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TYRESOLES:
INNOVATING INDIA’S TYRE INDUSTRY WITH RENEWED TYRE SALES
Tyresoles, recognised as India’s largest and most structured tyre retreading company, has made significant inroads into the renewed tyre market with its brand ‘Ecomiles.’ Emerging from its retreading facilities in Belgaum, Karnataka, and Jabalpur, Madhya Pradesh, Ecomiles has swiftly established a foothold, competing against higher-priced new tyres by offering a cost-effective alternative at nearly half the price.
Karun Sanghi, managing director of Tyresoles India Private Limited, shared insights into the development and success of the Ecomiles brand during an interaction at the company’s primary site in Belgaum. Sanghi, who played a pivotal role in founding a national retreading association, is now focused on expanding Ecomiles’ presence across India. The product is al- ready available through over 300 dealers across 11 states.
THE RISE OF RETREAD TYRES
With new tyre prices rising due to increased crude oil and raw materials costs and continued market liquidity challenges, the renewed tyre segment is witnessing growing acceptan- ce. Ecomiles tyres offer fleet owners a cost-effective solution without compromising on performance, mirroring the quality of new tyres. Tyresoles celebrated a significant milestone by selling 100,000 Ecomiles tyres by June last year, showcasing rapid growth since the brand’s inception in 2019.
To further drive the uptake of Ecomiles, Tyresoles has intro- duced the ‘Tyre Xchange Program,’ a transparent and well-do-
cumented process that offers value for used tyres in exchange for Ecomiles tyres. This initiative sources quality casings for retreading and simplifies the fleet replacement process, signi- ficantly reducing tyre replacement downtime.
TARGETING A NICHE MARKET
Aiming for a 3% share of India’s retread market, equivalent to 600,000 tyres annually, Tyresoles is optimistic about reaching its target given the country’s annual new TBR (Truck and Bus Radial) market of approximately 20 million tyres. Continuous investment in machinery and introducing new mould cure chambers at the Belgaum facility underscore Tyresoles’ com- mitment to enhancing product quality and finish.
Tyresoles is strategising to include more retreaders in its ne- twork across India, ensuring they adhere to the company’s stringent quality controls. By partnering with retreaders of significant size, Tyresoles aims to boost Ecomiles sales na- tionwide and enhance the utilisation of its tread rubber pro- duction capacity.
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