The Michelin brand’s value has grown some 30% to US$ 7.9 billion in the latest Brand Finance Tyres 10 ranking. According to Brand Finance’s data, the Michelin brand is now worth $7.9 billion. The sharp increase (+30%) means it overtook previous leader Bridgestone, which saw its brand value fall 6% to $7 billion, resulting in a one-place drop from first to second position in the annual Brand Finance tyres top 10 ranking.
As well as being the most valuable brand, Michelin is also the strongest. Its Brand Strength Index (BSI) score was up a sector-leading 6% to 86.9 out of 100. The corresponding brand rating improved a notch to AAA, making Michelin the only tyre brand with a clear triple-A rating. Sustainability and technology initiatives have strengthened the Michelin brand, including a concept for 3D- printed tyre that can be adapted to road conditions and never needs replacing which was unveiled last summer to widespread acclaim. Michelin tyres also performed well in motor sport, winning at the Le Mans 24hr race and being used in Formula E, which is itself becoming a desirable place to showcase technology for leading manufacturers.