the highest-ranked UK brand in the top 100 and was placed at 23rd position worth $38.4 billion. Only five UK companies were able to make it to the top 100 global list. Tesco was completely out from the top 100 list.