Brand valuation: an awkward necessity or the Emperor's new clothes?

Proposes that brands must be valued and that since the late 1980s this has gathered momentum in the larger firm. Takes a bird's‐eye view of the brand valuation argument and underlines the powerful nature of brands as a defensive mechanism in a competitive environment. Argues that brand valuation has developed partly as a way of excusing excessive acquisition premiums paid in mergers and acquisitions since the late 1980s; though overspending on premiums has led to spending cuts in brand maintenance and development so reducing their value.