Modigliani: From Artist to Brand, With a Financial Value Nearing €30 Million
Interbrand’s Brand Valuation Study Rejuvenates Heritage of Italian Artist Amedeo Modigliani
Milan, Italy (November 23rd, 2010) The Modigliani Institut and Interbrand, the world’s leading brand consultancy, today unveiled the results of the positioning and valuation study of famed Italian artist Amedeo Modigliani. The value of Amedeo Modigliani’s brand is approximately 28 million Euros.
The Modigliani Institut’s mission is to celebrate Amedeo Modigliani’s life and art. Through an innovative approach bringing together private cultural institutions and businesses, the Institut helps to spread knowledge of the life of the artist internationally.
Presented today at an event in Rome that brought together public authorities and the business and academic communities, the valuation aims to leverage the potential of Modigliani’s name and heritage.
The value of the Modigliani brand at approximately 28 million Euros is based on Interbrand’s widely recognized brand valuation methodology. The brand valuation focused on the three key markets with the most potential for the brand: the U.S., Japan and Brazil. To derive an overall net present value for the Modigliani brand, Interbrand combined quantitative research with financial forecasts that were based on existing agreements and business plans.
“In order to sustain our cultural activities and, most importantly, pursue the creation of a Casa Modigliani in Italy and in other countries, we have developed an innovative marketing project based on the translation of Modigliani’s signature into a brand,” says Christian Parisot, President of the Modigliani Institut. “We are convinced that this process can deliver values and traits which stem from the artist’s creative identity and talent, and that these initiatives can contribute to creating awareness about the life and works of this great Italian painter and sculptor.”
“The Modigliani brand project is a milestone for so many reasons”, said Manfredi Ricca, Managing Director of Interbrand Italy. “On one hand, it shows the extent to which the legacy of Amedeo Modigliani transcends time and cultures, and can live again in completely new dimensions. On the other, it shows how brands can be the key to a sustainable economy of culture – one based on profound respect, not opportunistic exploitation. This is not about logos and t-shirts, but about the loyal translation of an artist’s uniqueness, ultimately generating long-term economic and social value.”
Interbrand’s work also includes a detailed brand proposition that translates Modigliani ‘s expressive spirit. Interbrand also analyzed potential extension opportunities for the brand, filtering out those that were likely to impact the brand negatively.
“Transforming a great artist’s signature into a brand is a long and difficult process,” explains Luciano Renzi, Secretary General of the Modigliani Institut. “Our strategy is to re-interpret the feelings expressed by Modigliani’s masterpieces, and to move beyond the typical merchandising approach, which is simply a representation of an artist’s work. This has been already done with other acclaimed artists by their respective foundations and heirs. Our choice was to combine Modigliani’s signature with top brands and designers, contributing to the success of Italian style worldwide.”
Founded in 1974, Interbrand is recognized for being at the forefront of the dialogue on brands as business assets. Today, Interbrand is amongst the largest brand consultancies and has grown to include 40 offices in 25 countries. The combination of rigorous strategy and analytics with world-class design creativity help its clients to create and manage brand value in all market dynamics. It is widely respected for its annual study, The Best Global Brands, and creating a broader platform for the discussion on brands in the Webby-award winning website brandchannel.com. For more on Interbrand, visit www.interbrand.com.
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