Brand Finance Europe 500 2024 ranking reveals the 500 most valuable European brands, with insights on European perceptions of brands’ sustainability
- European respondents are 25% less likely to agree that a brand is committed to environmental sustainability than non-European respondents
- Switzerland, the Netherlands, Denmark, and Norway are the most sceptical European countries
- Rolex becomes Europe’s strongest brand, overtaking Ferrari and Swisscom
- Chanel, Dior, and Porsche enter top 10 strongest European brands list
- German brands account for more than a quarter of European brands’ accumulative brand value, followed by France and the UK
European consumers are significantly more discerning about a brand’s commitment to sustainability than consumers in other regions, according to new research from Brand Finance, the world’s leading brand valuation consultancy.
Brand Finance’s latest findings from the Global Brand Equity Monitor, which surveyed over 150,000 respondents across 16 European and 24 non-European markets, reveal that European respondents are 25% less likely to agree that a brand is committed to environmental sustainability, 26% less likely to agree on social sustainability, and 22% less likely to agree on governance compared to non-European respondents. Further analysis shows significant differences within Europe itself. Swiss consumers are the most sceptical, with 23% disagreeing that brands are committed to environmental sustainability, followed by respondents in the Netherlands (21%), Denmark (20%), and Norway (20%).
Rob Haigh, Strategy & Sustainability Director, Brand Finance, commented:
“Brand Finance’s research consistently shows that perceptions of corporate brands vary significantly across regions, with sustainability being a key area where European consumers set a higher standard. Sustainability has been a demand driver in Europe for longer than anywhere else, consumer awareness of a range of sustainability issues is high, and Europe continues to lead in sustainability regulations, particularly with the EU’s Corporate Sustainability Reporting Directive (CSRD). Sustainability claims must always be genuine and supported by real practices, but this is particularly true in Europe, where any real or perceived greenwashing is likely to be more rapidly exposed.”
In the latest Brand Finance Europe 500 ranking, Switzerland’s Rolex is now Europe’s strongest brand with a Brand Strength Index (BSI) score of 90.2 out of 100 and an AAA+ rating. Rolex’s brand strength is underpinned by its strong performance for familiarity and reputation – the brand achieves a perfect score of 10 for both metrics. Like several European luxury brands, Rolex also recorded brand value growth in 2024, up 25% to EUR12.9 billion.
Italy’s Ferrari (brand value up 38% to EUR9.9 billion) is now Europe’s second strongest brand with a BSI of 90.0 out of 100. France’s Chanel has made a significant leap, with its brand value increasing 30% to EUR24.3 billion and its BSI ranking catapulting from 48th to fourth place with an AAA rating. Fellow French brand Dior and Germany’s Porsche have also joined the ranks of Europe’s top ten strongest brands, securing eighth and ninth positions, respectively.
Richard Haigh, Managing Director, Brand Finance, commented:
“Brand Finance data reveals that nearly 80% of European nations featured in the Europe 500 2024 have seen brand value growth, collectively reaching EUR2.2 trillion. Looking forward, against the backdrop of a vibrant summer of sport and culture across the continent, European brands are poised to benefit greatly from heightened global awareness and consumer spending. This optimistic outlook marks a key moment for several sectors, especially luxury and premium, underscored by the rising brand values of icons like Porsche (+14%) and Hermès (+14%), alongside the improved brand strengths of Rolex (AAA+) and Chanel (AAA).”
Deutsche Telekom has retained its title as Europe’s most valuable brand for the second year in a row, with its brand value rising 13% to EUR68.4 billion. Close behind, fellow German brand Mercedes-Benz (brand value EUR55.5 billion) holds the second position. Meanwhile, UK semiconductor brand Arm saw its brand value increase to EUR1.1 billion – nearly five times its 2023 value – making it the fastest-growing European brand, driven by the global AI boom and more recently, generative AI.
Of all European countries featured in this year’s ranking, Germany has the highest aggregate brand value at more than EUR596.1 billion, accounting for almost 27% of the ranking’s total brand value. France, with an aggregate brand value of EUR471.8 billion, is the second major contributor of brand value, followed by the UK at EUR373.1 billion.
ENDS
FAQs
1. Why are European consumers more skeptical about brands’ sustainability commitments compared to non-European consumers?
European consumers are generally more discerning about sustainability due to the region’s long-standing focus on environmental, social, and governance (ESG) issues. Europe has led the charge in sustainability regulations, with initiatives like the EU’s Corporate Sustainability Reporting Directive (CSRD), pushing brands to be more transparent. The high awareness of sustainability issues, combined with a strong regulatory environment, makes European consumers more critical of greenwashing or unsubstantiated sustainability claims.
2. What factors contributed to Rolex overtaking Ferrari as Europe’s strongest brand?
Rolex’s ascent to become Europe’s strongest brand is largely due to its high performance in key metrics like familiarity and reputation, where it earned perfect scores. This brand strength, combined with 25% growth in brand value, highlights its continued dominance in the luxury segment. Rolex’s reputation for quality, exclusivity, and strong heritage resonates well with both European and global consumers, particularly in the luxury market, which has seen significant growth.
3. Which sectors or countries are driving the growth of European brands in 2024?
German brands, particularly in the automotive and telecommunications sectors, are the main drivers of brand value growth in Europe, with Germany accounting for 27% of the total value. Deutsche Telekom and Mercedes-Benz continue to lead in brand value, while luxury brands like Porsche, Rolex, Chanel, and Dior are also key contributors. Additionally, the UK’s Arm is the fastest-growing brand, propelled by the global AI boom, marking a significant shift in the technology sector’s influence on brand value.
The convergence of tech and brands 