Business / Companies
SA tyre giant sets up shop in Bulawayo
07 Jul 2016 at 01:40hrs | Views
SOUTH African tyre giant Tiger Wheel and Tyres has set up shop in Zimbabwe and will officially open its latest store in Bulawayo next week.
The new look outlet will be the third in the country after the company commissioned the other two stores in Harare in November 2015 and April 2016.
Managing director of Tiger Wheel and Tyre (TWT) Mr Richi Magecha told Business Chronicle that the old company (Tyre Treads) had been a market leader in the country since 1958 but suffered huge losses due to the harsh business environment that prevailed in the hyper-inflationary period.
"By the end of 2012, the company was in dire straits. In January 2013, a new management team took over and have spent the last three-and-a-half years resuscitating the business," said Mr Magecha.
"They restructured the business in 2013 and 2014 to ensure its survival in the market and in 2014 the new management team (Richi Magecha, Atish Naran the finance director and a team of senior directors) entered into negotiations with Tiger Wheel and Tyre South Africa."
He said the negotiations dragged well into 2015 and culminated in the opening of the first store in Harare in November 2015, with the second, also in Harare, being opened in April 2016.
The Bulawayo store will be the third in Zimbabwe.
"TWT Zimbabwe has been able to create significant employment and has invested heavily in Zimbabwe through the opening of the new stores. I can't give an exact figure but it's over $200,000 and we've employed eight new people, bringing the total number of employees to 13," Magecha said.
"We'll continue on our drive for national expansion. We're keen to invest all over Zimbabwe and ensure that our whole country's consumers are able to access the best products at the best possible prices and be safe on our roads."
The re-modelled space boasts a high-tech showroom displaying all available products, and a comfortable hospitality lounge where motorists are invited to relax while their vehicles are taken care of.
The store will have two alignment bays and five fitment bays.
Designed to work as a traditional fitment centre, the store offers its clients easy access at the edge of town off a dual carriageway in Belmont. The range of tyres in stock include, among others, Continental, Yokohama, Hankook, Michelin, BFGoodrich, Pirelli, GT Radial, Sumitomo and Tiger Wheel & TWT's own brand Velocity.
Wheels from impressive brands that can be found at the showrooms include TSW, Racing Hart Concepts, Black Rhino and Turn 1™.
The new look outlet will be the third in the country after the company commissioned the other two stores in Harare in November 2015 and April 2016.
Managing director of Tiger Wheel and Tyre (TWT) Mr Richi Magecha told Business Chronicle that the old company (Tyre Treads) had been a market leader in the country since 1958 but suffered huge losses due to the harsh business environment that prevailed in the hyper-inflationary period.
"By the end of 2012, the company was in dire straits. In January 2013, a new management team took over and have spent the last three-and-a-half years resuscitating the business," said Mr Magecha.
"They restructured the business in 2013 and 2014 to ensure its survival in the market and in 2014 the new management team (Richi Magecha, Atish Naran the finance director and a team of senior directors) entered into negotiations with Tiger Wheel and Tyre South Africa."
He said the negotiations dragged well into 2015 and culminated in the opening of the first store in Harare in November 2015, with the second, also in Harare, being opened in April 2016.
The Bulawayo store will be the third in Zimbabwe.
"TWT Zimbabwe has been able to create significant employment and has invested heavily in Zimbabwe through the opening of the new stores. I can't give an exact figure but it's over $200,000 and we've employed eight new people, bringing the total number of employees to 13," Magecha said.
"We'll continue on our drive for national expansion. We're keen to invest all over Zimbabwe and ensure that our whole country's consumers are able to access the best products at the best possible prices and be safe on our roads."
The re-modelled space boasts a high-tech showroom displaying all available products, and a comfortable hospitality lounge where motorists are invited to relax while their vehicles are taken care of.
The store will have two alignment bays and five fitment bays.
Designed to work as a traditional fitment centre, the store offers its clients easy access at the edge of town off a dual carriageway in Belmont. The range of tyres in stock include, among others, Continental, Yokohama, Hankook, Michelin, BFGoodrich, Pirelli, GT Radial, Sumitomo and Tiger Wheel & TWT's own brand Velocity.
Wheels from impressive brands that can be found at the showrooms include TSW, Racing Hart Concepts, Black Rhino and Turn 1™.
Source - chronicle
