Apollo Tyres expands its footprint in Sri Lanka
View(s):India-based Apollo Tyres, a leading tyre major, made further inroads into the Sri Lankan market with the opening up of its first branded retail outlet Apollo Zone at Galle Road, Wellawatte, Apollo’s local business partner, Ideal Wheels and Tyres (Pvt) Ltd said in a media communique.
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.
Sri Lanka has become one of the fastest growing export markets for Apollo Tyres, with sales increasing by more than 50 per cent year-on-year.
The release quoted Satish Sharma, Chief, India Operations, Apollo Tyres Ltd at the opening ceremony of the retail outlet, as saying that “Sri Lanka is at the cusp of growth, especially the regions which were most affected by the war and there was enough movement of commercial vehicles due to the rapid infrastructure development across the country.
Ideal Wheels and Tyres has partnered India’s leading tyre manufacturer and exporter, Apollo Tyres, which is a US$ 2.34 billion company with a huge global presence and it has been able to capture a major share of the truck-bus tyre market in the country within a short period of time, said Nalin Welgama, Chairman, of the company.
‘With the opening of the ultramodern Apollo Zone and the islandwide distributor network that is in place, the company will be able to consolidate its market share still further,” he added.
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