Michelin, the global leader in tyre manufacturing, has made a significant move in expanding its e-commerce foothold by acquiring Tyroola, Australia's thriving online tyre retailer. This acquisition marks Michelin's strategic foray into Australia’s burgeoning online tyre market and its intentions to solidify its presence in the Asia Pacific region.
With this acquisition, Michelin aims to bolster its understanding of customer behavior and enhance the overall purchasing experience, spanning from online research to tyre fitting services. Tyroola, known as Australia’s third largest online player in tyres and fitting services, boasts an extensive inventory of over 52,000 SKUs encompassing various brands and models.
Tyroola will retain its brand identity and operational framework post-acquisition. Customers can expect the same seamless services and access to an expansive network of more than 700 fitting centres across Australia and New Zealand.
The burgeoning trend of online tyre purchases has become a pivotal aspect for a majority of motorists, with two out of three individuals engaging in online information seeking preceding their tyre acquisitions. This move aligns with the evolution of consumer behavior, with an increasing number opting for online purchases, a trajectory expected to intensify in the coming years.
Andreas Voss, CEO of Tyroola, acknowledged the company's remarkable growth since its inception in 2015, having sold over 650,000 tyres to more than 120,000 customers, securing a notable 16% market share in the Australian online tyre sales segment.
Lorraine Frega, Executive Vice-President of Business Line Services and Solutions at Michelin, expressed enthusiasm about Tyroola joining Michelin's suite of eRetail companies. Frega emphasized the strategic importance of this investment, expanding Michelin's eRetail footprint to encompass Australia as the seventh country following previous investments in Canada, Egypt, France, Italy, South Africa, and the UK.
This acquisition underscores Michelin's commitment to the Asia Pacific region and specifically to Australia, signifying a significant investment in the local market and affirming its dedication to serving the region's populace.
Michelin’s acquisition of Tyroola signifies a pivotal step in the evolution of online tyre retail in Australia, blending Michelin's global expertise with Tyroola's local market dominance, poised to redefine the landscape of the online tyre industry.
