The GReAT™ study on brand and architecture changes in M&A operations conducted by Brand Finance in May 2020 reveals that rebrandings can either add or subtract value in M&A operations. The study, which analyzed over 5,000 of the world's largest brands across various sectors and industries, found that rebrandings can lead to significant changes in brand equity, customer loyalty, and revenue. The study also found that the decision to change a brand is often influenced by strategic factors such as market positioning and competitive landscape. Brand Finance, an independent brand valuation and strategy consultancy, has been providing brand finance reports since 1996, helping companies and organizations connect their brand assets to financial results.