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 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.