LONDON — Michelin is the world's most valuable tire brand, according to a ranking by Brand Finance Group, a London-based business valuation and strategy consultancy.
Based on factors such as its research and development prowess and motorsports achievements, Michelin supplanted Bridgestone as the leading tire brand, with a global brand value of $7.9 billion.
Michelin also is rated by Brand Finance as the "strongest" brand — a separate rating based on a brand's performance on intangible measures, relative to its competitors — and is the only tire brand with Brand Finance's "AAA+" brand strength rating.
Brand Finance defines brand value as the value of the trademark and associated marketing intellectual property within the branded business.
There's also an international standard — ISO 10668 — that defines brand as a "marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits."