Building a Valuable Brand - Brick by Brick
October 05, 2015
Today sees the annual release of Interbrand’s top 100 Worlds Most Valuable Brands. Each year the brands are ranked on three factors - their financial performance, how the brand influences customer choice and whether this influence can push up the price value of a product or service.
The top ten rankings are littered with the brands we would expect (not that we don’t love them equally) - Google, Coca Cola, Microsoft, GE and of course, Apple for the third year in a row - valued at USD $170.276 billion. But there is one humble brand that we are happy to see has made it into the ranks for the first time ever, in its 80 year life span. Lego is a great example of a legacy brand that has been around for so long, yet continues to reinvent themselves, evolve their experiences and stay true to the brands core values, therefore staying (and rising) in audiences hearts.
Lego are the kings of brand partnering. They use their access to younger audiences to generate a buzz of awareness with hundreds of brands worldwide, for topical events such as movie releases, new car model launches, music releases and more. Somehow the nostalgia for these older generations combined with cult brand following generates a huge amount of shareable interest.
However there is one partnership that Lego broke recently due to a misalignment with their brand values. In 2013 Lego took a huge step to becoming a cleaner more sustainable brand, by partnering with WWF to develop a plan to maximise the sustainability of its materials and become a much cleaner brand. Lego also ended its 50 year relationship with oil brand Shell, after the scrutiny of their drilling in the Antarctic. They are now building their own sustainable material centre in Denmark, which will hire over 100 new employees.
Although they just crept in the the list at number 83, this is a huge milestone for Lego as a brand and we are excited for the humble, family owned creators. As Rebecca Robins of Interbrand states, “"Lego is clearly rethinking its role, and migrating from a toy brand to a fully fledged entertainment brand, while staying true to its DNA -- and employing technology as a powerful means, not as a superfluous end.”