Despite seeing a decrease in it’s brand value, French tyre maker Michelin has defended it’s title as the world’s ‘Most Valuable Tyre Brand’.
Calculated annually by Brand Finance, a leading independent brand valuation consultancy, Michelin’s brand value was deemed to be $7.2 billion, a drop of 9% versus a year earlier.
At the same time, Brand Finance also use a wide range of metrics to calculate the overall strength of a brand, including business performance, investment in marketing and stakeholder equity. Along with their overall revenues, their BSI (Brand Strength Index) score is a crucial driver of overall brand value.
Michelin’s BSI score was an impressive 86.30 out of a possible 100, well ahead of second placed Bridgestone on 78.10.
The French manufacturer wasn’t the only tyre brand to see a drop in it’s overall value, with the likes of Goodyear-Dunlop and Continental also seeing a fall. This is based on a number of factors, including drastic changes in consumer demand in key markets like China, and the increasing popularity of retreading in the truck market.
One of the few manufacturers to buck the trend and actually increase their value were Pirelli, who are marketing themselves as a powerful, premium brand with associations at the very highest levels of motorsport, while also branching out to sponsor a wider range of sporting events including football and sailing to name just two examples.
You can view the full Michelin 2-wheel tyre range here.
