Tyre major TVS Srichakra Ltd. has brought all its tyres under Eurogrip brand to establish itself as a global bike-tyre specialist and to build and strengthen a global consumer brand.
“We are unifying our brands – TVS Tyres, TVS Eurogrip and Eurogrip – into a single powerful global identity Eurogrip,” said Eurogrip Tyres Executive Vice President, Marketing & Sales, P. Madhavan.
TVS Srichakra has been taking part in most of the international events to create brand awareness. Currently, the products are selling in most of the European markets.
“The brand has evolved. So, we have transited it from TVS Tyres to TVS Eurogrip and to Eurogrip,” he added.
TVS Srichakra is the leading manufacturer and exporter of tyres for two and three wheelers. It has over 250 products, of which 140 are sold in the international markets. About 10-12 products relate to the EV sector.
Eurogrip Tyres Chief Technology Officer V. Sivaramakrishnan said that they are working on rolling out fuel-efficiency tyres for EV and motorbikes. “Our aspiration is to reduce the tyre rolling resistance from the current benchmark by 10% in the next 6-12 months,” he said.
According to him, the sales revenue from new products accounted for 35% during FY24 and it has been growing at an average of 4% for the last four years.
Mr. Madhavan said that the company over the past six years has posted a compound annual growth rate of 9.4% resulting in a market share of 5% through drive distribution, introduction of widest product range, consistent brand building and digitalisation.
Published – October 18, 2024 09:22 pm IST
