Ferrari named strongest brand in the world
Ferrari is the strongest brand in the world this year, and Amazon the most valuable, according to the “Brand Finance Global 500 2019” report
Not only is Ferrari one of the world’s most desirable brands, it has also just been named the strongest brand worldwide by the latest “Brand Finance Global 500 2019” report. It is the strength of this brand that has allowed Ferrari – the epitome of Italian style and luxury – to branch into other areas, including clothing, accessories and even a luxury themed hotel, without losing its appeal or exclusivity.
Ferrari’s brand strength score increased by three points over the past year, allowing it to surpass other leading brands such as Lego, Disney, Coca-Cola and McDonald’s as the world’s strongest brand, a title it was last awarded in 2014.
Also noted in the report are the “big four” accounting and auditing firms: Deloitte, PwC, EY and KPMG. Deloitte is the strongest of the four, followed by 2018’s leader, PwC, then EY and KPMG. Controversy and corporate scandal around KPMG in recent months have resulted in it dropping by 4% in the past year. It is also the only one of the “big four” not to attain AAA+ status.
Brand Finance, an independent brand evaluation and strategy consultancy, uses criteria such as marketing investment, business performance and stakeholder equity to determine brand strength. Brand Finance reports that Ferrari came out the strongest of 14 brands that were also awarded their AAA+ rating, including other luxury car brands such as Porsche and BMW.
The big take-out
Ferrari is the strongest brand in the world this year, and Amazon the most valuable, according to the “Brand Finance Global 500 2019” report.
Brand Finance CEO David Haigh says that along with revenue, brand strength is one of the key drivers of a brand’s value. As Ferrari’s brand strength gained momentum over the past year, its brand value increased by 27% – an astounding $8.3bn. The brand has achieved its leading position in the motor industry by successfully aligning to key trends in the industry, such as the production of electrical cars and 15 new hybrid models, which will become available over the course of 2019.
No measure of global brands would be complete without Amazon, the most valuable brand according to the report, growing by 25% in the past year to reach a value of $187.9bn. Amazon is valued at $30bn more than its closest contender, Apple, the world’s second-most valuable brand this year.
The top 10 most valuable brands for 2019 as per the “Brand Finance Global 500” report are Amazon, Apple, Google, Microsoft, Samsung, AT&T, Facebook, the Industrial & Commercial Bank of China, Verizon and the China Construction Bank.