Piaggio Group (PIA.MI), Europe’s largest scooter and motorcycle manufacturer and one of the world leaders in the industry, has shared the findings of a new report that explores the details behind Vespa’s strong brand value – identifying the brand as a key asset in its broader portfolio. The results of the analysis show that in 2021, the Vespa brand value totalled 906 million Euros.
Findings in the report by the leading brand consultancy, Interbrand, point to what it describes as “a unique, globally recognized brand, thanks to its perfect combination of design, lifestyle and Italian heritage”, ultimately estimating the Vespa brand value to be 906 million Euros.
In determining the Vespa brand’s financial value, Interbrand employed proven, proprietary brand valuation techniques, incorporating a comprehensive set of resources, market data, and quantitative studies conducted across Vespa’s 10x key markets.
Among the key contributing factors to Vespa’s overall Brand Strength Score was Distinctiveness within the industry, thanks to the uniqueness and recognizability of its product design and the heritage which characterized this Italian Icon. Affinity also plays a significant role in deriving brand value – highlighting customers’ strong positive feelings toward the brand. Overall the brand plays in an arena that is broader than mobility, addressing needs such as self-expression and entertainment.
2021 represented a strong year for Vespa, which celebrated its 75th anniversary, with the launch of Vespa 75th Special Series; more than 19 million units have been produced and sold since 1946 – a milestone reached over the past 12 months. Vespa also saw success across the expansion of its brand ecosystem – with the launch of the new Vespa 946 Christian Dior, a collaboration with Justin Bieber, and the global resonance generated through the Disney Pixar movie “Luca” in which the Vespa is integral to the film’s plot and narrative.