NEUMEX Tyres Limited launches their new brand NEUMEX and their first range of tyres for five different categories of vehicles that comprise of: Motorcycles, Scooters, 3 Wheelers, SCV and LCV. At the event, an impressive display of more than 30 tyres of these five categories was set up. These patterns looked very energetic and futuristic and conveyed exactly what NEUMEX believes.
L-R: Mr. Ratnakar Rao, Mr. Balaji, Mr. Suprajj Reddy, Mr. Ravi Shankar
NEUMEX is a research and design-centric tyre and tube brand for 2-Wheelers, 3-Wheelers, Small Commercial Vehicles (SCV), Light Commercial Vehicles (LCV) and Farm Equipment Segments. What sets NEUMEX apart is the two years of extensive research and attention to detail that have gone into its products. The unique tread patterns, tyre designs and compounds are made specially for Indian roads and weather conditions. The carefully designed tyres improve fuel efficiency, safety, grip and bring about a significant change in riding and driving experience across vehicle segments. At the onset, NEUMEX will have 65 SKUs, out of which 40 will be of the two-wheeler category, catering to more than 80% of the market demand.
NEUMEX – First range of tyres
The story of NEUMEX started with Mr. Ravi Shankar, a person with more than 35 years of industry experience, forming a core team comprising Mr. Suprajj Reddy, a management expert and consultant back from the US, Mr. Ratnakar Rao, a brand specialist, and Mr. Balaji, an experienced sales professional. This team then partnered with a tyre and tube manufacturing company with more than 25 years of experience, preferred by many Indian Automotive OEMS to source their products.
The team felt that the PCR (Passenger Car Radials), TBR (Truck-Bus Radials) and HCV (Heavy Commercial Vehicle) segments enjoyed higher market focus and attention, both nationally and internationally. Even though tyres have a critical role to play in 2-Wheeler, 3-Wheeler, SCV and LCV segments, the buying experience does not reflect the importance of the product.
NEUMEX has chosen not to be in the number game, but to rise as a brand that would bring the respect, entity and recognition that the 2-Wheeler, 3-Wheeler, SCV and LCV segments deserve. With a highly specialised R&D team, NEUMEX aims to bring product excellence through continuous innovation, matched by an equally innovative market set up.
India has overtaken China to become the world’s No. 1 in the Two & Three-Wheeler Segment, with a sale of more than 180 lakh (18 million) vehicles last year. Correspondingly, about 75 lakhs (7.5 million) tyres and 200 lakh (20 million) tubes are sold every month in the same segment, wherein the organised and unorganised sectors see almost similar sales. Added to this, the double-digit growth in the 2-Wheeler market shown last year just throws light on the immense potential this segment has.
NEUMEX believes that the demand and supply equation in the 2 & 3-Wheeler tyre segment will soon take a turn. Keeping this in mind, NEUMEX brand is conceptualised to have its own stores, accompanied by an efficient distribution network. The brand ethos of a more educative, empowering and entertaining tyre-buying experience will be reflected in these stores, which will educate the discerning buyer and give him/her the luxury of choice, according to his/her riding requirements.
NEUMEX will operate through a very flat distribution system (reduced middlemen and duplication) and a profit-sharing equation by partnering with dealers and distributors. At present, NEUMEX is setting up distributors and aims to have 7 to 8 stores in Hyderabad and Secunderabad by the end of 2018. NEUMEX plans to spread into Andhra Pradesh and Telangana by the end of 2019. By 2021, NEUMEX aims to have a PAN India presence. Usually tyres are sold through three main channels, replacements, OEMs and Exports. NEUMEX will be focusing on replacement market.