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.’
Tyresoles’ Continual Growth
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 already 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 acceptance. 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 introduced the ‘Tyre Xchange Program,’ a transparent and well-documented 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, significantly 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 the introduction of new mould cure chambers at the Belgaum facility underscore Tyresoles‘ commitment to enhancing product quality and finish.
Tyresoles is strategising to include more retreaders in its network 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 nationwide and enhance the utilisation of its tread rubber production capacity.
Beyond Tyres: Ecoflex Surfaces
In addition to tyre retreading, Tyresoles has diversified into producing rubber flooring through its subsidiary, Ecoflex Surfaces Pvt. Ltd. Utilizing buffing dust from tyre retreading, the company manufactures rubber tiles for various applications, significantly contributing to the group’s annual revenue. The demand for these eco-friendly tiles has surged, especially in health-conscious post-pandemic times, expanding product offerings and sizes.
While focusing predominantly on the domestic market, Ecoflex has also made strides in international markets, collaborating on projects in Turkey and Sri Lanka, demonstrating the global potential of recycled tyre products.
Through innovation and a commitment to sustainability, Tyresoles is leading the way in India’s tyre-retreading industry and contributing to the global push for environmental conservation.
