NEW YORK-Michelin has overtaken Goodyear as the world's most valuable tire brand, according to Financial World magazine's fifth annual ranking of the world's most valuable brand names.
Michelin, riding a 35-percent increase in value for the year, was appraised at $5.35 billion for 1995. The Goodyear brand finished second with a value of $5.31 billion.
By way of comparison, Philip Morris Cos.' Marlboro brand led the New York-based magazine's overall list with a value of $44.6 billion.
The other tire brands valued by the magazine finished as follows: Bridgestone, with a value of $4.49 billion; Firestone, $2.50 billion; Pirelli, $490 million; Cooper, $374 million; and Continental, $280 million.
Pirelli, which recently completed a strong advertising push featuring Olympic gold medal winner Carl Lewis, boosted its brand value 30 percent over the past year, accord ing to the magazine.
Continental improved its brand value 18 percent but still appeared on the magazine's list of most-underutilized brands.
None of the tire brands evaluated made the magazine's list of best-managed brands.
In order to determine brand value, Financial World said it:
First determined brand sales and profitability;
Subtracted the profits ``a generic product'' in each industry would earn;
Applied an average corporate tax rate; and
Multiplied the resulting product by a brand-strength multiple that was based on a number of factors, including brand ``leadership, stability, market, internationality, trend, support and protection.''