India's Apollo Tyres Ltd. will sell its own-brand tires at 80 Kwik-Fit car service centers throughout the Netherlands. In a statement, the company said that Apollo's entire range of summer and winter tires for passenger cars and SUVs will be offered by Kwik-Fit. Last summer, India's largest tire maker introduced its own-brand tires in Europe.
The markets in Germany, the United Kingdom and Italy will also be getting Apollo-brand tires. In a release, Rob Oudshoorn, CEO of Apollo Vredestein BV, said that Kwik-Fit is a “recognized tire specialist in Europe” that boasts a “vast network.”
Oudshoom added that the “mutually beneficial alliance” with Kwik-Fit in Holland is expected to enable them to reach a larger number of customers. Apollo’s May 2009 acquisition of Dutch tire maker Vredestein Banden BV marks the beginning of its presence in Europe.
In its business year that ended in March, Apollo's net profit nearly quintupled to 6.5 billion rupees ($137.7 million) while it posted sales of 81.2 billion rupees. Apollo said that it seeks to achieve sales of $2 billion by March 2011 and that by 2015, it hopes to rank as one of the top 10 global tire makers with sales of about $5 billion.