ESSEN, Germany—Hankook Tire Co. Ltd. plans to expand the distribution reach of its Laufenn brand to 70 countries, the company disclosed at Reifen 2016 in Essen.
Hankook did not elaborate on which countries or regions it's targeting, but did say it plan to expand its reach later this year. The South Korean tire maker launched the brand in late 2014 in North America, and introduced it in Europe, Latin America, China, Middle East and South Asia throughout 2015 to the point that it's available in 47 countries.
Laufenn—derived from the German word “laufen,” to run—provides well-rounded products to fit well with a variety of lifestyle needs, Hankook said.
With the expansion to 70 countries, Hankook is projecting sales of the brand will grow 400 percent this year vs. 2015.
“Laufenn has become a strong global brand with accelerated growth in the global automotive market,” said Seung-Hwa Suh, vice chairman and CEO of Hankook Tire. “Laufenn continues to reach our customers by offering the most sensible and reliable value to meet the diverse lifestyle needs with superior technology and driving experience.”