ML on Euronext Paris

Michelin

Logo: Trademarked by Michelin/Registrado por Michelin. Upload by: Spider_pig, Public domain, via Wikimedia Commons4

French multinational tyre company

Compagnie Générale des Établissements Michelin SCA ("General Company of the Michelin Enterprises P.L.S."), commonly referred to as Michelin ( MISH-əl-in, MITCH-əl-in, French: ), is a French multinational tyre manufacturer based in Clermont-Ferrand in the Auvergne-Rhône-Alpes région of France. In addition to the Michelin brand, it also owns the Kleber Tyre Company, Uniroyal (in North America, Colombia, and Peru), BFGoodrich, Riken, and SASCAR (among various others) brands.2 It was founded by Édouard Michelin and André Michelin.1 Its chief executive is Yves Chapot (since 2018).1 It employed about 105,700 people in 2016.1 Its revenue was €26 billion in 2025.1 Its shares trade on Euronext Paris under the symbol ML.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

May 28, 1889Founded1

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  • TickerML on Euronext Paris1
  • Industryautomotive industry, business and other management consulting, manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres, plastics and rubber industry1
  • HeadquartersClermont-Ferrand1
  • Founded inClermont-Ferrand1
  • Websitewww.michelin.com
  • Legal formsociété en commandite par actions1
  • Slogan“Motion for life”1
  • Kind of organizationPartnership limited by shares1
  • LEI549300SOSI58J6VIW0523
  • StatusActive3
  • LEI statusIssued and current3
  • Registered address23 PLACE DES CARMES-DECHAUX, 63000 Clermont-Ferrand, France3
  • Registered withInfogreffe, 855 200 8873
Siège de Michelin à Clermont-Ferrand II
Photo: Cyril5C, CC BY-SA 4.0, via Wikimedia Commons10

Compagnie Générale des Établissements Michelin SCA ("General Company of the Michelin Enterprises P.L.S."), commonly referred to as Michelin ( MISH-əl-in, MITCH-əl-in, French: [miʃlɛ̃]), is a French multinational tyre manufacturer based in Clermont-Ferrand in the Auvergne-Rhône-Alpes région of France.2

Corporate structure

Michelin sits at the top of its group. 81 entities, 29 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Michelin Clermont-Ferrand, France
    • Fenner plc Hessle, United Kingdom
      • FENNER INTERNATIONAL LIMITED Subsidiary · Hessle, United Kingdom
      • HALLITE SEALS INTERNATIONAL LIMITED Subsidiary · Hessle, United Kingdom
      • J.H. FENNER & CO. LIMITED Subsidiary · Hessle, United Kingdom
      • JAMES DAWSON & SON,LIMITED Subsidiary · Hessle, United Kingdom
    • Michelin Air Services Clermont-Ferrand, France
    • Michelin North America New York, New York, United States
    • Pneu Laurent Avallon, France
    • AddUp Subsidiary · Cébazat, France
    • BFGoodrich Subsidiary
    • Blackcircles.com Subsidiary · Edinburgh, United Kingdom
    • Kleber Tyre Company Subsidiary
    • Michelin (Canada) Subsidiary · Laval, Canada
    • Média-Participations Subsidiary · Paris
    • Nihon Michelin Tire Subsidiary · Shinjuku Park Tower, Japan
    • Riken Subsidiary
    • Tigar Tyres Subsidiary · Pirot
    • Tyremore Subsidiary
    • Tyreplus Subsidiary
    • United States Rubber Company Subsidiary · Naugatuck
    • ViaMichelin Subsidiary · Frankfurt am Main
    • MC Projects Subsidiary · 50%
    • CAMSO DISTRIBUCION MEXICO SA DE CV Subsidiary · Tultitlan, Mexico
    • CAMSO VIETNAM CO., LTD Subsidiary · Tan Uyen, Vietnam
    • COMPAGNIE FINANCIERE MICHELIN Subsidiary · Clermont-Ferrand, France
      • MICHELIN ESPAÑA PORTUGAL SA Subsidiary · Madrid, Spain
      • Michelin Finance (Luxembourg) S.a r.l. (Michelin Finance (Luxembourg) S.à r.l.) Subsidiary · Luxembourg, Luxembourg
      • MICHELIN HUNGÁRIA ABRONCSGYÁRTÓ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG Subsidiary · Nyíregyháza, Hungary
      • MICHELIN INDIA PRIVATE LIMITED Subsidiary · Chennai, India
      • MICHELIN KOREA CO., LTD. (미쉐린코리아) Subsidiary · Gangnam-Gu, South Korea
      • Michelin Luxembourg SCS Subsidiary · Luxembourg, Luxembourg
      • Michelin Nordic AB Subsidiary · Stockholm, Sweden
      • MICHELIN POLSKA SPÓŁKA AKCYJNA Subsidiary · Olsztyn, Poland
      • MICHELIN TYRE PUBLIC LIMITED COMPANY Subsidiary · Stoke-On-Trent, United Kingdom
      • PT MICHELIN INDONESIA Subsidiary · Jakarta, Indonesia
      • PT SYNTHETIC RUBBER INDONESIA Subsidiary · Banten, Indonesia
      • SOCIETA' PER AZIONI*MICHELIN ITALIANA*S.A.M.I. Subsidiary · Turin, Italy
      • SOCIETE DES MATIERES PREMIERES TROPICALES PTE LTD Subsidiary · Singapore, Singapore
    • COMPAGNIE FINANCIÈRE MICHELIN SUISSE SA Subsidiary · Granges-Paccot, Switzerland
    • CR FUNDING CORPORATION Subsidiary · Wilmington, Delaware, United States
    • CVB PRODUTOS INDUSTRIAIS LTDA Subsidiary · Sao Paulo, Brazil
    • EUROMASTER SERVICES ET MANAGEMENT Subsidiary · Clermont-Ferrand, France
    • and 23 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

What it owns

What Michelin reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded by André Michelin and Édouard Michelin on May 28, 1889, in Clermont-Ferrand.1

In 1889, two brothers, Édouard Michelin (1859–1940) and André Michelin (1853–1931), took over Barbier Daubrée, a struggling farm implement business founded in 1832 in Clermont-Ferrand, France. Barbier-Daubrée manufactured rubber parts for farm machinery such as valves and gaskets and other rubber items such as balls and brake pads. One day a cyclist whose pneumatic tyre needed repair turned up at the factory. The tyre was glued to the rim, and it took over three hours to remove and repair the tyre, which then needed to be left overnight to dry.

The next day, Édouard Michelin took the repaired bicycle into the factory yard to test. After only a few hundred metres, the tyre failed. Despite the setback, Édouard was enthusiastic about the pneumatic tyre, and he and his brother worked on creating their own version, one that did not need to be glued to the rim. Barbier-Daubrée was reincorporated and renamed as Michelin on 28 May 1889. In 1891 Michelin took out its first patent for a removable pneumatic tyre which was used by Charles Terront to win the world's first long-distance cycle race, the 1891 Paris–Brest–Paris. Four years later, Michelin created the world's first pneumatic tyres (originally pioneered in 1888 by John Boyd Dunlop for bicycles) for automobiles, using them in a car called L'Eclair competing in the 1895 Paris-Bordeaux-Paris race.

In the 1920s and 1930s, Michelin operated large rubber plantations in Vietnam. Conditions at these plantations led to the famous labour movement Phú Riềng Đỏ.

In 1934, Michelin introduced a tyre which, if punctured, would run on a special foam lining, a design now known as a run-flat tyre (self-supporting type).

Michelin developed and patented a key innovation in tyre history, the 1946 radial tyre, and successfully exploited this technological innovation to become one of the world's leading tyre manufacturers. The radial was initially marketed as the "X" tyre. It was developed with the front-wheel-drive Citroën Traction Avant and Citroën 2CV in mind.

Michelin had bought the then-bankrupt Citroën in the 1930s. Because of its superiority in handling and fuel economy, use of this tyre quickly spread throughout Europe and Asia. In the U.S., the outdated bias-ply tyre persisted, with a market share of 87% in 1967. Michelin also introduced the XAS, the world's first asymmetric tyre, in 1964.

In 1966, Michelin partnered with Sears to produce radial tyres under the Allstate brand and was selling 1 million units annually by 1970.

In 1968, Michelin opened its first North American sales office, and was able to grow that market for its products rapidly; by 1989 the company had a 10% market share for OEM tyres purchased by American automobile makers.

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Also in 1968, Consumer Reports, an influential American magazine, acknowledged the superiority of the radial construction, setting off a rapid decline in Michelin's competitor technology. In the U.S., the radial tyre now has a market share of 100%.

In addition to the private label and replacement tyre market, Michelin scored an early OEM tyre win in North America, when it received the contract for the 1970 Continental Mark III, the first American car with radial tyres fitted as standard.

In 1989, Michelin acquired the recently merged tyre and rubber manufacturing divisions of the American firms B.F. Goodrich Company (founded in 1870) and Uniroyal, Inc. (founded in 1892 as the United States Rubber Company) from Clayton, Dubilier & Rice. Uniroyal Australia had already been bought by Bridgestone in 1980. This purchase included the Norwood, North Carolina manufacturing plant which supplied tyres to the U.S. Space Shuttle Program.

Also in 1989, Michelin created Michelin Okamoto Tire Corporation, a joint venture with Japanese rubber/condom manufacturer Okamoto Industries, who already owned the Riken brand. In Japan, MOTC marketed Michelin, BFGoodrich, and Riken, which Michelin still markets today as a budget performance tyre brand.

In 1994, Michelin Okamoto launched the Green X line of fuel-saving tyres, a line of studless winter tyres: the Maxi-Glace (a version of the XM+S 100 for the Japanese market), W-Edge (rebranded XM+S Alpin), and the Maxi Ice, as well as a high performance tire, the GTX Virage, which was also marketed as the MXF Sport in some countries. The joint venture was later terminated in 2000, with Michelin buying all of Okamoto's shares.

In 1992, Michelin unveiled the green tyre, a tyre featuring Green X technology, advertised as saving fuel, lowering rolling resistance, and reducing emissions, in that year's Paris Motor Show with the MXN, a variant of their MXT tyre.

The green tyres was launched to the public released in 1994, marketed as the Energy in Europe and the rest of the world, and as the Green X in Japan. In Europe, the Energy launched with the Energy MXT, a fuel-saving version of their regular MXT tyre and the Energy MXV3-A for luxury cars. In 1997, the Energy MXV4, an asymmetric luxury performance tyre, was added to the lineup.

In Japan, the Green X line began with the MXGS in 1994. The line later consisted of the MXGS, MXT Green (released in 1996), MXV3-A Green (released in 1997), MXV4 Green (also released in 1997), MXE Green (a successor to the MXT, released in 1998), and the MXK Green (for kei cars, released in 1999). In the early 2000s, the series was unified globally as the Energy, and is still sold today as the Energy Saver line.

As of 1 September 2008, Michelin is again the world's largest tyre manufacturer after spending two years as number two behind Bridgestone. Michelin produces tyres in France, Serbia, Poland, Spain, Germany, the US, the UK, Canada, Brazil, Thailand, Japan, India, Italy and several other countries.

On 15 January 2010, Michelin announced the closing of its Ota, Japan plant, which employs 380 workers and makes the Michelin X-Ice tyre. Production of the X-Ice will be moved to Europe, North America, and elsewhere in Asia. In 2019, Michelin announced that plants in Germany and France are to be closed soon.

In 2010, Michelin introduced its sonic identity, created by the agency Sixième Son, notably presented at the Paris Motor Show and deployed across the brand’s communications. The sonic signature was rolled out internationally across advertising, audiovisual content and brand touchpoints.

Michelin also controls 90% of Taurus Tyre in Hungary, as well as Kormoran, a Polish brand.

In December 2018, Michelin acquired Camso, a manufacturer of off-the-road tyres, tracks, and accessories for power sports, agriculture, material handling and construction markets.

On 22 January 2019, it was announced that Michelin had acquired Indonesian manufacturer Multistrada Arah Sarana, which produces Achilles Radial and Corsa tyres. On 19 June that year, Michelin owns 99.64% of the share capital of Multistrada.

In April 2026, Michelin announced the completion of its acquisition of the American company Flexitallic.

From Wikipedia’s article on Michelin, shared under CC BY-SA 4.0.5

Leadership

Who has led Michelin, and when. Pick a name to see everywhere that person has worked.

Products and brands

  • tire

Listed on Wikidata.1

Tyre retailer

Michelin operates tyre retail and distribution in Europe under Euromaster and Blackcircles brands, and in the US with its wholly owned subsidiary TCI Tire Centers. TCI tire centers was folded into NTW, when Michelin partnered with Sumitomo to form the entity. The company also manages its own e-commerce store, michelinman.com.

Tour guides

Michelin has long published two guidebook series, the Red Guides for Hotels and Restaurants, and the Green Guides for tourism. It now publishes several additional guides, as well as digital maps and guide products. The city maps in both the Red and the Green guides are of high quality, and are linked to the smaller-scale road maps.

Maps

Michelin publishes a variety of road maps, mostly of France but also of other European countries, countries in Africa, Thailand and the United States. They have recently embarked on e-commerce selling Michelin maps and guides directly to the public through, for example, their UK website. The Michelin roadmaps were reproduced in England for the Allied invasion during World War II. In 1940, the Germans also reproduced the 1938 edition of Michelin maps for the invasion.

Online mapping

ViaMichelin is a wholly owned subsidiary of Michelin Group, and was started in 2001, to represent Michelin's digital mapping services. As of August 2008, ViaMichelin generates 400 million maps and routes per month on its main website.

Read the full text

ViaMichelin provides mapping for internet, mobile and satellite navigation products with street level coverage of Europe, USA, Australia, and parts of Asia and South America.

Michelin Challenge Bibendum / Movin'On (since 2017)

The Michelin Challenge Bibendum is a major sustainable mobility event.

Michelin Truck and Bus

In 1952, 6 years after Michelin patented its Radial Casing, Michelin adapted the radial technology to truck tyres.

From Wikipedia’s article on Michelin, shared under CC BY-SA 4.0.5

Subsidiaries and ownership

Subsidiaries

Also owns

Subsidiaries (GLEIF)

Also consolidated

From Wikidata.1 Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Acquisitions

  1. 2022Acquired RoadBotics1

Employees over time

  • 2016105,7001
  • 2015105,8001

Revenue over time

As stated on Wikidata, in the currency reported.

Revenue

Michelin revenue by year126.0B EUR in 2025+24% since 2016
010.0B EUR20.0B EUR30.0B EUR2016: 20.9B EUR20.9B EUR20162017: 22.0B EUR22.0B EUR2017+5%2018: 22.0B EUR22.0B EUR2018+0%2019: 24.1B EUR24.1B EUR2019+10%2020: 20.5B EUR20.5B EUR2020−15%2021: 23.8B EUR23.8B EUR2021+16%2022: 28.6B EUR28.6B EUR2022+20%2023: 28.3B EUR28.3B EUR2023−1%2024: 27.2B EUR27.2B EUR2024−4%2025: 26.0B EUR26.0B EUR2025−4%
  • 202526.0B EUR1
  • 202427.2B EUR1
  • 202328.3B EUR1
  • 202228.6B EUR1
  • 202123.8B EUR1
  • 202020.5B EUR1

Net income

Michelin net income by year11.7B EUR in 2025+43% since 2015
01.0B EUR2.0B EUR3.0B EUR2015: 1.2B EUR1.2B EUR20152016: 1.7B EUR1.7B EUR2016+43%2017: 1.7B EUR1.7B EUR2017+2%2018: 1.7B EUR1.7B EUR2018−2%2019: 1.7B EUR1.7B EUR2019+4%2020: 625.0M EUR625.0M EUR2020−64%2021: 1.8B EUR1.8B EUR2021+195%2022: 2.0B EUR2.0B EUR2022+9%2023: 2.0B EUR2.0B EUR2023−1%2025: 1.7B EUR1.7B EUR2025−16%
  • 20251.7B EUR1
  • 20232.0B EUR1
  • 20222.0B EUR1
  • 20211.8B EUR1
  • 2020625.0M EUR1
  • 20191.7B EUR1

Timeline

  1. May 2018New chief executive Yves Chapot becomes CEO1
  2. 1989Went public Listed on Euronext Paris1
  3. May 28, 1889Founded Founded in Clermont-Ferrand1