South Korean tyre company Hankook Tire group will fully incorporate Australia’s largest tyre dealer, JAX Tyres, into its group after the successful its acquisition of the company from its Chairman Fred Hurrell and other shareholders.
Following through the acquisition, Hankook Tire group plans to grow into a global top-tier company by expanding customer relationships and strengthening its competitiveness in the business-to-consumer (B2C) distribution sector.The group also plans to extendinto the business-to-business (B2B) characteristics of the tyre manufacturing industry.
Hankook Tire will also strengthen its distribution competitiveness from Asia and across the global market by applying an advanced franchise system to its distribution network.
The group will expand its growth model not only from the hardware-oriented business such as a plant establishment but also the software’s growth including distribution channels and premium services.
JAX Tyres offers great customer service and competitive prices as a tyre retail and distribution franchise. The company opened its first store in Sydney, Australia in 1949 and currently operates 83 franchise stores. Unlike ordinary tyre stores, all JAX Tyres stores are transparently open similar to a luxury car dealership. The company differentiated themselves with the modern-style exterior and the customer-friendly interior of their stores.
JAX Tyres’ real-time online tyre price updates have also become the standard price for tyres in Australia. In-store tyre prices are kept the same as indicated online. The customers can also use the website’s online simulation feature to visualise how the tyres will look like when mounted on the vehicle. Customers are also able to check and estimate tyre prices online and choose any offline store where they want to make the purchase.With these endeavours of price transparency, the online tyre store has maintained its top position in terms of website page views in Australia.
Seung Hwa Suh, Vice Chairman and CEO of Hankook Tire said, “We will solidify the position as the global top tier brand by extending the role of holding company.” He added, “We will concentrate more on enhancing global competitiveness by diversifying the inorganic business in the automotive sector based on organic growth of tyre.”