Ferrari may not be the most valuable brand in the world - that distinction belongs to Apple - but it sure is the most powerful brand in the world.
That much was alluded to by a recent study conducted by British research firm Brand Finance who determined that the Prancing Horse holds the keys to the car as far as the being the most powerful brand in the world.
Sure, its brand value is only at $3.6 billion, a far cry from the brand values of Apple ($87.3 billion), Samsung ($58.8 billion), and Google ($52.1 billion). In terms of revenue, a key factor in determining brand value, there’s no way Ferrari has the legs to compete with these tech giants.
But according to Brand Finance, once you factor in other important financial metrics (net margins, average revenue per customer, marketing and advertising spend) with qualitative metrics (brand affection, loyalty, emotional attachment), then nobody can unseat Ferrari on the top of the list.
With Ferrari so used to getting compared to other automakers in the industry, being considered the most powerful brand relative to every company in the world is an achievement that’s pretty remarkable. Especially when you’re staring down a top five list that includes Coca-Cola, Google, PwC, and Hermes.
Understandably so, Ferrari chairman Luca di Montezemolo was thrilled about the results of the study. "It is always a pleasure to top any list and still more so when the competition includes some of the world’s most famous companies," he said.
"This achievement proves that even in very tough economic times, Italy can still offer the world businesses of excellence. Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them."