The tie-up with Al-Jomaih Tyres will focus on truck-bus radial and passenger car tyre market
Apollo Tyres Ltd., a USD 2.5 billion tyre major, announced its entry into Saudi Arabia through a tie-up with Al-Jomaih Tyres Company Ltd., the exclusive distributors for the region. Apollo Tyres would be focusing on the large and growing truck-bus radial and passenger car tyre market, aiming to capture a sizeable market share, in each of the segments, in the next couple of years.
Commenting on this development, Shubhro Ghosh, Group Head, ASEAN, Middle East and Africa, Apollo Tyres Ltd., said: “The entry into the Kingdom of Saudi Arabia (KSA) is the culmination of long-term product planning and development programme.”
“We are now ready with products suited to cater to the Saudi Arabia market, which is the largest and most important replacement tyre market in the Middle East region, through our dedicated team of sales and service professionals, and a very able business partner in Al-Jomaih Tyres,” he added. “Saudi Arabia has a market potential of approximately 22 million tyres, and we have set a very aggressive target for ourselves, of selling nearly 800,000 tyres per annum, including both commercial vehicle and passenger vehicle tyres, within the next five years,” Ghosh said.
Apollo Tyres is the official global tyre partner for the world’s leading football club, Manchester United. Shubhro further added: “We believe that this global partnership will further help us position our brand and the products in the minds of consumers across Saudi Arabia, and we look forward to working with Al-Jomaih Tyres to help further engage with Manchester United fan base here.”
Commenting on the collaboration with Apollo Tyres, Sheikh Abdullah Al-Jomaih, CEO, Al-Jomaih Tyres, said: “We are highly impressed with the quality and performance reputation of the tyres made by Apollo Tyres.”
“We have noticed that the premium Tier II market in Saudi Arabia has been expanding at a fast pace and Apollo Tyres meets the need of local customers who are seeking quality products at competitive prices,” he added. The tyres sold in Saudi Arabia would be customised to meet the local market requirements and would be covered under a five-year warranty from the date of manufacturing.
Apollo Tyres had set up its hub for the Middle East and Africa region in Dubai in the year 2011, and has since managed to expand its presence rapidly in the entire region with quality products.