It pays to be trusted and consistent. Just ask Rolex and Ferrari
The two brands, easily among the biggest names and earners in luxury, are also two of the three most reputable brands in the world according to a new study from RepTrak. The multi-faceted survey represents one of the first comprehensive attempts to figure out where the world’s most respected companies stand following the unprecedented events of the last year.
In order to whittle its initial list of over 2,000 companies down to the 100 most reputable, the Boston-based data analysis firm polled 68,577 people from across the world’s 15 largest economies. From there, in order to qualify, a company needed to have a global revenue of over $2 billion, had to break a familiarity threshold of 20 percent and a reputation score which factors in products and services, innovation, workplace, governance, citizenship, leadership and financial performance above the median of 67.3. Each of the brands that made the list had at least a “Strong” rating (a score that falls between 70.0 and 79.9), while one walked away with an “Excellent” (80.0 and above).
So, what is the world’s most reputable brand according to the 2021 Global RepTrak 100? None other than Danish toymaker Lego Group, which received a high score of 80.4. Lego was followed closely by Rolex, which notched a 79.6, and Ferrari, which came away with a 78.8. The legendary Swiss watchmaker and Italian sports car specialists were joined in the top 10 by the Bosch Group (78.1), Harley-Davidson (78.1), Canon (77.6), Adidas (77.6), the Walt Disney Company (77.5), Microsoft (77.1) and Sony (77.0).
RepTrak says it talked to consumers from across the age spectrum. Interestingly, only two brands performed strongly with each of the four demographics Gen Z (ages 18-25), Millennials (26-40), Gen X (41-55) and Boomers (56-64) Lego and Rolex. Lego placed seventh with Gen Z, second with Millennials, and first with Gen X and Boomers. Rolex placed ninth, fourth, third and fourth with those demographics. Ferrari, meanwhile, cracked the top 10 with Millennials, Gen X and Boomers, but missed the mark with Gen Z.
Rolex and Ferrari were by far the best performing luxury brands in RepTrak’s study, but they weren’t the only ones to make the cut. Traditional heavyweights like BMW (23rd with a score of 76.1), Rolls-Royce (27th, 76.0), Chanel (33rd, 75.6), Singapore Airlines (38th, 75.1), Georgio Armani (61st, 74.1), LVMH Group (63rd, 74.1), Emirates (69th, 73.7), Daimler (75th, 73.4), Burberry (83rd, 73.3), Prada (84th, 73.3), Hilton (86th, 73.2), Hermes (88th, 73.2) and Ralph Lauren (91st, 73.1) all featured in the Top 100 as well.
These brands represent different corners of the luxury world, but they have one thing in common: sustained excellence. Consumers, it appears, respect both quality and consistency.