Pirelli
Pirelli & C. S.p.A. is an Italian multinational tyre manufacturer based in the city of Milan, Italy. The company, which has been listed on the Borsa Italiana since 1922, is the 5th-largest tyre manufacturer, and is focused on the consumer production of tyres for cars, motorcycles and bicycles. It is present in Europe, the Asia-Pacific, Latin America, North America, and the post-Soviet states, operating commercially in over 160 countries. It has 19 manufacturing sites, across 13 countries, and a network of around 14,600 distributors and retailers.
Pirelli has been sponsoring sport competitions since 1907 and is the exclusive tyre partner and supplier for the Grand-Am Rolex Sports Car Series for 2008–2010, FIA Formula One World Championship for 2011–present and for the FIM World Superbike Championship. Pirelli's headquarters are located in Milan's Bicocca district. Pirelli is now solely a tyre manufacturing company. In the past, it had been involved in fashion and operated in renewable energy and sustainable mobility.
On 4 October 2017, Pirelli returned to the Milan Stock Exchange after focusing its business on pure consumer products and related services, and separating the business of industrial tyre. Pirelli's eponymous calendar has been published since 1964, and has featured the contributions of many famous photographers over the years such as Helmut Newton, Steve McCurry, Peter Lindbergh, Richard Avedon, Bruce Weber, Herb Rits, and Annie Leibovitz.
In 2015, China National Chemical Corp. Ltd. took controlling interest of Pirelli; with the Chinese state-owned company agreeing to maintain the tyre company's ownership structure until 2023. In April 2025, the Board of Directors determined that ChemChina control over Pirelli had ended.
History
Founded in Milan in 1872 by Giovanni Battista Pirelli, the company initially specialised in rubber and derivative processes and also made scuba diving rebreathers and dry suits used by Italian frogmen during World War II. Thereafter, Pirelli's activities were primarily focused on the production of tyre and cables. In 2005, Pirelli sold its cable division to Goldman Sachs, which changed the new group's name to Prysmian. In the 1950s, Alberto Pirelli commissioned the building of a skyscraper, Pirelli Tower, in the same Milanese area that housed the very first Pirelli factory during the 19th century.In 1974, Pirelli invented the "wide radial tyre", upon a request from the Lancia rally racing team for a tyre strong enough to withstand the power of the new Lancia Stratos. At that time, racing tyres were either slick tyres made with the cross ply technique, or radial tyres, which were too narrow to withstand the Stratos' power and did not provide enough grip. Both were unusable for the Lancia Stratos, as the radials were destroyed within 10 km, and the slicks too stiff. Lancia asked Pirelli for a solution, and in 1975 Pirelli created a wide tyre with a reduced sidewall height like a slick but with a radial structure. Subsequently, Porsche started using the same tyres with the Porsche 911 Turbo. In 1988, Pirelli acquired the Armstrong Rubber Company, which was headquartered in New Haven, Connecticut, US for $190 million.
In 2000, Pirelli sold its terrestrial fibre optic cables business to Cisco and its optical components operations to Corning, for 5 billion euro. It invested, through Olimpia, part of the resulting liquidity to become a majority shareholder in Telecom Italia in 2001, maintaining this position until 2007. In 2002 the company started a range of Pirelli-branded clothing, watches and eyewear. In 2005, Pirelli sold its Cables, Energy Systems and Telecommunications assets to Goldman Sachs and the newly formed company was named Prysmian. In the same year, 2005, Pirelli opened its first tyre production plant in Shandong province, China. This was the beginning of the group's production complex in the country. In 2006, Pirelli chose Slatina for its first tyre production plant in Romania, expanding the facility in 2011.
In 2010, Pirelli completed its conversion to a pure tyre company by selling Pirelli Broadband Solutions and spinning off the real estate assets of Pirelli Re. Fondazione Pirelli was established in the same year to safeguard and celebrate the company's past and to promote business culture as an integral part of Italy's national cultural assets. In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina, together with Camfin and LTI, for the company. The transaction was completed and the company was delisted in November 2015.
In May 2017, it was announced that Pirelli returns to the world of cycling with a new road cycling tyre range, P ZERO Velo. In September 2017, the company announced its intentions to sell up to 40 per cent of its equity capital in an initial public offering as it plans to return to the Milan stock exchange in October.
In March 2019 Pirelli announced a new range of mountain biking tyres, called Scorpion. In 2021, Pirelli introduced 18-inch tyres for the new aerodynamic and technical changes for 2022 in Formula One. As of May 2024, Pirelli has a market capitalisation of $6.69 billion. On May 29, 2024 Silk Road Fund began the total sale of its shareholding.
On May 30, 2024, the share price fell as a result of the sale of the entire stake of Silk Road Fund. While Tronchetti Provera's Camfin strengthened its shareholding together with other Italian investors.
In April 2025, the Board of Directors, in compliance with the Italian government Decreto del Presidente del Consiglio dei Ministri 4 agosto ''2023'' and the IFRS 10 international accounting principle, determined that Sinochem's control over Pirelli had ended.
Business areas
- Pirelli is focused on the consumer business, producing tyres for cars, motorcycles, and bicycles.
Car products range
- P ZERO: Tyres for ultra-high performance cars. P ZERO branding is used for dry weather Formula One tyres, along with other racing tyres.
- Cinturato: Tyres for high-end cars. Cinturato branding is used for wet-weather Formula One tyres.
- Sottozero: Winter tyres for high-end cars. Sottozero branding is used for WRC tyres.
- Carrier: Tyres for vans.
- Ice: Tyres designed for extremely low temperatures.
- Scorpion: Tyres for SUV and cross-over.
Moto products range
- Diablo: Road and track tyres.
- Angel: Street and commuting tyres.
- Scorpion: Road and off-road tyres.
Velo products range
- P ZERO Velo: Road racing.
- Cycl-e: Urban and electric.
- Scorpion: Mountain bike.
- Cinturato: Gravel.
Corporate affairs
Major shareholders
Pirelli shareholders as of January 2025:| Shareholder | Stake % |
| Marco Polo International Italy | 37.0% |
| Institutional Investors | 31.6% |
| Camfin S.p.A. | 26.4% |
| Retail | 5.0% |
Board of directors
The list of Pirelli Board of Directors as of April 2023:| Position | Name |
| Chairman | Li Fanrong |
| Executive Vice Chairman and CEO | Marco Tronchetti Provera |
| Deputy-CEO | Giorgio Luca Bruno |
| Director | Yang Shihao |
| Director | Wang Feng |
| Independent Director | Paola Boromei |
| Independent Director | Domenico De Sole |
| Independent Director | Roberto Diacetti |
| Independent Director | Fan Xiaohua |
| Independent Director | Giovanni Lo Storto |
| Independent Director | Marisa Pappalardo |
| Independent Director | Tao Haisu |
| Director | Giovanni Tronchetti Provera |
| Independent Director | Wei Yintao |
| Director | Zhang Haitao |
Marketing
The Pirelli Calendar is published annually, featuring actresses and fashion models. The calendar also features the work of fashion photographers, including Richard Avedon, Peter Lindbergh, Annie Leibovitz, and Patrick Demarchelier. The Pirelli Internetional Award is given annually for the best international multimedia involving the communication of science and technology conducted entirely on the Internet. "Power is nothing without control" was the well-known slogan of Pirelli Tyre Company, and was featured in numerous television and print advertisements. Pirelli is the long-serving main sponsor of Italian football club Inter Milan, having sponsored the Italian team since the 1995–96 season.Sponsorship
Football
Pirelli has a history of sponsoring football teams. Pirelli is well known for its long-term primary sponsorship of the Italian football club Inter Milan between 1995 and 2021. Pirelli previously appeared as a sponsor on the shirts of the Maltese football club Valletta for a short time. In reference to Brazil striker Ronaldo’s usual goal celebration of both arms outstretched, Pirelli ran a 1998 commercial in which he replaced the figure of Christ from the Christ the Redeemer statue that towers over his home city of Rio de Janeiro while in an Inter Milan strip. It was controversial with the Catholic Church.Pirelli's sponsorship of football teams is not limited to Europe, South America is a key market and as a result, successful clubs have also been sponsored by the tyre company. The Brazilian team Palmeiras, Uruguayan team Peñarol and Argentinian side Vélez Sársfield all had Pirelli as a shirt sponsor. When English football club Burton Albion Football Club built their new stadium in 2005, Pirelli became the title sponsor of the new ground. This was because the new stadium, named Pirelli Stadium lies next to the Pirelli factory in Burton-upon-Trent, Staffordshire, England. In 2009, Pirelli became the title sponsor of the Chinese Super League, China's top-tier football league. In 2012, the company became a major sponsor of the Russian Cup.