The Piaggio Group reveals the results of a study that explores and analyzes the value of the Vespa brand. AND The results are certainly more than positive, given that in the analysis, in 2021, the value of the Vespa brand was valued at 906 million euros.
The study was conducted by Interbrand, a well-known company in the brand consultancy field, and indicates Vespa as “a unique and globally recognized brand, thanks to its perfect combination of design, lifestyle and Italian tradition”. In determining the economic value of the Vespa brand, Interbrand used proven and proprietary financial evaluation techniques, incorporating a complete set of insights, market data and quantitative studies conducted in Vespa’s 10 reference markets.
“Vespa is much more than a mobility brand; symbolizes art, design, technology and fun “, said Michele Colaninno, CEO for strategy, product and innovation of the Piaggio Group. “Vespa is a style icon: its uniqueness makes it one of the most admired and desired brands, belonging to the premium world as well as to the fashion and lifestyle one. For this reason, we need to start comparing ourselves with other global brands that belong to categories other than pure mobility. We therefore asked Interbrand, the world’s leading brand consultancy, to determine and analyze the financial value of the Vespa brand: it is not a goal, but simply a new starting point for continuing to build the future of Vespa. “
Vespa, this is where it stands out and increases the value of the brand
The competitive strength of the Vespa brand (Brand Strength Score) is determined by two primary factors, namely Distinctiveness and Affinity. THEThe first highlights the degree of differentiation within the reference sector, thanks to the uniqueness and recognizability of the design of its vehicles. The second factor underlines the strong positive feelings of customers towards the brand. Combining these two factors, it is therefore clear how Vespa goes beyond the concept of pure mobility, satisfying desires such as the expression of one’s style and leisure.
“The term ‘iconic’ is overused, but there really is no other way to define this brand”, he has affirmed Manfredi Ricca, Interbrand’s Global Chief Strategy Officer. “Vespa is a historic but constantly evolving brand; he is deeply Italian and loved globally; it is premium and at the same time inclusive. Our evaluation work not only puts the success of this brand into numbers, but also shows that Vespa is unique; an asset at the crossroads between mobility, expression and culture “.
In 2021 Vespa celebrated its 75th anniversary with the launch of the model 75th Special Series and reached the milestone 19 million units produced and sold from 1946 to today. Vespa has also been successful in expanding its ecosystem by launching the new Vespa 946 Christian Dior, starting a collaboration with Justin Biebere gaining global resonance with the Disney Pixar movie “Luca” in which the Italian scooter is an integral part of the film’s plot and narrative.