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SALT LAKE CITY — Lego has long been a favorite toy, but the company’s recent growth has spurred it to new heights.
Lego was named the “world’s most powerful brand” for 2015 by global consultancy Brand Finance in its annual ranking, pushing the toy company past last year’s leading brand, Ferrari. The rankings are determined on factors like familiarity, loyalty, promotion, staff satisfaction and corporate reputation, according to Brand Finance.
The report attributed Lego’s strong performance during the past year to the popularity of the “Lego Movie.” Partnerships with brands like “Star Wars” were also extremely successful, according to researchers.
“Lego’s appeal spans generations; as well as the creative freedom it gives children, the brand appeals to the nostalgia of adults,” the report reads. “It generally avoids gendered marketing, by appealing to boys and girls equally Lego maximizes the size of its target demographic.”
The report notes that Lego has come a long ways from the early 2000s, when the company was close to bankruptcy.
Ferrari dropped to 9th place in the rankings.
The world’s most powerful brands, according to Brand Finance:
- Lego
- PWC
- Red Bull
- Unilever
- McKinsey & Company
- Burberry
- Rolex
- L’Oreal
- Coca-Cola
- Ferrari
- Nike
- Walt Disney Pictures
