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Which brand is the most valuable in the world? You’re likely to say Apple and rightly so as they have just retained The Most Valuable Brand title with the release of the iPhone 6 and the hype over the iWatch contributing to its success. However, if you had to name the most powerful brand would you have guessed it to be Lego?
Brand valuation and strategy consultancy, Brand Finance, have released their annual study demonstrating the most powerful brands in 2015. The Most Valuable Brand assesses the brand and financial value in contrast to The Most Powerful Brand that evaluates the intrinsic variables within an organisation to create a "Brand Strength Index Score".
Most notably Lego has taken the top spot from Ferrari which was last year's top choice and has now slipped to ninth place. If you have children you might not be too surprised to find out that the toy brand was rated highly in the familiarity, loyalty, promotion, staff satisfaction and corporate reputation criteria's. This being said in a tech-saturated, web 2.0 technology world we live in it’s no surprise that parents approve of the cross-generational brand. This coupled with the brands Lego Movie release last year has propelled and cemented Lego’s strong and powerful brand.
Robert Haigh, branding expert at Brand Finance said “A lot of that has been down to the success of The Lego Movie but Lego’s underlying strength is that it appeals to both sexes, and all ages. Kids have an affection for playing with it and parents see it with a sense of nostalgia.”
So, Apple and Lego reap the benefits and media headlines with their coveted labels. Interestingly both represent polar opposite industries with one being innovative and tech orientated and the other more traditional and sentimental. With the tech industry booming at the moment, it’s nice to see a well-loved toy brand winning such an esteemed title.