Apollo Tyres has made further inroads into the Sri Lankan market with the opening up of its first branded retail outlet in the island nation. Christened 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 and commercial vehicle tyres. Located in the upmarket area of Galle Road in Colombo, the Apollo Zone is operated by the company’s business partner, Ideal Wheels & Tyres (Pvt.) Ltd.
Sri Lanka has become one of the fast growing export markets for Apollo Tyres, with sales increasing by more than 50 per cent year-on-
year. Since its introduction in the Sri Lankan market in June 2011, Apollo branded tyres, both passenger and commercial vehicle, have been well received by the customers.
Addressing the inaugural function, Mr. 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 war. Also, there is enough movement of commercial vehicles due to the rapid infrastructure development across the country; this, in turn, leads to increased demand for tyres. Branded retail outlets such as the one which we have opened today in Colombo will result in an higher visibility for the Apollo brand.”
The Apollo Zones follow a modern upmarket retail format for selling tyres, ensuring ample visual appeal, comfort and convenience to customers, and providing an opportunity to learn about the product applications and performance before making the final purchase. They, thus, bridge the gap between the tyre 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.
Mr. Nalin Welgama, Chairman, Ideal Wheels & Tyres, said: “We are very much excited to have partnered the leading Indian tyre manufacturer and exporter, Apollo Tyres, which is a $2.34 billion company with a huge global presence. We are proud to announce that we have been able to capture a lion’s share of the truck-bus bias tyre market in our territory within a short span of time. The opening of the ultra-modern Apollo Zone and island-wide distributor network will enable us to consolidate our market share further.”
Ideal Wheels & Tyres is headed by Mr. Nalin Welgama and Mr. Aravinda De Silva, the ex-captain of the Sri Lankan cricket team, who is its Deputy Chairman. The company is the sole distributor of Apollo tyres in Sri Lanka.