Brand Finance added that Mr. Montezemolo “kept a strict cap on production to maintain the exclusivity of the (Ferrari) brand. Since his departure, Chairman Sergio Marchionne has suggested that this policy will be relaxed to boost revenues.
“Many Ferrari owners and aspiring owners are extremely brand-conscious, making the loss of the ‘world's most powerful brand' accolade — which Ferrari has held for several years — a particularly heavy blow.”
Brand Finance CEO David Haigh said Ferrari “is still in a strong position and its brand value has actually increased 18 percent this year to $4.7 billion. The new strategy to capitalize on the brand will certainly drive short term value but over-exploitation risks lasting damage.”
Bridgestone Corp. was the first tire company to show up on the Brand Finance Global 500 report, coming in at No. 243. Group Michelin was at 271 and Continental A.G. at 405. The list also is sprinkled with a number of auto makers and automotive-related companies.
In other highlights from the Brand Strength Index:
• Apple capped a record-breaking month with the highest brand value in history — $128.3 billion.
• Twitter is the fastest growing brand, with its brand value nearly tripling 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 percent and 146 percent respectively, according to Brand Finance.
Mr. Haigh said the value of the Apple brand “is huge not just in its own terms but also as a proportion of Apple's record-breaking corporate valuation. It goes to show how valuable brands are as business assets and how important it is to manage them well.”
Brand values for hundreds of the world's top brands from all industries are on Brand Finance's website, where the full Global 500 table can be found along with infographics, further insight and analysis. On Twitter, it can be found by clicking here.