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.