Apple may be one of the foremost enablers of the tech lifestyle, but it’s hard to argue with a V12-engined sports car in a discussion of power. The analysts at Brand Finance probably weren’t comparing iPhones to F12berlinettas when they compiled their list of the world’s most powerful brands, but Ferrari did edge out Apple for the win.
Ferrari was named world’s most powerful brand out of the Global 500 list of companies, despite being much smaller, and being worth much less, than tech giants Apple and Samsung, which came in second and third place, respectively.
Brand Finance’s metric involves more than just revenue. Analysts also considered net margins, average revenue per customer, marketing, and brand loyalty.
“With revenues in the tens of billions, Apple and Samsung are slugging it out for global brand supremacy and are vying with each other to create strong ‘customer love’ for their brands. However, there are other brands in the Global 500 that though they may never challenge the brand value giants, are nonetheless extremely powerful and well-loved,” Brand Finance CEO David Haigh said.
Anyone who has seen the litany of products, from sunglasses to headphones, that bear Ferrari’s “Prancing Horse” logo can appreciate the brand’s resonance outside the automotive realm.
“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. This achievement proves that even in very tough economic times, Italy can still offer the world businesses of excellence,” Ferrari chairman Luca di Montezemolo said.
Apple did win the brand value contest, with a valuation of $87 billion, beating Samsung’s rating of $58 billion.