TOP 100 ITALIAN BRANDS

ITALBRAND 2011TOP 100ITALIAN BRANDS ItalBrand 2011 TOP Italian Brands 1

About the ItalBrandIn every country the different brands have become popular in different ways. And no matter how wellglobal brands known in this country, national brands have the greatest impact on consumers. Andtoday these are the brands that becomes a major and very valuable assets, because a strong brand,regardless of its scale allows the company to retain or to gain significant market share, and alsoprovides an opportunity to actively develop and promote their products in foreign markets.Also the business are increasingly confronted with a situation where the brand has become one of themost expensive assets in the company's value, even compared with manufacturing facilities. And insuch a situation, the cost of advertising is paid the most attention in mergers and acquisitions, as wellas in public offerings of shares on stock markets or placing other types of securities in order to attractinvestment. And it is here necessary to solve the puzzle, when the company realizes the full value oftheir brand, but can not express it in concrete figures.After several researches made, the optimal solution was found, and since early 2010, the agencyMPP Consulting has established long-term project of evaluation of national brands and in 2011created the rating of the most expensive brands of Italy.The main task of rating ItalBrand 2011 was to determine the 100 most expensive Italian brands, aswell as their current real market value, based on the financial performance of companies using suchbrands (trademarks), as well as the positions of each company in the market and prospects fordevelopment both companies and their brands.It is worth noting that the ranking only includes brands created in Italy or for Italian goods (services),although how much later they became known to the domestic or world markets. That geographicalorigin of brands from the Italy was the main criterion for selection of brands (trademarks), assessed inratings.* All rights to brands and trademarks mentioned or referred to in the ranting belong to their respective owners. ItalBrand 2011 TOP Italian Brands 2

MethodologyThe methodology of the brand evaluation based on the evaluation of activity of companies brandowners, and also takes into account several factors showing the market conditions that influence thebrands, possible threats and perspectives for industries development.This methodology is based on analysis of factors influencing the market value of the brand: thecompany's position on market, consumer value of brand, as well as on some factors like the actualtrends for the company and its brand.Brand value calculation formula:V Fc * (Iq * Gq * Tq * Cq) * UidV – brand valueFc – composite financial indexIq – investments indexGq – geographical indexTq – technique indexCq - competitive indexUid – unique IDIt is worth noting that the brand value includes only the cost of the brand (name), excluding productionfacilities, infrastructure, patents, inventions and other tangible or intellectual property.* Value of Brands in rating indicated in millions ItalBrand 2011 TOP Italian Brands 3

TOP 1001 - 20BrandValue, mln. Logo1Ferrari5 520Automotive2Gucci4 615Clothing & Fashion3Prada4 439Clothing & Fashion4Giorgio Armani4 012Clothing & Fashion5Martini3 007Alcohol6Dolce & Gabbana2 587Clothing & Fashion7Bulgari2 241Clothing & Fashion8Barilla1 883Foods9Chicco1 742Clothing & Fashion10Benetton1 258Clothing & Fashion11Generali1 237Insurance12Intesa Sanpaolo1 148Financial services13Diesel1 082Clothing & Fashion14Pirelli1 023Chemistry15Lamborghini1 001Automotive16UniCredit950Financial hold equipment19Versace852Clothing & Fashion20Maserati842Automotive ItalBrand 2011 TOP Italian Brands Industry 4

TOP 100Brand21 - 40Value, mln. LogoIndustry21S.Pellegrino818Drinks22Alfa Romeo806Automotive23Nastro ehold alentino586Clothing & ation34Lactis509Milk35San Benedetto505Drinks36Parmalat499Milk37Salvatore Ferragamo497Clothing & Fashion38Illy488Coffee39Telecom Italia477Telecommunication40De' Longhi461Household equipment ItalBrand 2011 TOP Italian Brands 5

TOP 10041 - 60BrandValue, mln. 6Clothing & Fashion44Moschino417Clothing & Fashion45Moretti412Beer46Ariston404Household equipment47Carnini400Foods48Lotto398Clothing & Fashion49Fendi393Clothing & Fashion50Agip383Oil & Fuels51Miu Miu374Clothing & i354Clothing & Fashion55Mandarina Duck321Clothing & Fashion56Campari315Alcohol57Diadora311Clothing & Juventus292Sport ItalBrand 2011 TOP Italian Brands Industry 6

TOP 100Brand61 - 80Value, mln. LogoIndustry61Mediobanca286Financial services62Gianfranco Ferré271Clothing & Fashion63Candy240Household equipment64Cerruti 1881236Clothing & Fashion65Motta227Foods66Roberto Cavalli226Clothing & Fashion67Divella221Foods68Acqua Panna208Drinks69Tic 202Foods72Luxardo198Alcohol73Cascina Equipment76Centrale Latte Roma188Milk77Rummo185Foods78Ermenegildo Zegna184Clothing & Fashion79Massimo Zanetti174Coffee80Autogrill167HoReCa ItalBrand 2011 TOP Italian Brands 7

TOP 10081 - 100BrandValue, mln. ega Veneta150Clothing & othing & Fashion87Kappa139Clothing & Fashion88Pavesi138Foods89Jacuzzi133Household t92Blumarine130Clothing & Fashion93Inter129Sport94Pupa126Cosmetics95Mulino Bianco124Foods96Geox122Clothing & Clothing & Fashion100Locatelli115Milk ItalBrand 2011 TOP Italian Brands Industry 8

ConclusionsThe rating ItalBrand 2011 is the 5th rating of the project TOP National Brands in 2011.The issue of defining the most expensive national brands is not new, and consist not only in thecomplexity of the assessment, but in the presence of a single methodology that would unify theapproach to this process regardless of the regional characteristics of each countries.That is why our agency primarily goal was to create a common brand evaluation methodology thatcould be used to determine the real market value of any brand in any market.Process of developing a methodology was started in 2006 and only four years later she was finallyworked out in practice and has shown its real effectiveness. Thus, the use of this rating method ofbrand evaluation most accurately reflects options, forming the current market value of each brand,and allows us to create the rating of the most expensive national brands of any country.We hope that this rating, as well as an evaluation technique will be in demand by companies andinvestors, and help more accurately and quickly determine the current real market value of eachbrand.MPP ConsultingKiev, Ukraine consulting.com.ua ItalBrand 2011 TOP Italian Brands 9

13 Diesel 1 082 Clothing & Fashion 12 Intesa Sanpaolo 1 148 Financial services 11 Generali 1 237 Insurance 10 Benetton 1 258 Clothing & Fashion 9 Chicco 1 742 Clothing & Fashion 8 Barilla 1 883 Foods 7 Bulgari 2 241 Clothing & Fashion 6 Dolce & Gabbana 2 587 Clothing & Fashion 5 Martini 3 007 Alcohol 4 Gio