The main purpose of this chapter is to introduce a stakeholder approach for developing branding strategies, and to discuss the importance of considering multiple stakeholders in strategic brand management. The chapter starts with an overview of classical branding theories highlighting both external and internal aspects of branding strategies, which focus on creating strong brands through managing the perceptions of customers and employees. The chapter continues with a presentation of the views adopted in contemporary branding research, applying a stakeholder approach in different contexts. The chapter addresses the theoretical assumptions and empirical evidence in regard to this approach. The discussion is illustrated with practical examples showing how multiple stakeholders can influence the outcome of branding strategies developed for building one strong global brand, which is IKEA.