Michelin to spice up regional market with popular budget brand, AchillesPOSTED BY Yamin Vong ON 28 January 2019
It’s nice to meet a CEO of a big company who doesn’t promise big gains in market share or other boasts.
We had a media lunch with Pascal Nouvellon, Michelin’s Regional Director, who modestly shared that: “We have more than ten per cent of total market share and our growth is traditionally gaining 0.2 and 0.5 pct annually. And that is the type of organic growth that we project for 2019.”
Actually, he’s being circumspect and doesn’t want to alarm the market because about a week ago, Michelin announced that it had acquired Indonesian tyre maker, PT Multistrada, and its brands including Achilles.
For many car owners who want safety and change tyres without waiting for the tyre to reach the tread-wear indicator level, a budget brand like Achilles is preferable to unknown brands from China. So the addition of the Achilles brand to the Michelin stable is sure to bump up its total market share.
Another bullish factor for Michelin is the establishment of a bonded warehouse in Thailand that will supply the latest high-performance tyres from Europe and the US in two weeks.
“No more waiting for performance car enthusiasts who want the latest of our premium tyres. No need to wait for two, three months to get the latest Michelin tyres,” Nouvellon said.
Wait for more developments in June when Michelin will launch new tyre for the region.
“We’ll be inviting journalists from Malaysia, Indonesia, Singapore and Brunei for this regional launch,” he said before inviting the media guests to toss the soft shell crab Loh Sang prosperitu dish.