Overview
Tire Rack, established in 1979 in South Bend, Indiana by Peter Veldman, is a key player in the automotive retail sector, specializing in tires, wheels, and other car accessories. Acquired by Discount Tire in 2021, Tire Rack operates independently, maintaining its brand identity. Known for excellent customer service and tire expertise, the company offers online purchases with local installation options and supports 24 major tire brands through a network of ten warehouses across nine states.
Leadership Team
- Mike Joines, President: Leading since 2014, pivotal in strategic decision-making.
- Matthew Edmonds, Executive Vice President: Central to executive leadership.
- Brendan Bridgford, SVP Installation Solutions: Key player in installation strategies.
- Danny Eggleston, VP of Software Development: Oversees technological advancements.
- Dawn Reitman, VP of Purchasing and Program Compliance: Focuses on procurement and compliance.
- Jeff Joines, VP of Distribution and Logistics: Ensures efficient logistics management.
- Mark Burkey, VP of IT/IS Operations: Manages IT systems and operations.
- Woody Rogers, VP of Marketing: Directs marketing strategies and brand growth.
Business Model and Operations
Tire Rack operates as a customer-direct provider of high-quality tires and auto accessories, emphasizing fast, free shipping as well as comprehensive tire reviews and testing. The integration of digital sales since 1998 has supported Tire Rack's rapid growth, including the distribution of over 2 million tires annually supported by over 400 employees.
Recent Developments
Tire Rack's merger with Discount Tire in December 2021 aims to enhance omnichannel capabilities, ensuring Tire Rack sustains technological innovation and strategic expansion in the automotive retail industry.
Competitor Analysis
1. Discount Tire
As the parent company of Tire Rack, Discount Tire is the largest independent tire and wheel retailer in the United States, with over 1,100 stores in 38 states. Utilizing proprietary technology like Treadwell for enhanced online services, Discount Tire reported $8.9 billion in revenue in 2024 and is highly esteemed for social impact and employment of new graduates.
2. Tirebuyer
Situated in Kirkland, Washington, Tirebuyer functions as an e-commerce platform with annual revenue of $10.1 million. It leverages a strategic partnership with American Tire Distributors enhancing its distribution prowess. Tirebuyer boasts over 20,000 installation partners, focusing on consumer research and user-friendly purchase-to-installation experience.
3. Goodyear
With headquarters in Akron, Ohio, Goodyear capitalizes on a rich heritage in tire manufacturing and innovation. Employing 72,000 people worldwide, it garners over $20 billion annually in sales, known for its diverse tire product range which includes performance and aviation tires.
4. SimpleTire
SimpleTire's B2B technology platform connects manufacturers, distributors, and installers. It sustains a rapid growth trajectory with a broad network of over 10,000 partners and notable collaborations such as with Dealer Tire, optimizing the consumer tire-buying experience.
5. Pep Boys
With operations since 1921, Pep Boys offers comprehensive automotive services across over 900 locations within the U.S. Part of Icahn Enterprises, Pep Boys provides extensive services beyond tire sales, strengthening its market position.
Insights
The strategic acquisition of Tire Rack by Discount Tire underlines a focus on expanding digital presence and distribution reach. Competitors like Tirebuyer and SimpleTire demonstrate a significant push toward enhanced e-commerce solutions, indicative of a broader trend in the industry toward digital integration.
