Apollo Tyres expands footprint in Sri Lanka

Saturday, 5 October 2013 00:00 -     - {{hitsCtrl.values.hits}}

Apollo Tyres, a leading tyre major, made further inroads into the Sri Lankan market with the opening up of its first branded retail outlet in the country. Christened the ‘Apollo Zone,’ this outlet is designed to provide customers with an enhanced retail experience and a better feel for the brand and products – both passenger as well as commercial vehicle tyres. The Apollo Zone is located in the up-market area of Galle Road in Colombo and is operated by Apollo’s Business Partner, Ideal Wheels & Tyres Ltd. Sri Lanka has become one of the fast growing export markets for Apollo Tyres, with sales increasing by more than 50% year-on-year. Since its introduction to the Sri Lankan market in June 2011, Apollo branded tyres, both passenger and commercial, have been well received by the consumers. Speaking at the inauguration, Satish Sharma, Chief, India Operations, Apollo Tyres Ltd. said: “Sri Lanka is at the cusp of growth, especially the regions which were most affected by the war. Furthermore, there is enough movement of commercial vehicles due to the rapid infrastructure development across the country; this in turn leads to an increased demand for tyres. Branded retail outlets, such as the one which we have opened today in Colombo, will result in higher visibility for the Apollo brand.” The Apollo Zones follow a modern up-market retail format for selling tyres, ensuring ample visual appeal, comfort and convenience to customers, and providing an opportunity to learn about the product’s applications and performance before making the final purchase. They, thus, bridge the gap between tyres being a low involvement category product and the need for expert guidance, to enable customers to buy the right tyres, suited to their vehicle and driving style. “We are very excited to have partnered India’s leading tyre manufacturer and exporter, Apollo Tyres, which is a US$ 2.34 billion company with a huge global presence. We are proud to announce that we have been able to capture a lion share of the truck-bus bias tyre market in our territory within a short period of time. With the opening of the ultramodern Apollo Zone and the island wide distributor network that is in place, we will be able to consolidate our market share still further,” said Nalin Welgama, Chairman, Ideal Wheels & Tyres. Ideal Wheels & Tyres is led by Welgama, together with the former Captain of the Sri Lankan Cricket Team Aravinda De Silva, who is the company’s Deputy Chairman. Ideal Wheels & Tyres is the sole distributor of Apollo’s tyres in Sri Lanka.