CEAT sticks with Sri Lanka retail chain upgrade plan opening new flagship store in Madampe

Monday, 12 June 2023 01:09 - - {{hitsCtrl.values.hits}}

From left: CEAT Kelani Managing Director Ravi Dadlani and Asanka Tyre House proprietor K.B.I. Asanka Fernando at the opening of the new CEAT flagship store at Madampe

CEAT Kelani Holdings has invested in a second Company Invested Dealer Operated (CIDO) outlet in Sri Lanka, persevering with its plan to establish CEAT flagship stores around the island to create exclusive spaces for the brand.

The new CEAT flagship store was formally declared open recently at Asanka Tyre House, Madampe, located at Irattakulama on the Chilaw – Colombo main road.

The CEAT CIDO outlets are part of a three-year distribution channel expansion strategy designed to drive brand exclusivity, visibility and premiumisation and enhance customer experience at partner outlets in tandem with product improvements.

CEAT Kelani provided the new flagship store with the elements of their modern interior design, the lighting, furniture, tyre display and sample racks, a customer lounge area with sofa and television, pylon signage for visibility from a distance and illuminated external and internal brand signage.

CEAT Kelani Managing Director Ravi Dadlani said: “The economic downturn has resulted in a significant drop in demand for new tyres, but as the largest supplier of Sri Lanka’s tyre requirements, CEAT remains steadfast in its commitment to the market. This includes our obligation to consistently enhance the customer experience by upgrading the retail network, while at the same time helping our key dealers to maintain sales volumes.”

CEAT’s emergence as the top brand in Sri Lanka’s tyre sector is the result of substantial investments over several years that have seen not just exponential increases in volumes but expansion of the product range, the deployment of new technology and quantum improvements in quality. The Company’s new retail concepts are designed to ensure the customer experience keeps pace with the brand’s growth, Mr Dadlani added.

The CEAT brand accounts for market shares in Sri Lanka of 48% in the Radial segment, 80% in the Truck category, 84%Light Truck tyre category, 51% in the Three-Wheeler tyre segment, 36% in the Motorcycle tyre segment and 72% in the Agricultural vehicle tyre category. CEAT Sri Lanka exports about 20% of its production to 16 countries in South Asia, the Middle East, Africa and the Far East.