JK Tyre to launch eco products in domestic export market

JK Tyre and Industries Limited is launching an eco range of products in the domestic and exports market, with an aim to expand its global business. In the second quarter (Q2) of FY22, the company registered 21% consolidated revenue of Rs 2,986.66 crore from exports and widened its global reach to Europe, Australia and South Africa. The company said that the management team is committed to implementing the strategy to grow its market presence and gain market share. JK Tyre said that it would enhance its market position across different segments focusing on increasing its volume of all product segments in replacement and export. It is also expanding its distribution channels via brand shopping across the country to gain market share. In the first half (H1) of FY22, the company added more than 550 dealers across India. At present, it has more than 6,000 dealers and 500 distributors with 870 fleet operators, 140 sales, three oil marketing companies and service and stocking points in India. The company is in partnership with Amazon and ITC e-Choupal for rural connect, auto portal partner with Car Dekho and TyrePlex. The company said that it would launch an eco range of products for cars and electric buses, fitted with ultra-low rolling resistance tyres for the domestic and international market. Internationally the company has 76 distributors in the Middle East and Southeast Asia, 61 in Africa and 60 in North and Latin America. In Mexico, it has a distribution network of 97 dealers, 144 third-part dealers and 34 distributors for exports. It added that the company would focus on product portfolio premiumisation as a strategy to bring technology and eco-friendly tyres in line with market requirements. Image Source Also read: CEAT to reinvent tyres with IOS sensors, GPS trackers, AI systems