McLaren might have lost out in the 2011 Constructors' Championship, but it has won the award for Best British Luxury Brand.

McLaren Automotive was last night revealed as the British Luxury Brand at the prestigious Walpole Awards in London. The Woking-based company was shortlisted alongside Alexander McQueen, Boodles, Burberry and Mulberry, and emerged triumphant at the ceremony.

The award was presented to McLaren Group executive chairman Ron Dennis by the host for the evening, actor Hugh Bonneville.

Speaking at the event, Dennis said the award was a tribute to the dedication and focus of the entire McLaren Automotive team.

"We set out to build a world-leading automotive business, manufacturing and marketing category leading, high performance vehicles. To be recognised by such esteemed peers as having also built Britain's Best Luxury Brand is both an honour and reaffirmation for our team that we are moving in the right direction.'

The Walpole awards are given to those individuals and companies who exemplify British excellence by their work in the luxury sector, both in Britain and internationally.

Walpole is a non-profit organisation that furthers the interests of the British luxury industry both at home and abroad.