Brand Finance, a global independent branded business valuation consultancy has named the French tyre maker, Michelin as the most valuable tyre brand of 2018. The consultancy also revealed that as per its Brand Strength Index (BSI) score, Michelin is also the strongest tyre brand in the world. The French company saw an expansion in its brand value by 30 percent to USD 7.9 billion overtaking its Japanese rival, Bridgestone, whose brand value stands at USD 7.0 billion. This has also given Michelin AAA rating, making it the only tyre manufacturing company to have a triple-A rating.<\/p>\n
Of late Michelin has been focusing on sustainability and technology initiatives and it has helped it to bolster its brand. Among such initiatives was Michelin\u2019s 2017 concept tyre, a 3D-printed tyre that needs no replacement and can adapt to various road conditions. Michelin\u2019s tyres have also performed reasonably well in motorsport securing the winner spot in the Le Mans 24 Hours race. Moreover, Michelin tyres also being used in Formula E.<\/p>\n
According to Alex Haigh, Director, Brand Finance, Michelin\u2019s crucial step to start selling tyres directly to customers via retail outlets and internet has helped the company to collect valuable data and build a brand relationship.<\/p>\n
Major tyre makers are facing intense competition globally that is leading them to adopt new strategies and also explore new and emerging markets. According to the report of Brand Finance, a weak domestic demand has hit the Japanese tyre manufacturers such as Yokohama, Bridgestone and Sumitomo hard. On the other hand, the Chinese tyre companies are giving a tough time to established players in the tyre manufacturing industry. Currently, Maxxis is the only Chinese tyre maker that has managed to feature in the list of 10 most valuable brands.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brand Finance, a global independent branded business valuation consultancy has named the French tyre maker, Michelin as the most valuable tyre brand of 2018. The…<\/p>\n","protected":false},"author":4,"featured_media":811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[4076,432,4077,407,963,4078],"class_list":["post-5604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-brand-finance","tag-chinese-tyres","tag-japanese-tyre-makers","tag-michelin","tag-michelin-tyres","tag-most-valuable-tyre-brand-in-the-world"],"yoast_head":"\r\n