How would you define a successful brand? Do you analyse it with its financial earnings? Or decide based on how well-loved a brand is? According to the latest Brand Finance Global 500 2019 report launching on 22 January at the World Economic Forum in Davos in Switzerland, Ferrari is currently the strongest brand on earth.
The Global 500 is an annual report produced by independent brand valuation and strategy consultancy Brand Finance. To determine the world’s strongest brand, the consultancy took a look at elements such as marketing investment, stakeholder equity, and the impact of those on business performance. Each brand is assigned a Brand Strength Index (BSI) score out of 100. Ferrari claims the title of the world’s strongest brand this year, with a score rising from 91.5 of 94.8 out of 100 over the past year, and is also one of the 14 companies receiving an AAA+ rating. In terms of brand value it’s the world of multinational tech companies — Amazon, Apple, Google, Microsoft and Samsung are taking up the top five, but when it comes to the strength, Ferrari has overtaken all of them and other well known brands such as Rolex, Deloitte, McDonald’s, Coca-Cola, Lego, and Disney.
“As the world’s foremost luxury carmaker, Ferrari has an unparalleled level of brand recognition, upholding excellence for design and innovation. The prancing horse logo is a perfect symbol of the brand’s strength and vitality as it plans new models and reaches outside the auto industry,” said David Haigh, CEO of Brand Finance in a statement. The report also comments that Ferrari has remained synonymous with style and performance since its inception, enabling the brand to successfully extend into other sectors from merchandise to theme parks and hotel without losing its appeal as a luxury brand.
