At the recent investors’ presentation, India’s leading tyre maker, JK Tyres, announced that they are launching an ‘eco range of products. These will be rolled out in the Indian as well as global markets and will be aimed at strengthening the company’s global market share and enhancing its business image.
The company recorded about 21% revenue from exports during the quarter ended September 30, 2021. As part of its global expansion strategy, JK Tyres has expanded in South Africa, Australia and Europe in recent times offering an array of products suitable to these regions.
According to the company’s management, JK Tyres is on its way towards realising its goal of global expansion and gaining more market share globally. The company is focused on gaining market share in the export as well as replacement categories. Also, as part of its dealership expansion strategy, JK Tyres has added over 550 dealers across India in the first six months of FY 2021-22. Overall, it has 6,000 strong dealerships and 500 distributors with tie-ups to 870 fleet operators. Internationally, the company has 60 distributors in North and South America, 76 in the Middle East and Southeast Asia regions and 61 in the African continent.
JK Tyre is also working to gain more customers through online mediums. As part of this goal, they have tied up with Amazon and ITC e-Choupal. This will help them reach more customers even in the rural areas of the country.
The company also informed that it is working towards product portfolio premiumisation. JK Tyres will also bring technologically advanced and eco-friendly tyres to suit the current market requirements.
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