|picture courtesy Scuderia Ferrari|
Ferrari took the number one spot of the top five most powerful brands in 2013 ahead of the likes of Google, Coca-Cola, PWC and Hermes on a list that includes the 500 most famous companies in the world. Executives at Brand Finance explain, "Because of its size, the Maranello company cannot compete with the large multinational brands in terms of overall revenues. However, its brand rating takes into account other financial metrics, such as net margins, average revenue per customer, advertising and marketing spend, as well as qualitative parameters, such as brand affection and loyalty."
"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 probes that even in very tough economic times, Italy can still offer the world businesses of excellence, "adds Ferrari boss Luca di Montezemolo. "Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them."