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Austrian company is world's third best brand

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13:38 CET+01:00
Brand Finance, one of the world's leading brand valuation and strategy consultancies, has released its annual brand power report, which shows that Red Bull holds its position as the third strongest brand in the world, behind new leader Lego and with PWC in second place.

A brand's power is measured in terms such as familiarity, loyalty, promotion, staff satisfaction and corporate reputation.  This year's winner, Danish toy brand Lego, supplants last year's winner Ferrari, which tumbled to ninth position in the list of the world's most powerful brands.

Lego overtook Ferrari on name recognition, especially with the release of the Lego movie, while Ferrari's star began to wane with several poor seasons in the F1 title stakes in motorsport.

Austrian brand Red Bull, a global beverages manufacturer with strong support in adventure sports, has an estimated brand value of $7.4 billion.

By way of comparison, the world's most valuable brand is Apple, with an estimated brand value of $128 billion, and a brand growth of 23 percent.

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