John Deere has again earned a spot among the world’s most valuable brands in an annual ranking completed by brand consulting firm Interbrand.

The manufacturer is now ranked 88th in the Best Global Brands research announced recently, moving up four spots from a year ago. Interbrand estimates the John Deere brand to now be worth approximately $5.4 billion, a 12 per cent increase on last year.

“A decade after the global financial crisis, the brands that are growing fastest are those that intuitively understand their customers and make brave iconic moves that delight and deliver in new ways,” said Charles Trevail, Interbrand’s global chief executive officer. Interbrand said its brand valuation is based on three key areas - financial performance of the brand; the brand’s influence on purchase decisions; and the brand’s strength to create loyalty and sustainable customer demand.

“This recognition emphasises the success of our 70,000 employees worldwide who work each day to deliver on the company’s core values of integrity, quality, commitment and innovation,” said Samuel R Allen, Deere & Company chairman and chief executive officer.

John Deere has been included in the Best Global Brand ranking since 2011, when Interbrand estimated the value of the John Deere brand to be $3.65 billion. The Interbrand methodology was the first of its kind to be certified by the International Organisation for Standardisation requirements for monetary brand valuation.