CLERMONT-FERRAND, France—Michelin has acquired a 40 percent stake in Allopneus S.A.S., a French internet tire retailer, for about $64 million.
Based in Aix-en-Provence, Michelin said Allopneus sold some 3 million tires in France in 2014 and now accounts for 7 percent of the French market.
According to Michelin, one in two motorists intending to buy new tires seeks detailed information in the weeks preceding the purchase.
“In France, three out of four consumers seek this information online and currently 13 percent of them will make their actual purchase online,” it added.
By building a strategic partnership with Allopneus, Michelin said it aims to expand its online range and extend its commercial presence.
“The Michelin Group will become more adept at dealing with the different modes of online and offline searches and purchases, thereby pursuing its strategy to improve the services offered to customers,” the firm said.
Michelin CEO Jean-Dominique Senard said that the growth of the company meant they understood the market in detail, “so as to anticipate and satisfy the needs of our customers.”
This shareholding is subject to validation from the French Competition Authority.