Last year PIAGGIO celebrated the 75th anniversary of the Italian scooter. And the Italians worried about one thing in particular: what will the brand be worth in 2021? Interbrand, a well-known consulting firm, was commissioned to come up with a number. The result is astounding and was worth a press release to PIAGGIO: 906 million euros. Since 1946, 19 million vehicles have been sold worldwide.
The Italian legacy is always present in the design
In the press release, Michele Colaninno, PIAGGIO Group Board Director for Strategy, Products, and Innovation, is quoted as saying, “The scooter is much more than a means of transportation; she is a symbol of art, design, technology, and pleasure. Vespa is a style icon, and its uniqueness makes it one of the most admired and sought-after brands in both the premium, fashion and leisure sectors. Therefore, we need to start comparing it to other global brands that go beyond mobility. For this reason, we have hired Interbrand, the world’s best brand consultant, to identify and analyze the commercial value of the brand. This is not the end, but a new starting point for the future development of the company.“
Italian style icon since 1946
For more than 30 years, the consulting firm Interbrand has been analyzing and evaluating brands. Those who compile the list of the 100 most valuable brands in the world every year like to pop the corks. The brand was recognized in the two-wheeler category for the originality and high recognition value of its product design, as well as its 75-year history. “The word ‘iconic‘ is overused, but there is no other way to describe this brand,” said Manfredi Ricca, global chief strategy officer at Interbrand. “The historic brand is constantly evolving; it’s deeply Italian yet globally loved; it’s high-end yet accessible. Our study not only demonstrates the brand’s popularity and demand in numbers, but also shows that Vespa is fundamentally a category at the intersection of mobility, expression and culture.” The year 2021 was a good one for the brand. With the launch of the new “946 Christian Dior“, the collaboration with Justin Bieber and the global response to the Disney Pixar film ” Luca “, in which the brand is an integral part of the plot and the narrative, the company successfully expanded its brand environment. And thanks to director Robert Rodriguez, the scooter has even found its way into the Star Wars universe.
The company achieves a brand value of more than 900 million euros
The brand value of 906 million euros is a significant milestone for this well-known Italian company and proves its relevance to its global audience. SIP Scootershop is also excited to see how the company will evolve in the coming years. The demands of the global markets are changing rapidly, gasoline engines seem to be on the verge of extinction, and PIAGGIO will have to come up with new ideas to ensure the brand’s existence.
