Ferrari Is World’s Strongest Luxury Brand With AAA+ Rating
Ferrari has been named world’s strongest luxury brand with AAA+ rating by Brand Finance. The rating was based on Ferrari’s brand value and the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.
In a statement issued by Brand Finance, the organisation stated that in compliance with ISO 20671, its assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in more than 35 countries and across nearly 30 sectors.
Ferrari (brand value down 13% to US$8 billion) is one of the world’s most recognizable brands and is the strongest luxury brand in the world with a BSI of 90.9/100 and an elite AAA+ rating. A significant attribute of the Ferrari brand is its iconic internal combustion engines. The forthcoming migration to electric vehicles therefore represents both a challenge and opportunity for the brand as it seeks to build its first fully electric vehicle by 2025 and predicts electric vehicles to account for 40% of its product offering by 2030.