MRF emerges as ‘second strongest tyre brand in the world’
Tags: National News
MRF Ltd has emerged as thesecond-strongest tyre brand in the world according to the latest report by Brand Finance on the 'Most Valuable and Strongest Tyre Brands' in the world.
An overview of the news
MRF has scored high in almost all parameters and is also recognized as the second fastest growing tire brand in the world.
It has scored 83.2 out of 100 in brand strength and has been awarded AAA- brand rating.
MRF scored high in the Sustainability Perception Value and is the only Indian tire manufacturer to feature in the top 10.
Brand Finance's annual report on the Most Valuable and Strongest Automobile, Auto Component, Tire and Mobility 2023 analyzes the value of brands across these industries.
Brand value is understood as the net economic benefit that a brand owner would gain by licensing it on the open market.
A brand's strength is assessed through a balanced scorecard of factors such as marketing investment, stakeholder equity and business performance.
About MRF Ltd
MRF (Madras Rubber Factory) is India’s No.1 tyre manufacturing company.
It was started in 1946 by K M Mammen Mappillai as a small toy balloon unit.
In November 1960 it ventured into manufacturing of tyres.
The company entered into a technical collaboration with Tire & Rubber company, USA.
Currently MRF exports tyres to over 65 countries including America, Europe, Middle East, Japan, and the Pacific region.
It has overseas offices in Dubai, Vietnam and Australia.
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