Gucci retains the top position as Italy’s most valuable brand for the third year.
Despite a turbulent year, and the threat of a lasting economic recession, the Kantar BrandZ Most Valuable Italian Brands ranking has risen by 11%, to reach a total brand value of $114.6 billion.
Gucci retains the top position as Italy’s most valuable brand for the third year, with a brand value of $33.8 billion. Italian luxury brands continue to dominate the ranking, accounting for 42% of the total brand value of the Top 30. The luxury sector has been relatively well insulated against the effects of pandemic; Italian luxury brands tend to generate most of their sales from outside of Italy, and demand has remained strong in the US and much of Asia throughout the past year. This is not a category without challenges, however, and many heritage brands are working hard to make connections with the next generation of high-end consumers – with mixed results.
17 brands increased their value, by an average of 24%, including the fastest risers: Bottega Veneta (No.12, $2.2 billion, +54%), Aperol (No.23, $1.1 billion, +54%), Fendi (No.8, $3.2 billion, +48%), Enel (No.2, $13.6 billion, +41%) and Ferrari (No.5, $6.8 billion, +35%).
The most valuable brands in Italy – and the fastest-growing smaller brands – clearly demonstrate the benefits of being meaningful, different and salient in consumers’ minds. Those that stand out against others in their category in ways that are relevant and important to people have posted significantly stronger performances.
Bottega Veneta and Fendi both benefited from steady demand for luxury goods, especially in the US and Asia. But there were other, brand-specic factors in play. For Bottega Veneta, much of its rise in brand value can be attributed to a highly disruptive social media strategy. It deleted its corporate social media accounts and now relies on its fans and ambassadors to spread the word – a very different approach to other luxury brands that has proved appealing to a younger target audience.
One of the fastest-growing brands in the Italian Top 30 this year is the luxury goods producer Fendi.
The brand’s focus on strong corporate citizenship and evolving its offering and business practises in line with changing consumer views on sustainability has helped it achieve strong double-digit growth in brand value, despite the many trading challenges that 2020 presented. Fendi is a growing luxury fashion house whose specialities include ready-to-wear clothing, leather bags and accessories, shoes, fragrances, eye wear, and timepieces.
In recent years it has focused intensely on efforts to develop and promote a clear and strong sustainability strategy involving three key pillars: the environment, the supply chain and production, and the community. The business created a new factory in the process of carrying out a complete and transparent revamp designed to make Fendi more sustainable, from the sourcing of raw materials to the launch of a collection. Two of its most iconic designs, the Peekaboo and Baguette handbags, have been given a sustainability overhaul, made from recycled materials and launched as part of Fendi’s FF Green Interlace capsule collection in late 2020
Find out how strong brand equity, agility, and a rapid response have offered businesses insulation from the crisis in Kantar’s new report.
Top 10 Most Valuable Italian Brands 2021:
1. Gucci (Luxury);
2. Enel (Utilities);
3. Tim (Telecom Providers);
4. Kinder (food);
5. Ferrari (Luxury Cars);
6. Prada (Luxury);
7. Nutella (Food);
8. Fendi (Luxury);
9. Ferrero Rocher (food);
10. Eni (energy);
Fastest Risers of 2021:
1. Bottega Veneta (category: luxury);
2. Aperol (category: alcohol)
3. Fendi (category: luxury);
4. Enel (category: utilities);
5. Ferrari (category: luxury cars);