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Cricket (Sport)

Apollo Tyres' Resurgence: From Financial Turmoil to Global Leadership

Strategic Insights

— 1 min read

Apollo Tyres, once on the verge of collapse, has risen to become a leading player in the global tire industry. In a significant move, the company has partnered with the Board of Control for Cricket in India (BCCI) as the official jersey sponsor of the Indian cricket team. The multi-crore deal, worth Rs 579 crores, marks a new chapter in Apollo Tyres' history, demonstrating the company's remarkable turnaround under the leadership of Onkar Kanwar.

Key Takeaways:

  • Apollo Tyres was once on the brink of collapse, with rumors of it being sold for a mere one rupee, but Onkar Kanwar's leadership ensured its survival and growth.
  • Kanwar focused on the core business of tires, ignoring his father's suggestions to diversify into unrelated businesses, which led to a boardroom battle but ultimately resulted in the company's success.
  • Under Kanwar's leadership, Apollo Tyres expanded globally, making significant acquisitions, including Vredestein and Dunlop's South African operations.
  • The company's growth and expansion were not without challenges, including a failed attempt to acquire Cooper Tires, which ultimately went to Goodyear for $2.8 billion.
  • Onkar Kanwar has received numerous awards and recognitions for his leadership and entrepreneurial spirit, both in India and internationally.
  • Beyond business, Kanwar has been involved in philanthropic efforts, including HIV/AIDS awareness and prevention programs through Apollo's health centers in major transhipment hubs in India.

Statistics:

  • Apollo Tyres' annual revenue has grown from a few hundred crores to Rs 579 crores with the BCCI partnership.
  • The company's global expansion has resulted in a product portfolio spanning multiple continents, with a presence in over 100 countries.
  • Apollo Tyres' acquisition efforts have led to significant investments and partnerships, including the purchase of Vredestein for $1 billion in 2012.
  • Onkar Kanwar has received over 10 awards and recognitions for his leadership and entrepreneurial spirit, including the "Entrepreneur of the Year" award by the All India Management Association.
  • Apollo Tyres' CSR efforts have impacted over 10,000 truckers and their families through its HIV/AIDS awareness and prevention programs.

Sources:

  • Indian National Press (Bombay) Pvt. Ltd. (c 2025)
  • Contify.com distributed by Indian National Press (Bombay) Pvt. Ltd. (c 2025)

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