Leading brand valuation consultancy labels Ferrari as the most powerful brand

Bearing testament to the sentiments of a large number of tifosi's, Brand Finance - a leading brand valuation consultancy - has identified iconic Italian automaker, Ferrari, to be the world's most powerful brand. Ferrari claimed the top spot from five other equally recognisable brands like, Google, Coca-Cola, PwC (PricewaterhouseCoopers) and Hermes. 

The small Maranello-based company, with 2,695 employees (as of 2011), is not in the same league to the other, larger multinational brands when it comes to overall revenue.

Yet its brand rating takes into account other financial metrics, such as net margins, average revenue per customer, advertising/marketing expenditure, brand affection and loyalty.

Ferrari Chairman Luca di Montezemolo commented, "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. Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them."

The announcement of the brand rating comes days after the birthday of Ferrari's founder - Enzo Ferrari. Had Enzo Ferrari been still alive, he would have celebrated his 114th birthday on the 18th of February 2013.