OMG Wins Michelin's Global Media Account
The account is said to be worth $89.5 million
According to an industry report, Omnicom Media Group has won Michelin's $89.5 million global media account. The brand stands as one of the biggest producers of tyres worldwide.
With a brand worth USD 7.9 billion, Michelin has maintained its position as the most valuable tyre brand in the world for the seventh year running, according to new statistics from Brand Finance. Despite several issues affecting the market and performance, such as decreased sales of replacement market units and declining sales within the road transport segment, the value of the French brand has stayed consistent from year to year.
Michelin scored 85.6 out of 100 on the Brand Strength Index (BSI) in 2024, making it the strongest tyre brand globally. Michelin's BSI score dropped by 2.5 points, mostly because of lower-than-expected revenue, but Brand Finance research shows that it performs exceptionally well in familiarity and recommendation. Additionally, Michelin has the best price acceptance in its native market.
With a 13 per cent and 8 per cent rise in brand value, respectively, Bridgestone and Continental Tires have taken the second and third spots in the ranking. The brand value of Bridgestone has increased to USD 7.6 billion, bringing its deficit to just USD 254 million from long-time leader Michelin.
