18 February 2013
Ferrari tops 'most powerful brand' list
Ferrari has fought off far bigger companies to be acknowledged as the globe's most powerful brand.
Ferrari is officially the world's most powerful brand, according to the annual list compiled by leading brand valuation experts, Brand Finance.
The Maranello concern took the number one spot among the top five most powerful brands in 2013, putting itself ahead of the likes of Google, Coca-Cola, PwC and Hermes on a list that included the 500 most famous companies in the world.
Because of its size, the Italian company cannot compete with the large multinational brands in terms of overall revenues, but its brand rating takes into account other financial metrics, such as net margins, average revenue per customer, and advertising and marketing spend, as well as qualitative parameters, such as brand affection and loyalty.
“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, [and] this achievement proves that, even in very tough economic times, Italy can still offer the world businesses of excellence,” Ferrari chairman Luca di Montezemolo commented, “Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them.”
Ferrari's motorsport division will be back in action this week, as one of F1's hottest commodities, Fernando Alonso, makes his return to the cockpit after missing the four-day test at Jerez earlier this month. The Spaniard will get his first taste of the new F138 over the first three days of running at Barcelona's Circuit de Catalunya, before handing the reins back to Felipe Massa, who set the fastest time of the week in southern Spain.
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