Hennessy and Moët & Chandon have both climbed up a list of the world's top 100 brands.

The listing - collated by brand consultancy Interbrand - was released today (28 July) and sees Coca-Cola as the only beverage company to make the top 20. Despite a slight fall in brand value, Coca-Cola maintained the top spot.

The US soft drinks giant saw its brand value slip by 1% to US$67bn, but was valued at US$10bn higher than Microsoft in second place.

Pepsi and Nescafe made the top 25, coming in at 22 and 23 respectively. Budweiser saw its brand value dip by 2% to US$11.6bn, placing it at 27.

In the lower reaches of the list, however, Cognac brand Hennessy came in at number 83, with its brand value rising by 12% to US$3.5bn. Champagne brand Moët & Chandon was just behind its French compatriot, at 87% with a climb of 9% in value to US$3.2bn. Diageo's vodka brand Smirnoff, meanwhile, scraped into the top 100, placing 93rd in spite of a 2% fall in value to US$3bn.

"In the majority of cases, those who made the ranking are proactively managing their businesses through a brand lens," said Jez Frampton, CEO of Interbrand. "They have recognised that their brand should be the central organising principle given the incredible value they represent."

John Allert, CEO of Interbrand UK, added: "The results from this year's ranking clearly demonstrate if brand owners do no positively and proactively manage their brand, the market will do it for them, leaving them in a vulnerable situation.  Those who have turned around their performance or generally climbed in the ranking have employed specific strategies to leverage and grow the value of their brands."

Brand value was calculated as the net present value of the earnings the brand is expected to generate and secure in the future for the time frame from 1 July 2005 to 30 June 2006.

To be considered the brands must have a minimum brand value of US$2.7bn, achieve about one third of their earnings outside of their home country, have publicly available marketing and financial data, and have a wider public profile beyond their direct customer base.