Kanwar: Europe, branding, retail key to future of Apollo

KOCHI, India (Aug. 11, 2016) — Apollo Tyres Ltd. has just completed a “watershed” financial year, chairman Onkar S Kanwar said at the company's 43rd AGM held recentlly in Kochi, in the southern Indian state of Kerala.

Reviewing the key achievements of the past 12 months up to March 31, the company leader pointed to the launch of Apollo's project to build a new tire plant in Hungary.

“This is the first time any Indian tire company has set up a greenfield outside of our country,” said Mr. Kanwar, adding that he was confident the first tires would roll out from the Hungarian plant by early 2017.

Mr. Kanwar then focused on the importance of branding for the Indian tire maker, citing the online “Rock the Road” campaign to promote its European brand Vredestein.

“Having strong brands and increased product portfolio will help in achieving our objective of profitable and sustainable growth,” the chairman said.

He also pointed to Apollo's efforts to beef up its retail network and expand its reach in the key European markets — as with the acquisition of Germany-based reifencom GmbH.

In India, meanwhile, entry into the two wheeler tires market enhanced Apollo's position as a “full range player,” the chairman continued.

“With a clear strategy laid out for the next two years including the necessary marketing, advertising and R&D push, I am confident that we will soon be amongst the top three players in the two wheeler segment,” he said.

Other highlights over the fiscal year, Mr. Kanwar noted, included the launch of a passenger car tire that can run up to 62,137 miles, a foray into the retreading business and a marketing push for the truck bus radial segment.

“We will continue to invest in our brands, have a sharp focus on technologies and expand into new markets and consolidate and increase existing market shares,” said the Apollo boss.

And looking forward, Mr. Kanwar said: “The economic revival that is underway in India is an opportunity for us to benefit from all our past investments. The global economic scenario, while not as exciting as India's, still affords a smart and agile player like us many windows to further grow our business profitably.”

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This report appeared in European Rubber Journal, a United Kingdom-based sister publication of Tire Business.