Luxury labels dominate Italy’s ‘Most Valuable’ brands
8 Mar 2018
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 ranking.
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