Despite losing its bid for Pep Boys, Bridgestone is still looking to expand its retail footprint in the United States. The tiremaker is planning on adding 6,000 stores to the market by 2020, CEO Masaaki Tsuya told Japanese financial publication Nikkei.
In addition to opening new stores, Bridgestone is considering increasing contracts with dealerships, according to Tsuya.
Bridgestone Retail Operations operates roughly 2,200 tire and automotive service centers under Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works brands. In addition, more than 3,000 tire dealerships sell Bridgestone tires.
Bridgestone’s bid for Pep Boys was intended to address the tiremaker’s “weak” presence in some regions, Tsuya shared. Losing the acquisition was tough, but Bridgestone will now consider new deals with the freed-up cash, he said.