The prancing horse has made it to the top of Brand Finance’s annual list of the world’s most powerful brands beating biggies like Google, Coca-Cola, PWC and Hermes being amongst the top 5 on the chart. It does look surprising when you consider enterprises such as Google or Coca Cola which have a much larger global footprint, business capital and earnings. But size wasn’t the criteria- rather financial guidelines such as net margins, average revenue per customer, advertising and marketing spend alongwith qualitative parameters like brand affection and loyalty were also considered; And Ferrari outscored them all.
Ever seen a Ferrari ad or a commercial? They never spend a penny on advertising. Its simply the exotic aura of the brand that scores on the loyalty quotient with its customers, connoisseurs and followers. Well, thats brand value!
Ferrari Chairman Luca di Montezemolo said ““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. Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them.”
During the first three quarters of 2012, Ferrari recorded an increase of 7.6 per cent in net profits amounting to 152.4 million Euros taking its revenue up 10% to 1.76 billion Euros. It sold a record 5,267 cars and had a net cash position of 959 million Euros (where’s the damn calculator?).
Ferrari’s 900 bhp hypercar– the F150 is just weeks away from launch and riding the brand equity tidal wave, the launch is going to be even more special.