Michelin buys into online tire retailer
from Modern Tire Dealer
Groupe Michelin has acquired a 40 percent stake in Allopneus SAS, a French internet tire retailer, for $64 million. Michelin's investment comes four months after Goodyear Tire & Rubber Co. announced it would sell tires directly to consumers on goodyear.com. Goodyear is in the midst of rolling out its online system. Based at Aix-en-Provence, Michelin says Allopneus sold some 3 million tires in France in 2014, is seeing growth, and today accounts for 7 percent of the French market.
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