Bridgestone looks to expand retail footprint in India

Tyre maker Bridgestone is looking to expand its retail footprint in India by 20-25 per cent this year and is aiming to grow higher than the industry’s growth, a top company executive has said. Bridgestone India at present has over 3,200 dealerships across 1,300 cities and towns in India. Bridgestone India, which is a subsidiary of Japanese multinational tyre manufacturer Bridgestone Corporation, has a well-diversified portfolio, mainly of radial tyres which cater to OEM as well as replacement segments. “Bridgestone India has been increasing its market penetration over the last few years. In 2022, we increased our retail footprint by 11 per cent, expanding to an additional 218 towns. This year we are looking to increase our overall retail network by 20-25 per cent,” Bridgestone India Managing Director Stefano Sanchini said. The company is expanding its distribution network to enhance the coverage across tier-III/IV cities giving it a larger footprint in the aftermarket for automotive tyres that accounts for over 25 million tyres, he said. “We aim to retain our leadership in this segment. The OE market has shown revival last year and is expected to further grow in 2023. Our investments towards increased capacities and capabilities will help us fulfil the market needs,” Sanchini, who has been helming the company’s India operations since the beginning of 2023, said. “We hope to further increase our share in the coming year,” he stated. Noting that the company had a remarkable growth both in volume and revenue during the previous year “with overall revenue up 37 per cent year-on-year while the total volumes growing 17 per cent during the period.”