Burberry has leapt from sixth place to second, leapfrogging international bank HSBC, global whisky brand Johnnie Walker and world famous TV channels BBC and Sky, according to the Brand Finance Global 500 report
The fashion company recently launched a high-profile advertising campaign featuring 12-year-old Romeo Beckham, son of footballer David and fashion designer Victoria.
The company has strong links with Yorkshire, employing more than 700 people in the region, with the vast majority at its factory in Castleford where it manufactures the iconic trenchcoat. The company also weaves gabardine fabric and heritage check linings at the Burberry Mill in Keighley.
Burberry was named the world’s seventh most powerful brand behind toymaker Lego, accountancy firm PWC, soft drink Red Bull, management consultants McKinsey, Unilever and L’Oreal Cosmetics. It beat Rolex watches, car maker Ferrari and sportswear designer Nike.
Lego has replaced Ferrari as the world’s most powerful brand, boosted by the success of The Lego Movie.
The Danish toymaker scored highly on familiarity, loyalty, promotion, staff satisfaction and corporate reputation.
Brand Finance said that in a tech-saturated world, parents approve of the back-to-basics creativity it encourages and have a lingering nostalgia for the brand long after their own childhoods.