Michelin has acquired Tyroola, Australia’s third-largest online tyre and fitting service provider.
Tyroola will continue to operate under its existing brand, maintaining its foothold in the market, the company said, with its inventory of over 52,000 SKUs available online and offering access to over 700 fitting centres in Australia and New Zealand for tyre fittings.
According to Michelin, nearly two-thirds of drivers rely on online information before making new tyre purchases – one indication of why Tyroola was a target for acquisition – and the company added a significant share of these people complete their purchase online – a trend which is expected to strengthen.
“Michelin is excited that Tyroola joins the existing eRetail companies of the Michelin Group within the Business Direction for Distribution, Services & Solutions” said Lorraine Frega, Michelin Executive Vice-President of Business Line Services and Solutions. “This strategic investment broadens Michelin’s eRetail footprint. In fact, Australia represents the seventh country that we invest in after Canada, Egypt, France, Italy, South Africa and the UK.”
Andrea Voss, Tyroola’s CEO, added: “Tyroola has experienced strong growth since its inception in 2015. The company has sold over 650,000 tyres to more than 120,000 customers and currently accounts for 16 per cent of the Australian online tyre sales market to private individuals.”
Source: Motor Trader e-Magazine (February 2024)
6 March 2024