Michelin Named 'World's Most Valuable Tire Brand'

Michelin Named ‘World’s Most Valuable Tire Brand’

Michelin has become the world’s most valuable tire brand following 30% brand value growth that generated $7.9 billion over the last year, according to the latest Brand Finance report.

Michelin has become the world’s most valuable tire brand following 30% brand value growth that generated $7.9 billion over the last year, according to the latest Brand Finance report.

It overtook Bridgestone (down 6% to $7.0 billion), which slipped from first to second place in the annual Brand Finance Tyres 10 ranking.

Brand Finance also said  Michelin also has the strongest brand with a Brand Strength Index (BSI) score of 86.9 out of 100. According to the business valuation consulting company, sustainability and technology initiatives have strengthened the Michelin brand, including a concept for a 3-D-printed tire that can be adapted to road conditions and never needs replacing.

Alex Haigh, Director of Brand Finance, commented:

“A strong brand is about more than marketing,” said Alex Haigh, director of brand finance.  “Michelin has started direct sales of tires to customers through retail outlets and the internet, a move that helps build a direct relationship with consumers, and allows the company to collect valuable data. It is also widening its sub-brand portfolio, allowing it to sell price-competitive tires and premium ones without cannibalizing market share.”

Below are the 2018 rankings for the most valuable tire brands.

  1. Michelin
  2. Bridgestone
  3. Continental
  4. Goodyear
  5. Dunlop
  6. Hankook
  7. Pirelli
  8. Maxxis
  9. Yokohama
  10. Sumitomo

To read the full report, click here.

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