The brand Vespa, recognised globally as a lifestyle icon, has achieved a valuation of over 1 billion euros, marking a 19% growth compared to the previous valuation of 906 million euros in 2021. This valuation comes from a study commissioned by Piaggio Group, Europe’s largest scooter and motorcycle manufacturer, conducted by Interbrand. Vespa’s global influence is highlighted in terms of design, lifestyle, and entertainment, making it a truly distinctive and sought-after brand.
Manfredi Ricca, Interbrand’s Global Chief Strategy Officer, emphasised Vespa’s iconic status, describing it as a heritage brand that constantly evolves, blending Italian essence with global appeal. The study focused on Vespa’s financial value, utilising proprietary brand valuation techniques, financial analysis, and global market research across key markets such as Italy, France, Germany, Spain, the USA, Vietnam, Thailand, Indonesia, China, and India.
Vespa continues to lead in European markets and is gaining significance in the US and Asia, particularly in Indonesia, where Piaggio Group recently established a new plant. The brand is not merely perceived as a scooter; globally, it represents self-expression within communities and a product for leisure and entertainment. Strategic partnerships with Dior, Disney Pixar’s Luca, Justin Bieber, Lego, and Mickey Mouse have reinforced Vespa’s unique DNA, the study shared.
Interbrand’s study identified affinity and distinctiveness as key strengths of the Vespa brand, emphasising its deep connection with customers and the ability to create emotional bonds through innovation. Vespa’s role as a fashion-lifestyle brand on two wheels remains strong, driving customer choices in an industry traditionally tied to functional aspects.
Despite the current complex economic landscape, Vespa’s brand serves as both a risk mitigator and a business accelerator. The momentum of the Piaggio Group is evident, reaching a milestone of 2 billion euros in revenue in 2022, marking a 25% growth compared to the previous year.