A bootstrapped firm in the city has made a foray into the competitive tyre and tube market.
The launch by Neumex follows two years of research, said K. Ravi Shankar, one of its promoters. The company has partnered with a manufacturing facility in Hyderabad from which many automobile OEMs source tyres, he added.
Briefing the media here on Friday, he said Neumex has introduced a range of tyres and tubes for two-wheelers, three-wheelers, small commercial vehicles, light commercial vehicles and farm equipment segment. On the marketing front, Neumex would sett up stores, starting with Hyderabad and Secunderabad.
The company plans to have eight-nine outlets, a mix of own and franchisee-run, in the twin cities this year and expand to the rest of Telangana, Andhra Pradesh and other south Indian States by 2019. By 2021, it aims to become a pan-India player. The outlets, Mr. Ravi Shankar and management consultant Suprajj Reddy, said would redefine the buying experience of the customers. With regard to the sales targets, they said Neumex has chosen not be in the numbers game, but develop as a brand. The company would operate through a flat distribution system and a profit sharing equation by partnering with dealers and distributors.
