Luxury labels dominate Italy’s ‘Most Valuable’ brands
Gucci has topped the first ever BrandZ Top 30 ‘Most Valuable’ Italian
brands list, in a ranking from WPP and Kantar Millward Brown that features
seven luxury brands.
The research which tracks and addresses the changing environment for
brands in Italy, found that the seven leading luxury brands headed up by
Gucci that topped the ranking, contributed 28.9 billion dollars to the
total brand value of the ranking. The concentration of premium brands is in
contrast with Spain’s focus on affordable fashion and Germany’s
concentration on technology and engineering.
Massimo Costa, WPP Italy country manager, said: “Italy’s skill at
developing premium luxury brands lends the ranking a distinctive feel, but
the country has many more strong names in sectors that are less celebrated,
from Oil and Gas to Financial Services to Cruise operators.”
Gucci tops the ranking with a brand value of 16.3 billion dollars,
followed by telecom provider brand TIM at 9.3 billion dollars and energy
company Enel in third place at 7.4 billion dollars.
There were two other luxury fashion brands featured within the top 10,
Prada in fifth spot with a brand value of 4 billion dollars, closely
followed by Armani in tenth place with a brand value of 2.4 billion
dollars. While Bottega Veneta, Bulgari, Fendi and Ferragamo made the Top 30
Federico Capeci, chief digital officer and chief executive officer
Italy, Kantar, Insights Division, added: “While Italian brands are some of
the best in the world at communicating their message to consumers, there is
an area in which they may improve: they are still not perceived as
Innovative and Creative.
“To build stronger brands and generate value and growth, Innovation is
an important driver. Game changers are shaking things up and always coming
up with new ways to promote their brands’ experiences.”
Other key highlights from the study showed that Italian brands are
amongst the most ‘Purposeful in Europe’ and even globally, significantly
outperforming brands in Spain and the UK. For Purpose, Italy is ranked 4th
– outpaced only by the BrandZ Top 30 Global, USA and Germany rankings.
The study also notes the power of ‘Brand Italy’ as being highly regarded
around the world, particularly when linked to fashion, food, and wine, it
states that Italian brands that want to leverage this reputation will need
to think not just about how to promote their Italian heritage, but also how
to establish their authenticity.
Image: Gucci by Dan Lecca © Catwalkpictures.com