A familiar name in the Enterprise 50 list over the last seven years, Binter & Co Pte Ltd has progressively risen in the rankings, this year achieving a place in the top ten.
Mr Marcus Lim, General Manager of Binter & Co, a tyre distributor set up by his grandfather, attributes the company's ongoing success to its consistent top-down approach, its diversity of product range and its strategic and highly targeted marketing campaigns. "We believe that lean is mean," Mr Lim explains. "We spend a lot on marketing but we spend wisely, mostly in targeted sponsorship of motorsports."
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Mr Marcus Lim, General Manager, Binter & Co
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While the economic downturn wielded its global devastation, Binter & Co remained largely unscathed as Mr Lim explains, "We hold a wide range of tyre products and brands to cater to every user and every budget, so even if our customers cut costs and opt for cheaper models in the downturn, they still buy from us."
Good inventory management also plays its part, made possible by the ERP system the company was able to implement with its SPRING grant.
Now in its third generation, this family-owned business continues to innovate with Mr Lim in the driving seat. "I used to work in Detroit, the Motor City, and could see how big the online tyre industry was there. I recognised that by setting up an online portal in Asia, I would finally be able to fix pricing for the industry in what has previously been a non-transparent pricing market," Mr Lim explains of his drive to implement his online portal, www.tyrepac.com "We have made this site easy to navigate so anyone can go in and order the right tyre for their vehicle, even if they know nothing about tyres. Three clicks are all it takes, and we even offer a mobile service in Singapore, Hong Kong, some parts of China and Malaysia, where we will deliver and install the tyres for them."
Binter & Co continues to aim for pole position in an industry that has become more dynamic as technology has progressed. Having secured a larger share of the market with its online portal, Binter & Co is mapping out its growth strategy moving forward, with an eye on Vietnam as a developing market. With Mr Lim behind the wheel, get set for an exhilarating ride.