* Redefines the auto aftermarket experience by offering an online platform for doorstep fitment of tyres, batteries, and alloy wheels by bridging the gap between online convenience and offline product sales/fitment.
* India’s premier and most extensive auto aftermarket doorstep fitment platform, successfully completed over 150,000 doorstep fitments across six cities.
* Stellar rating of 4.9 stars on Google, based on more than 4,000 reviews, TyresnMore has established a strong reputation for quality and customer satisfaction.
* Demonstrating robust growth, the company has achieved a Compound Annual Growth Rate (CAGR) of 54%, tripling its revenue over the past three years.
CEAT Ltd arm Tyresnmore.com, the country's leading e-commerce platform specializing in aftersales automotive solutions will provide top-notch service right at the customers’ doorstep. CEAT Ltd is the flagship company of RPG Group, one of India’s largest conglomerates.
Tyresnmore.com has revolutionized the automotive industry by offering end-to-end solutions, from product discovery to doorstep fitment for both four-wheelers and two-wheelers. With a strong presence in key cities such as Delhi-NCR, Mumbai, Hyderabad, Bangalore, Pune, and Chennai, Tyresnmore.com addresses critical pain points in the offline tyre replacement market. These include transparent pricing, product availability, consistent quality, and a convenient process, all facilitated through fully equipped mobile units and trained personnel.
Anant Goenka, Member - Group Management Board, RPG Group, said, “Tyresnmore.com has demonstrated remarkable growth and innovation in the auto aftermarket e-commerce sector, which is poised for rapid expansion in India. We are impressed by company’s customer-centric approach, operational excellence, and technological capabilities. We are confident that Tyresnmore.com will continue to lead the way in transforming the auto aftermarket experience for Indian consumers.”
Arnab Banerjee, CEO & MD, CEAT Ltd, “We at CEAT, are at the helm this exciting phase of expansion and innovation. Our strategic acquisition of Tyresnmore.com aligns seamlessly with our vision to provide cutting-edge solutions to the evolving needs of the automotive market. With this integration, we look forward to setting new standards, enhancing accessibility, and delivering exceptional value to our customers across the nation.”
Post-pandemic, Tyresnmore.com has demonstrated an impressive year-on-year growth of about 50%, with a significant focus on the business-to-consumer (B2C) segment, contributing to a notable 150 basis points increase in margins. The company has successfully fitted over 150,000 tyres at doorsteps, catering to more than 75,000 individual retail customers and 25,000 enterprise vehicles. The platform has witnessed a remarkable fivefold surge in website traffic, attracting over 500,000 monthly unique visitors.
Rajeshwar Wadhera, CEO of Tyresnmore.com, said, “The acquisition by CEAT is not just a validation of our efforts, but also an opportunity for us to leverage their extensive resources and expertise. We can now shift our focus towards accelerating our ambition - to become India’s premier automotive aftercare e-retailer. We are confident that this strategic alliance will help us consolidate our market leadership and deliver superior value to our customers at their convenience.”
The acquisition of Tyresnmore.com by CEAT in August 2023 is a landmark deal in the auto aftermarket e-commerce sector, which is expected to grow at a compound annual growth rate (CAGR) of 15% by 2025. By joining hands with CEAT, Tyresnmore.com will be leveraging the CEAT’s vast experience, network, and resources to scale up its operations and reach new markets. Tyresnmore.com and CEAT are set to redefine the future of mobility in India.
CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has a strong presence in global markets. CEAT produces more than 41 million high-performance tyres, catering to various segments like 2-3 Wheelers, Passenger and Utility Vehicles, Commercial Vehicles and Off-Highway Vehicles.
No comments:
Post a Comment