The Danish toy producer Lego has been knocked off its perch by Disney as the most powerful brand in the world, according to the brand valuation and strategy consultancy Brand Finance
Brand Finance contended that Lego’s fall to second was specifically sparked by two controversies in 2015 that tarnished its “wholesome image”.
“It has been fined by German regulators for attempting to prevent retailers from discounting its products,” wrote Brand Finance.
“It was also accused of colluding in censorship for trying to prevent dissident Chinese artist Ai Wei Wei from using Lego in his work. Lego has since reversed its policy of restricting purchases to be used for political ends following widespread condemnation (including from Ai Wei Wei himself).”
L’Oréal came in third on the list behind Disney and Lego.
Brand Finance also showed that Apple was the world’s most valuable brand ahead of Google and Samsung, that four out of the ten fastest growing brands are Chinese, and that Volkswagen’s brand value fell 80 billion kroner due to its emissions scandal.