Bridgestone To Strengthen Its Retail Footprint In India
Tyre maker Bridgestone seeks to boost its retail footprint in the country by 20-25% this year and intends to grow higher than the industry's growth, a top company executive has said. Bridgestone India at present has over 3,200 dealerships across 1,300 cities and towns in India. Bridgestone India, which is a subsidiary of Japanese multinational tyre manufacturer Bridgestone Corporation, has a well-diversified portfolio, mainly of radial tyres which cater to OEM as well as replacement segments.
"Bridgestone India has been increasing its market penetration over the last few years. In 2022, we increased our retail footprint by 11%, expanding to an additional 218 towns. This year we are looking to increase our overall retail network by 20-25%," Bridgestone India Managing Director Stefano Sanchini told PTI in an interaction. The company is expanding its distribution network to enhance the coverage across tier-III/IV cities giving it a larger footprint in the aftermarket for automotive tyres that accounts for over 25 million tyres, he said.
"We aim to retain our leadership in this segment. The OE market has shown revival last year and is expected to further grow in 2023. Our investments towards increased capacities and capabilities will help us fulfil the market needs," Sanchini said.