The study conducted by Interbrand, global leader in brand consultancy, indicates Vespa as “an iconic, unique and globally recognized brand”, certifying its economic value for the first time
An Italian style icon in the mobility sector since 1946: the Vespa is known throughout the world. A brand whose value continues to grow and has been valued at 1.079 billion euros. An increase of 19% compared to the value obtained in 2021 of 906 billion euros. This is the result of the study commissioned by the Piaggio Group to the global brand consultancy Interbrand on Vespa. The analysis demonstrates the global presence of a scooter in terms of distinctiveness, design, lifestyle and fun.
From origins to myth
“Vespa is a historic brand that is constantly evolving. It is profoundly Italian and loved globally” declares Manfredi Ricca, Global Chief Strategy Officer of Interbrand. “Our evaluation work not only puts the success of this desired and requested brand into numbers, but also shows that Vespa can embody values such as freedom and joy of living, conquering new arenas beyond the boundaries of mobility. The scope and success of the collaborations demonstrate this” continues Ricca.
In determining the economic value of the Vespa brand, Interbrand used consolidated proprietary evaluation techniques, incorporating primary data and quantitative studies into the financial analysis resulting from global market research in Vespa’s 10 reference markets: Italy, France, Germany, Spain, USA, Vietnam, Thailand, Indonesia, China and India.
The Vespa brand confirms its leadership in the European markets and has increased its relevance in the United States and Asia, showing growth especially in Indonesia, a country where the Piaggio Group recently inaugurated a new factory for the local market. The results of these analytical assessments indicate that in the complex scenario of the current macroeconomic context, the Vespa brand performs the dual function of risk mitigator and authentic business accelerator.
The Piaggio group
Another key element to consider is also the particularly positive moment that the Piaggio Group is experiencing. In fact, in 2022 it achieved excellent results, reaching the historic milestone of 2 billion euros in turnover, with growth of +25% compared to the previous year. “The term iconic is often overused, but there is really no other way to define this brand” underlines Manfredi Ricca, global chief strategy officer of Interbrand.