A new report by brand valuation firm Brand Finance named Ferrari the ‘Most Powerful Brand’. Competition included giants such as Google and Apple.

Brand Finance CEO David Haigh explains: “Brand is one of many intangible assets which drive profitable growth. Technology, contractual, human capital and customer intangibles as well as general goodwill all drive overall corporate value. With revenues in the tens of billions, Apple and Samsung are slugging it out for global brand supremacy and are vying with each other to create strong ‘customer love’ for their brands. However, there are other brands in the Global 500 that though they may never challenge the brand value giants, are nonetheless extremely powerful and well-loved.”

Ferrari Chairman Luca di Montezemolo warmly acknowledged the honor: “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.”

Ferrari