EQUiTOR Value Advisory has been a trailblazer in the field of strategic brand valuation for over 23 years, helping businesses unlock the immense value of their intangible assets. With a belief that while tangible assets account for only 20% of a business’s value, the remaining 80%—its intangible assets—often remain underutilized, EQUiTOR has made a significant mark in bridging this gap. Founded on November 15, 2000, the company has been instrumental in enhancing business value, adding an impressive USD 6 billion in enterprise value to its clients over the last decade.
At the helm of this remarkable journey is Ramesh Jude Thomas, popularly known as RJT. As the Founder and CEO of EQUiTOR, RJT has pioneered the concept of brand valuation as a critical strategic tool in India, partnering with Interbrand to bring this game-changing approach to businesses. His groundbreaking work began with India’s first strategic brand valuation for Titan Industries Ltd. and expanded to numerous companies within the Tata Group. RJT’s thought leadership has redefined how Indian and global businesses view and manage their brands as essential assets.
MediaNews4U engaged in an insightful conversation with Ramesh Jude Thomas to explore his journey, his views on the evolving significance of intangible assets, and the future of strategic brand valuation:
1) EQUiTOR has been a pioneer in brand valuation. How has the approach to valuing intangible assets evolved over the past two decades?
Three decades ago, a company’s value was largely based on tangible assets, but today, intangible assets like brand value and intellectual property dominate. Despite this shift, outdated accounting frameworks fail to capture their significance, creating a disconnect between reported and actual value. This leads to skewed financial metrics and misrepresented performance. To bridge this gap, businesses must scientifically value intangible assets, report them transparently, and integrate them into decision-making. By doing so, companies can refine financial metrics, enhance accountability, and harness their true value more effectively, ensuring a more accurate and strategic approach to business success.
2) India 3.0 is an ambitious initiative. What are the key criteria EQUiTOR uses to identify the 10 Indian firms that could become global leaders?
The primary criterion for India 3.0 is “world-class before worldwide.” EQUiTOR aims to help Indian companies focus on significance rather than just scale. Traditionally, India has pursued scale, but to be recognised globally, companies need to establish what they are known for, who values them the most, and the standards they set. EQUiTOR looks for Indian companies that already demonstrate these characteristics, even if they are currently under the radar. These companies go beyond cost efficiencies and scale—they create a unique value that makes them indispensable in the global market.
3) In your experience, what are the most common misconceptions businesses have about their intangible assets?
One of the biggest misconceptions arises from traditional accounting mechanisms, which fail to properly recognize intangible assets. As a result:
• Companies only see 20% of their real value in quarterly financial reports.
• Intangibles like brand value, R&D, and patents are treated as costs rather than assets.
• The impact of branding and innovation is often not measured or valued.
• Many businesses don’t realize that their brand or intellectual property (IP) could be worth multiple times their physical assets.
• Even though companies invest in R&D and branding, they fail to recognize that these efforts create long-term value rather than just short-term expenses.
4) With AI and digital transformation reshaping industries, how does EQUiTOR see the role of brand value and intellectual property changing?
AI and digital transformation are changing the form and function of businesses, much like the internet did. However, what remains unchanged is that:
• Brands are still about choices, and customers continue to engage with businesses based on trust and value.
• AI may automate processes, but the importance of branding, trust, and differentiation remains the same.
• Just as the internet changed how people access information but didn’t change the need for engagement, AI will optimize efficiency without replacing the need for strong brand identity and intellectual property protection.
5) The Titan case study is fascinating. Can you share another instance where EQUiTOR’s intervention led to significant business transformation?
One such case involved India’s largest dairy and food products company, originally established to drive self-sufficiency in food production. As it grew into a trusted provider of essential commodities, its leadership sought to rediscover the core strengths that fueled its success.
EQUiTOR led a strategic discovery process and workshops, helping redefine the company’s DNA and align its legacy with future ambitions. Cross-functional teams then explored new growth avenues by leveraging intrinsic brand value drivers.
This transformation not only reinforced market leadership but also equipped the company with a future-ready framework for sustained success.
6) How do you measure the success of your brand recasting and value unlocking process?
Success is measured not just by stock price movements but by fundamental business growth. The key metrics include:
• Customer Reach – Are more customers engaging with the brand?
• Product Freshness – Are new and relevant offerings being introduced?
• Profit Margins – Is the company able to charge premium prices due to brand strength?
• Customer Loyalty – Are customers returning and advocating for the brand?
• Stock market recognition is a byproduct, not the primary goal. Companies like Titan and Tata Motors have shown how brand-building leads to long-term shareholder value.
7) What are some of the biggest challenges EQUiTOR faces when helping businesses recognise and monetise their intangible assets?
The biggest challenge is businesses themselves—their own belief (or lack thereof) in their intangible assets. India has traditionally focused on supply chains and cost efficiencies, making companies more comfortable measuring tangible assets than valuing demand-side factors like brand influence and innovation. There is little sophistication or structured metrics for branding and demand-side growth. Businesses need to understand that demand creation and innovation are critical for long-term value, not just operational efficiency.
8) Which industries do you see as having the greatest untapped potential for brand-driven growth?
• B2B (Business-to-Business) industries have massive untapped branding potential.
• While B2C (Business-to-Consumer) branding gets more attention, 61% of the world’s economy is B2B.
• In B2B, losing one major client is far riskier than losing a few retail consumers, making branding even more crucial.
• EQUiTOR believes branding is sector-agnostic, meaning that all industries can benefit from stronger brand positioning.
9) What role do global strategic partnerships, like the one with KPMG and Dentsu, play in EQUiTOR’s long-term vision?
Global strategic partnerships, like the one with KPMG, play a key role in EQUiTOR’s long-term vision by acting as an ancillary and additional layer to their work. While the partnership with Dentsu has not progressed significantly beyond discussions at the CEO level, KPMG provides EQUiTOR with access to a broad client base, spanning multiple categories and high-level corporate offices.
With an extensive network and a large team driving conversations, KPMG often encounters situations where unlocking value requires a deep understanding of intangibles. In such cases, EQUiTOR steps in as a specialist, offering the expertise needed to engage meaningfully with clients on this subject. This partnership is mutually beneficial—while KPMG integrates EQUiTOR’s expertise into its value-driven discussions, EQUiTOR gains access to high-level conversations that might not have been possible otherwise.
