Marangoni GRP Private Limited (MGPL), the JV company active in the commercial vehicle retreading sector in India, has signed up its first RINGTREAD Franchisee at Vijaypur, Karnataka. The franchisee, Bhagyavanti Tyres, will go live in Q2, 2017 and will cover five Karnataka districts – Vijaypur, Dharwad, Belgaum, Gulbarga and Bagalkot. Fleets in these markets will have access to Marangoni’s unique technology – RINGTREAD – the splice-less retread.
Speaking on the occasion, Dino Maggioni– Group CEO, Marangoni added, “Post testing our ‘concept’ at the pilot shop over the last 12 months at Indore, we are now ready to expand our franchise footprint pan India. Feedback from fleets at Indore has been extremely encouraging and has helped establish RINGTREAD as the clear technology leader. We are hopeful that the rapidly expanding highway network, the pace of radialisation and continuing economic reforms will have a positive effect on the Indian Logistics sector improving the health of trucking fleets. Marangoni GRP hopes to play a leading role in helping the latter lower their tyre costs through its unique retreading solutions”
Harsh Gandhi, Director, MGPL added, “Over the last one year, the JV has focused on understanding the Indian consumer’s needs better and testing our products. We have also focused on refining our franchise model with the aim to make it the leading retreading franchise system in India. By becoming a MGPL franchisee, we believe new entrepreneurs and independent retreaders desiring to upgrade their existing stores, have a good opportunity to build a long term, profitable business in a sunrise sector.”
Bhagyavanti Tyres is founded by two young entrepreneurs, both in their early 30s – Harsh Bagali and Anil Patil. In addition to the Marangoni GRP retreading facility, their outlet will also offer a truck alignment facility using the latest computerised equipment. It will be the first such facility in these five districts of Karnataka.