Apollo Tyres has launched the premium European brand, Vredestein, to cater to high-end cars and SUVs in India.
Apollo acquired the brand when it bought the Netherlands-based firm in 2009.
"The new range will target high-end cars in the country, it will complement our existing brands. We are targeting a monthly sales of a round 5,000 tires to start off in the after-market replacement segment," said Apollo Tyres’ chief India operations, Satish Sharma.
Total size of the passenger car tire after-market segment in India is around 1.4 million units per month, of which 70,000 is the premium car segment.
Vredestein tires will be distributed through Apollo’s set of partners mostly in the tier I and tier II cities. These premium tires would be sold through multi-branded outlets, including existing Apollo Zones.
Vredestein has a production capacity of around 7 million tires per annum at its plant in Holland. (Southern Africa Treads)