Giti Tire has been recognised as the fastest-growing tire brand in the world this year, according to Brand Finance's 2024 World's Most Valuable and Strongest Tire Brands ranking. Giti’s brand value has seen a substantial increase of USD 924 million since 2023, marking an impressive 19% growth. This surge has propelled Giti to 9th place in the Brand Value rankings and to 7th place in Sustainability Perception.
Giti’s success story is rooted in over 70 years of continuous development and strategic investments. The company has steadily expanded its Original Equipment Manufacturing (OEM) business, now featuring as original tires on over 675 vehicle models worldwide. This broad presence not only ensures robust and stable future revenue growth but also enhances Giti’s global brand visibility through vehicle exports from major manufacturing hubs.
One of the key markets where Giti has garnered strong acceptance and brand loyalty is Indonesia. Additionally, the brand's reputation has seen significant growth in the UK, Italy, and Germany, further solidifying its international presence.
A critical differentiator for Giti has been its unwavering commitment to sustainability. This dedication has been recognised by Brand Finance, with Giti’s Sustainability Perceptions Value climbing three positions to 7th place. The company has set ambitious sustainability goals, including sourcing 100% sustainable materials and achieving net zero manufacturing by 2050. Giti is actively working towards these targets, reporting a year-on-year decrease in Carbon Dioxide Equivalent emissions through various initiatives such as reforestation and the installation of solar panels at its factories.
Embracing Industry 4.0 concepts, Giti is in the process of constructing a new factory equipped with state-of-the-art manufacturing facilities and sustainable warehousing technologies aimed at reducing energy consumption. This move underscores the company's dedication to leveraging advanced technology to support its sustainability goals.
Giti’s product range is extensive and includes notable advancements in EV-ready tires, positioning the brand to capitalise on the growing market for New Energy Vehicles (NEVs). Through its global distribution network, Giti provides high-quality products to meet the increasing global demand for tires.
Innovation remains a cornerstone of Giti’s strategy. The company continues to develop cutting-edge tire technologies such as GitiSeal, GitiSilent, low-rolling resistance tires, sustainably-made tires, motorsport tires, intelligent tires, and RFID tires. These innovations underscore Giti’s commitment to leading the future of tire technology.
"We are proud of our achievements thus far," said Ms Shiroo Chia, Head of Marketing (Rest of World) at Giti Tire. "However, 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."
For those interested in a more detailed analysis, the full Brand Finance report can be purchased from their official website: https://brandirectory.com/rankings/tyres/
