Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Apollo Tyres Ltd brings in premium tyre brand Vredestein to India

Posted On: 2021-10-23 22:09:12 (Time Zone: IST)


Strengthening its product offering further in the Indian market, leading tyre maker, Apollo Tyres Ltd, launched the premium European brand, Vredestein in India. The Vredestein brand of tyres will be manufactured at the state-of-the-art facilities in India, and will cater to the premium and luxury segment in passenger cars, while the two-wheeler tyres from the brand would cater to the growing superbiking segment in India.

Vredestein brand, known for its designer and high-quality tyres, is entering India with tyres sizes of 15" to 20" in the passenger vehicle segment. While Vredestein Ultrac Vorti would cater to the premium luxury sedans like Mercedes, BMW, Audi, Land Rover and Volvo, Vredestein Ultrac would cater to the premium hatchback and sedans like Honda City, Maruti Suzuki Ciaz and Baleno. The two-wheeler tyres from Vredestein, Centauro NS and ST, will cater to the entire sport touring and super sports range of motorcycles like BMW, Ducati, Aprilia, Triumph, Kawasaki, Suzuki, Honda and Yamaha.

Commenting on the launch of Vredestein brand in India, Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres Ltd said, "India has been witnessing a high growth in the premium and luxury segment of cars, and also in the superbiking segment. This has prompted us to introduce this 100+ years old brand, Vredestein for the Indian customers. Vredestein is synonymous with premium styling and ultra high performance, which are the two most important factors considered by owners of luxury cars and superbikes. I am confident that, with Vredestein, a domestic international brand, we will become the dominant player in the luxury segment in India."

The passenger vehicle range from Vredestein carries a signature touch of renowned automobile designer, Giorgetto Giugiaro, while the two-wheeler range has been designed by the famous Italian design house, Frascoli Design. The tyres being introduced in the Indian market, has been tested across major tracks in Europe and India, and has also achieved podium positions in various automotive magazine tests in Europe and the US.

Speaking at the launch, Satish Sharma, President, Asia Pacific, Middle East and Africa (APMEA), Apollo Tyres Ltd said "The introduction of Vredestein brand will definitely strengthen our offerings in the passenger vehicle and two-wheeler segments in India. The import restrictions on tyres imposed by the Indian Govt recently, had made a strong business case for us to bring in Vredestein brand of tyres into India for the high-end cars and motorcycles. Our R&D Teams have customised these tyres to provide the best safety and driving experience for the Indian conditions."

Apollo Tyres will use its existing network of business partners, especially premium tier I counters, to sell the Vredestein brand of tyres. Going forward, the company may consider setting up specialist counters for the Vredestein brand. As a new entrant into India, Vredestein has a distinct advantage of access to the trained and robust sales and service network of Apollo Tyres across the country.

Vredestein has been operating in the replacement market primarily in Europe and the US markets. Recently, the company started supplying Vredestein tyres to European OEs like Audi, VW, SEAT and Ford. Similarly in India, Apollo Tyres would be selling Vredestein brand of tyres in the replacement market initially; having said that, the company would leverage its association with global OEMs to have Vredestein ultra high performance tyres as OE fitment.

Vredestein has a rich heritage in the world of tyres. Established in the Netherlands, in 1909, company has acquired increasing international recognition over the decades as a premium tyre brand. Today, Vredestein is a distinctive tyre brand, thanks to its ongoing focus on innovation, investments in high-performance technology and stunning designs. In 2009, Vredestein was acquired by Apollo Tyres Ltd.

Collaboration with Giugiaro and Frascoli Design

In the late 90s, Vredestein teamed up with renowned Italian automotive designer, Giorgetto Giugiaro, who was nominated as the 'Car Designer of the Century' by global automotive media in 1999, for its passenger car tyres. This signature of an Italian Designer led to the recognition of Vredestein as designer tyres, which is still its unique selling proposition, along with superior quality. Similarly, the company teamed up with the famous Frascoli Design few years back, for its two-wheeler tyres.

Shares of Apollo Tyres Limited was last trading in BSE at Rs. 221.15 as compared to the previous close of Rs. 226.10. The total number of shares traded during the day was 186499 in over 2778 trades.

The stock hit an intraday high of Rs. 229.95 and intraday low of 218.70. The net turnover during the day was Rs. 41643485.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

BHEL wins CII-Exim Bank Platinum Awards for Business Excellence

V-Mart Retail Ltd opens one new store in Haryana

Vidli Restaurants Limited board approves rights issue at Rs. 10

Innovators Facade Systems Limited receives order from DLF Group

Infosys collaborates with One of Europe's Greenest Data Centers to accelerate Daimler's transition to Sustainable Mobility

Dharamsi Morarji Chemical Company Ltd to list in NSE from Dec 1, 2021

Fitch affirms Axis Bank at 'BB+', Outlook Negative

TCS helps AGL embrace New AI-powered Operating Model to transform Customer Experience

Dhruv Consultancy Services Limited receives LOA for project worth Rs. 5.04 crore

Arvind Ltd update on Ankur unit

Lupin launches Sciflix a mobile-friendly learning platform for post graduate students specializing in pulmonology

ICRA-assigned Credit Rating for 100.00 crore bank lines of Rane Holdings Limited

ITI Limited installs 100 KW Captive Rooftop Solar Power Plant in Lucknow, Uttar Pradesh

GIC to invest in IRB Infrastructure Developers Limited

Vishvprabha Ventures Ltd Fixes Record Date for Rights Issue of equity shares

Earum Pharmaceuticals Ltd fixes Record Date for Stock Split

ICRA upgrades credit rating of DLF Limited to [ICRA] AA- with Stable outlook

IIFL Home Finance Ltd disbursed loans over Rs. 2500crore, as on 30 September, 2021

Kotak Mahindra Bank reaches One Million FASTags Milestone

Accor renews partnership with IndiGo's 6E Rewards program to offer accelerated travel and stay benefits

Rossari Biotech Ltd. appoints Ketan Sablok as the Group Chief Financial Officer

Vedanta's Sesa Goa Iron Ore Business pledges to become carbon neutral by 2050

CL Educate liquidates third land parcel this year

Reliance Capital Ltd welcomes RBI move to resolve company's debt through IBC

Knowledge Marine & Engineering Works Ltd receives LoA from Vizag Port Trust for patrol boat

Patel Integrated Logistics Ltd board to consider rights shares allotment on Dec 2, 2021

Tatva Chintan Pharma Chem Ltd acquires land at Dahej-III GIDC Estate, Bharuch

Intec Capital Ltd accepts OTS proposal from The Bank of Maharashtra

Sayaji Hotels Ltd arm signs 8 new properties

Coal India Ltd board declares interim dividend of Rs. 9

BSL Ltd updates on credit rating

Ratnamani Metals & Tubes Ltd receives new Domestic Orders of Rs.297.87 Crores

TCS Named a Leader in IDC MarketScape for Worldwide Managed Multicloud Services

James Warren Tea Limited board approves buyback at Rs. 295 through tender offer

Goeld frozen Foods starts operations in Bhopal

Happiest Minds wins Platinum and Gold Awards for its 2021 Annual Report from LACP

Reliance Industries Ltd denies bid for BT

TTK Prestige Ltd fixes Dec 15, 2021 as record date for stock split

National Fittings Ltd announces redemption of preference shares

LIC gets RBI nod for increasing stake in Kotak Mahindra Bank to 9.99%

Brooks Steriscience Ltd gets marketing authorizaiton in Germany for Meropenem

CRISIL reaffirms rating of Ruchira Papers Ltd

Man Industries India Ltd receives news orders of Rs. 325 crores

Indian Sucrose Ltd starts sugar crushing for season 2021-22

Capri Global Capital Limited partners with State Bank of India for Co-Lending to MSMEs

Genesys International Corporation Limited to launch India 3D Maps Program

Asian Paints Ltd inks MoU for expansion project at an outlay of Rs. 960 crores

Shakti Pumps India Limited to form subsidiary for business in EV Motor

IndusInd Bank Ltd updates on resignations at Bharat Financial Inclusion Ltd

MICL Group to jointly develop Luxurious Residential Project at Tardeo, Mumbai


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020