MRF has announced that it has been recognised as the world's second most valuable and strongest tyre brand by Brand Finance, followed by Michelin and Pirelli. The podium position, however, has been taken by Sailun, a Chinese tyre brand.
MRF is also featured as the second fastest-growing tyre brand in the world. It scored 83.2 out of 100 in brand strength and was awarded an AAA- brand rating.
The report also features MRF as the most valued Indian tyre brand and scored high in the Sustainability Perception Value, and is the only Indian tyre manufacturer to be featured in the top ten.
Brand Finance, a UK-based brand evaluation company, stated that a brand’s strength is evaluated through a balanced scorecard of factors such as marketing investment, stakeholder equity, and business performance and used to determine what proportion of a business’s revenue is contributed by the brand.
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