In Italy they know it: either you drive a scooter or you drive a Vespa. A new report commissioned by parent company Piaggio provides insight into the exceptional market value of Vespa, which celebrated its 75th anniversary last year.
Piaggio Group today shares the findings of a new report providing insight into Vespa’s exceptional brand value. Piaggio identifies Vespa as a key asset in its broader portfolio. The results of the analysis show that Vespa’s brand value in 2021 totaled 906 million euros.
“Vespa is much more than an automotive brand. It symbolizes art, design, technology and fun. Vespa is a style icon: its special character makes it one of the most admired and coveted brands, belonging to the premium segment as well as to the fashion and lifestyle brands.”
“That’s why we need to start comparing it with other global brands that go beyond pure mobility and we asked Interbrand, the world’s largest brand consultancy, to determine and analyze the financial value of the Vespa brand. This is not the end of the line, but a new starting point as we continue to build the future of Vespa.”
Findings in the report from leading brand consultancy Interbrand point to what it describes as “a unique, globally recognized brand, thanks to the perfect combination of design, lifestyle and Italian heritage”, ultimately estimating Vespa’s brand value at €906 million.
“The term ‘iconic’ may be overused, but there’s really no other way to define this brand.” “Vespa is a heritage brand, yet it’s constantly evolving; it’s Italian through and through, yet loved worldwide; it’s premium, yet inclusive. This rating report doesn’t just translate the enthusiasm and demand for this brand into numbers – it also shows that Vespa is at the intersection of mobility, expression and culture.”
In determining the financial value of the Vespa brand, Interbrand has used proven proprietary brand valuation techniques, using a comprehensive set of sources, market data and quantitative studies conducted in Vespa’s 10 major markets.
One of the main factors contributing to Vespa’s overall brand score was its distinctiveness within the industry, thanks to the uniqueness and recognisability of the product design and heritage that characterize this Italian icon.
Affinity also plays an important role in inferring brand equity – highlighting customers’ strong positive feelings toward the brand. Overall, the brand is playing in an arena broader than mobility, catering to needs such as self-expression and entertainment.
Vespa represents the Italian essence at its best: a timeless icon whose heritage has inspired millions of people worldwide. The Vespa brand transcends functional product benefits – and is synonymous with lifestyle, with the dual benefit of a critical emotional connection with customers.
2021 was a strong year for Vespa, which celebrated its 75th anniversary with the launch of the Vespa 75th Special Series. More than 19 million units have been produced and sold since 1946, a milestone reached in the past 12 months.
Vespa has also been successful in expanding the brand’s ecosystem, thanks to the launch of the new Vespa 946 Christian Dior, a collaboration with Justin Bieber and the worldwide resonance generated by the Disney Pixar film “Luca”, in which the Vespa is an integral part. of the plot and story of the film.
The brand value of 906 million euros represents an important milestone for this much-loved Italian brand and emphasizes its relevance among its global audience. It is a starting point for a long-term plan that will take Vespa towards new ambitious goals through innovations and global partnerships.
– Thanks for information from Motorfreaks.