At WPP, we have been publishing studies and reports on brands in China for a number of years. Our China Top 100 is the definitive guide on the brand value of China’s largest and most successful businesses.
One of the most interesting developments I have seen in China over the last few years has been the increasing fascination Chinese corporates have in acquiring western brand assets.
This covers most industry sectors, different nationalities and includes iconic brands such as Volvo, Weetabix, the Waldorf Astoria and now Pirelli Tyres. In most cases, these businesses have thrived and the new owners seem to have a respect and appreciation of the assets that they have acquired. I think many people have been pleasantly surprised at this and perhaps even a little jealous.
Speaking as someone who has launched consumer brands in China and other countries I am not surprised at all. The Chinese have a deep understanding of the value of brands and I hope that Pirelli will emerge stronger and healthier. I look forward to seeing the results.