Apollo Tyres expands its footprint in Sri Lanka

Company Brief

New Delhi, October 14, 2013

Apollo Tyres, a leading tyre major, made further inroads into the Sri Lankan market with the opening up of it first branded retail outlet in the island nation. Christened as 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. This Apollo Zone is located in the up-market area of Galle Road in Colombo, and is operated by Apollo's Business Partners, Ideal Wheels & Tyres (Pvt) Ltd.

Sri Lanka has become one of the fast growing exports market for Apollo Tyres, with sales increasing by more than 50% 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 consumers.

Commenting on 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 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 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.

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 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 span of time. With the opening of the ultramodern Apollo Zone and island wide distributor network, will enable us to consolidate our market share further."

Ideal Wheels & Tyres is lead by Nalin Welgama, Chairman and ex-Captain of Sri Lankan Cricket Team, Aravinda De Silva, the Deputy Chairman. They are the sole distributor of Apollo's tyres in Sri Lanka.

For further information, please contact:

Corporate Brand & Relations

Rohit Sharan

Tel: +91 124 272143

Email: Rohit.Sharan@apollotyres.com