Brand Finance Global 500 confirmed the Prancing Horse position with a BSI score of 94.1
Ferrari received the title of the world’s strongest brand for the second consecutive year by Brand Finance Global 500. The leading international independent brand valuation and strategy consultancy firm puts to the test the world’s biggest brands. It evaluates them to determine which are the most powerful and most valuable ones. Ferrari already ranked number one of the most powerful global brands in 2013, and again last year. This year, it retains pole position as the world’s strongest brand with a Brand Strength Index (BSI) score of 94.1. Moreover, the Prancing Horse tops the rankings of only 12 brands to be awarded the highest AAA+ rating.
The 2020 study calculated the value of the Ferrari brand at 9.1 billion USD; with year on year growth of 9%, boosted by positive sales and overall brand strength.
However, being a niche, luxury brand, the Maranello company is some way off being the world’s most valuable. Nevertheless, Ferrari‘s high BSI takes into account a wide variety of measures. These include desirability, loyalty, consumer sentiment, visual identity, online presence, and employee satisfaction.
David Haigh CEO of Brand Finance commented: “The embodiment of luxury, Ferrari continues to be admired and desired around the world, and its outstanding brand strength reflects this. It is no wonder that many consumers, who might never own a Ferrari car, want a bag or a watch emblazoned with the Prancing Horse. But it is also crucial that the company management remain at the steering wheel of the brand’s future and maintain its exclusive positioning by monitoring the licensing output closely.”
(Ilona Catani Scarlett)