SINGAPORE, June 12, 2024 /PRNewswire/ — In Brand Finance®’s recent release of its 2024 World’s Most Valuable and Strongest Tire Brands ranking, Giti was recorded to have a USD 924 million increase since 2023, an impressive 19% growth, that saw Giti’s Brand Value rank improve to 9th position out of the Top 10 Tire Brands in the world, and be hailed as the "fastest-growing tire brand in the world this year".
Giti’s Green Initiatives increase brand value and sustainability perception, winning it recognition as the fastest-growing tire brand in the world.
This achievement was not reached overnight and Giti is steadily reaping the rewards of its past and current investments. With over 70 years of development, Giti has continually grown its Original Equipment Manufacturing business base, currently appearing as Original Tires on over 675 vehicle models around the world. This secures for Giti strong, stable future revenue growth prospects, while increasing brand presence around the globe through the export of vehicles from the manufacturing capital of the world.
Outside the vicinity of its manufacturing facilities, Giti has experienced strong acceptance and brand loyalty in Indonesia, while its reputation has seen upward progression in the UK, Italy and Germany.
Setting itself apart from other tire brands of similar origins, Giti’s focus on sustainability has also been recognised, raising the brand’s Sustainability Perceptions Value up 3 positions, to 7th position. Dedicated to all-rounded sustainability, Giti sets ambitious targets, like 100% sustainably-sourced materials, and Net Zero manufacturing by 2050. On track to achieve these targets, Giti has reported a year-on-year decrease in Carbon Dioxide Equivalent emissions through initiatives like reforestation and the installation of solar panels to offset factory energy requirements. Recognised by Brand Finance® as establishing a "solid, core technology system", Giti embraces Industry 4.0 concepts in its recently-announced new factory (that is in the process of being constructed). It will feature state-of-the-art manufacturing facilities and the latest sustainable warehousing technologies that reduce energy consumption.
Poised with a wide array of products, with particular success in EV-ready tires, Giti has armed itself with an arsenal of tools to ride on the wave of New Energy Vehicles (NEVs) that has been taking the world by storm. Providing worldwide support through their global distribution network, Giti brings its high-quality products to support the increasing global demand for tires.
With a focus on "Technology First", Giti continues to make innovations in tire technology such as GitiSeal, GitiSilent, low-rolling resistance tires, sustainably-made tires, motorsports tires, intelligent tires and RFID tires, constantly looking to bring the next big thing to the world.
"We are proud of our achievements thus far," comments Ms Shiroo Chia, Head of Marketing (Rest of World) at Giti Tire, "But Giti is not going to rest on these laurels. Supported by a shared corporate direction, our dedicated team from all around the world will continue to work hand-in-hand to further our developments sustainably, to build Giti into a brand that is synonymous with the future of the automotive industry."
The full Brand Finance® report can be purchased here: https://brandirectory.com/rankings/tyres/
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