According to a report by Campaign UK, Omnicom Media Group has won Michelin’s global media account, valued at $89.5 million, after a multi-agency competition. This is another success for the global media buying and planning company, which is part of the Omnicom Group. Michelin is one of the world’s largest tire manufacturers.
Michelin secured its position as the world’s most valuable tire brand for the seventh consecutive year with a brand value of $7.9 billion, according to new data from Brand Finance, the world’s leading brand valuation consultancy. The French brand’s value remained stable year-on-year despite several factors affecting the market and performance, including declining sales in the road transport segment and reduced volumes in the aftermarket.
In 2024, Michelin is also the strongest tire brand in the world, achieving a Brand Strength Index (BSI) score of 85.6 out of 100. Despite a 2.5-point drop in the BSI score, mainly due to a decline in forecast sales, the Brand Finance study shows that Michelin stands out in the areas of awareness and recommendation. In its home market, Michelin also enjoys the highest price acceptance.
Bridgestone and Continental Tires secured second and third place in the rankings, respectively, after increasing their brand value by 8% and 13%, respectively. Bridgestone’s brand value rose to USD 7.6 billion, narrowing the gap to long-time leader Michelin to just USD 254 million.
