Tire Rack

From Wikipedia, the free encyclopedia
  (Redirected from Draft:Tire Rack)
Jump to navigation Jump to search
Tire Rack
Privately held
IndustryRetail
Founded1979; 40 years ago (1979)
FounderPeter Veldman
Headquarters,
Key people
Peter Veldman, Founder and President (1979-2014)
Mike Joines, President (2014-Present)
ProductsTires, wheels, auto accessories
Number of employees
400+
Websitetirerack.com

Tire Rack is a customer-direct tire, wheels, car accessories distributor headquartered in South Bend, Indiana.

History[edit]

In 1979, automotive parts and service business owner Peter "Pete" Veldman came up with his business idea for the Tire Rack after his son-in-law Mike Joines was frustrated when he couldn't find tires for his Opel Manta sports coupe. Mike recommended that they start a mail-order tire company that stocked a few of every tire. Although Pete convinced Mike to help him open a retail store instead, they had so many phone orders that they eventually shut down the retail location and opened more phone lines.[1] Three years after opening the store, Tire Rack got into the mail order business and by 1990 the store was shut down.[2]

In 1995, Tire Rack began its website where it posted reviews of tires it sold.[2] In 1998, Tire Rack began online sales.[3]

By 2005, Tire Rack had grown into a nation-wide company that distributes more than 2 million tires annually.[4] The company now offers 24 tire brands and has nine warehouses in eight states.[3][5] Customers who pick up orders from a warehouse location are offered a discount.

After 26 years of being a privately-owned family company, Los Angeles-based investment group Leonard Green & Partners took a 49% stake in the company with the Veldman family controlling the majority 51%.[6]

Pete Veldman passed away on March 14, 2014 at the age of 87.[7] Pete's son-in-law Mike Joines succeeded him as president.

Motorsports[edit]

Tire Rack has been the title sponsor of the National Sports Car Club of America (SCCA) Solo program since 1995 - a club that allows driving enthusiasts to compete at a local level.

References[edit]

  1. ^ O'Donnell, Jayne (17 December 2003). "Family rolling to success on Tire Rack". USA Today. Retrieved 2010-11-27.
  2. ^ a b "Tire Rack founder remembered for energy, vision". Tire Business. March 4, 2014. Retrieved 17 June 2018.
  3. ^ a b Ulrich, Bob (November 2, 2017). "'I'm Tired of My Supplier Competing Against Me': Online Sales Remain a Sore Point". Modern Tire Dealer. Retrieved 17 June 2018.
  4. ^ Brown, Warren (25 December 2005). "Hands-on and Still the Big Wheel at Tire Rack". Washington Post. Retrieved 2010-11-27.
  5. ^ "Tire Rack Frequently Asked Questions". Tirerack.com. Retrieved 17 June 2018.
  6. ^ "Investment Group to Take 49 Percent Share in The Tire Rack, Report Says". Aftermarket News. 15 June 2005. Retrieved 2010-11-27.
  7. ^ Allen, Kevin (March 14, 2014). "Pete Veldman leaves a legacy of generosity". South Bend Tribune. Retrieved 17 June 2018.

External links[edit]