Japanese tyre giant Bridgestone is the world’s most valuable tyre brand according to new research from brand valuation and marketing experts Brand Finance. Results from the latest BrandFinance® Global 500 show that despite the growth of Michelin (now valued at US$4.36 billion) Bridgestone retains its position as the world’s most valuable tyre brand. It leads its French rival by over US$100 million with a brand value of US$4.45 billion.
World’s Most Valuable Tyre Brands
Brand Finance Chief Executive David Haigh stated, “The tyre market is forecast to grow 5% per annum to 2015 and competition for this growing prize is intensifying. In what is one of the most highly branded industry sectors, manufacturers spend millions of dollars on sponsorships, advertising and promotional activity in order to gain market share, particularly within Asia Pacific, which accounts for half of the global tyre market.”
With Asian growth in mind, Bridgestone has turned its attention to India where it has just opened a new plant in Pune, India, with the capacity to manufacture 10,000 passenger car tyres per day by the end of this year.
Growth is not the only concern however, brand development and protection are also crucial. Chinese tyre company Guangzhou Bolex had been manufacturing and selling tyres under the ‘Gemstone’ brand, using the same font and colours of the Bridgestone trademark. Bridgestone’s successful multi-million dollar trademark infringement action in one of its biggest markets demonstrates its commitment to protecting its intellectual property rights and maintaining its brand value globally.
Commenting on the results, a Bridgestone spokesperson said, “As a global brand, Bridgestone responds to its customer needs in three important ways: by committing to manufacturing world class quality products made only from materials that are renewable or recyclable; to reduce CO2 emissions as a business and to operate in a way that ensures a balance with the environment.”
Note to Editors
For the online version of the table, which allows you to select and compare brands and automatically generate graphs, please click here. For the results of the world’s top 500 most valuable brands from all sectors, click here. If you would be interested in partnering with Brand Finance to produce a feature on the World’s most valuable tyre brands with extended tables, further analysis and commentary please get in touch.
About Bridgestone Europe
Bridgestone Europe (BSEU), with European headquarters in Brussels, Belgium, is a key regional subsidiary of Tokyo-based Bridgestone Corporation, the world’s largest manufacturer of tyres and other rubber products. Bridgestone Europe operates an R&D center, 8 plants and offices in more than 30 European countries, with over 13,000 employees. BSEU’s premium tyres are sold both within Europe and globally.