- Ferrari has been ranked as the strongest brand in the world according to the 2020 report by Brand Finance Global 500, followed by Disney and WeChat.
For the second year in a row Ferrari has been ranked as the strongest brand in the world according to the 2020 report by Brand Finance Global 500.
A 94.1 out of 100 brand strength index score awards Ferrari to the top spot on the list. Awarded the highest AAA+ ranking is ahead of 11 other labels. However, it has dropped slightly from its score of 94.8 in 2019.
Ferrari is the only automotive brand to receive an AAA+ rating, too. It defeated the second-placed Disney (93.9), which spent more than seven times Ferrari’s total brand value on Fox-owned movie and TV assets.
While, Coca Cola came in sixth, with a BSI rating score of 90.9.
Ferrari plans to cut licensing agreements by 50 percent in the name of preserving exclusivity and remove 30 percent of its product categories. Could this mean the cheap aftershave Ferrari is a thing of the past?
Ferrari’s brand value rose to nearly £ 7bn last year: a nine percent year-on-year rise. As a result, Ferrari ranks 206th in the top 500 most popular brands worldwide. In 2019, it is climbing from the 220th position.
The popularity is due partly to a new offensive pattern. The brand introduced five new cars last year, including the SF90, a new supercar designed to deliver hybrid-hypercar performance, and the Roma, a larger GT.
Ferrari also reached a contract with the Giorgio Armani Group for the manufacture of its garments as regards other areas of its business.
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 remains at the steering wheel of the brand’s future and maintain its exclusive positioning by monitoring the licensing output closely.,” said David Haigh, Brand Finance CEO.
Disney is making a comeback after struggling to become the world’s top 10 strongest brands last year, taking second place with a 93.9 BSI and AAA+ ranking. Disney is no longer just children’s films or holiday destinations-the company has strengthened its role as a leader in the media industry with the acquisition of 21st Century Fox.
Disney has also focused on offering customers direct experience. With the recent launch of Disney+, which aims to take on Netflix and other new competitors such as HBO Max, the company was primed for success.
You can find the whole report here.