Tyrepac Aiming for £1.2 million in 2010
It may be barely two years old (having been founded in April 2008), but Tyrepac is vying for position as Asia’s first tyre e-tail portal. Currently operating in Singapore, Malaysia, Hong Kong, China and South Korea, the Singapore Hitwise report for the week ended March 6 ranked Tyrepac fifth on the Shopping and Classified listing, losing out only to the likes of eBay and Amazon. In terms of sales, the target for this year is 6 million Malaysian ringgits (£1.2 million, 1 million euros). This may sound small, but the company is already showing the rapid signs of growth seen in e-tailers from other continents. In its first year Tyrepac generated less than half of this, reporting a turnover of 2.5 million ringgits (£500,000; 400,000 euros).