Lego has overtaken Ferrari, last year’s most powerful brand. Ferrari remains a very strong brand but its power is slowly diminishing. It has now gone several years without an F1 title and last season struggled even to mount a challenge. Brand Finance CEO David Haigh comments, “Ferrari is still in a strong position and its brand value has actually increased 18% this year to $4.7 billion. The new strategy to capitalise on the brand will certainly drive short term value but over-exploitation risks lasting damage.”
PWC and Red Bull landed in second and third place respectively. “In a tech-saturated world, parents approve of the back-to-basics creativity as it encourages and have a lingering nostalgia for the brand long after their own childhoods, a statement from the brand reads.
“The LEGO Movie perfectly captured this cross-generational appeal. It was a critical and commercial success, taking nearly $500m since its release a year ago. It has helped propel LEGO from a well-loved, strong brand to the World’s most powerful.”
In order to tower above the rest and win the coveted “most powerful” crown, brands must score highly with familiarity, loyalty, promotion, staff satisfaction and corporate reputation criteria.
Brand Finance revealed that Twitter is the fastest growing brand; "it has almost tripled its brand value in a year, increasing from $1.5 billion in early 2014 to $4.4 billion now. Fellow tech giants Baidu and Facebook have also grown strongly, by 161% and 146% respectively. The three appear to be more effectively managing the transition to mobile advertising than other tech players such as Google, boosting expectations of the financial potential of their brands".
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