LEGO is the world’s most powerful brand, says study
Lego has ousted Ferrari to emerge top of Brand Finance’s annual study into the world's most powerful brands, with its nostalgic humility earning it the coveted crown.
Lego has ousted Ferrari to emerge top of Brand Finance’s annual study into the world’s most powerful brands.
Forcing the fierce Italian sports brand into ninth place, LEGO’s nostalgic humility earned it the top spot, suggests the study. PWC and Red Bull landed in second and third place respectively.
A statement from Brand Finance suggests: “In a tech-saturated world, parents approve of the back-to-basics creativity it encourages and have a lingering nostalgia for the brand long after their own childhoods.
“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 CEO David Haigh added: “Ferrari is still in a strong position and its brand value has actually increased 18 per cent 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.”
