Sumitomo Rubber Industries, Ltd is a prominent Japanese corporation specializing in tire and rubber manufacturing. It is part of the Sumitomo Group and has diversified its portfolio to include sports equipment. The company is known for its tire brands such as Dunlop, Falken, and Ohtsu, and for manufacturing sports equipment under the Dunlop Sport brand.
Historical Evolution:
- Established in 1909 following an investment in Dunlop Japan by the Sumitomo Group.
- Initially named “Chosun Tire Company,” it was rebranded to “Sumitomo Rubber Industries Ltd.” in 1963 after gaining control of Dunlop Japan.
- In 1985, acquired Dunlop’s automobile tire assets, including the Dunlop brand rights for automobile tires, from BTR plc.
- In 1986, expanded its reach by acquiring the Dunlop Tire Corporation in the US.
Joint Venture and Brand Division:
- In 1997, Sumitomo and Goodyear Tire and Rubber Company formed a joint venture, sharing manufacturing and market responsibilities, including for Dunlop branded tires.
- In 2014, Goodyear announced the dissolution of the partnership with Sumitomo due to alleged anticompetitive conduct.
- The Dunlop brand division between Goodyear and Sumitomo was finalized in 2015, with specific regional rights for automotive and motorcycle tires.
Global Expansion and Operations:
- Acquired Apollo Tyres South Africa in 2013, renaming it Sumitomo Rubber South Africa (Pty) Ltd.
- The Ladysmith plant in South Africa manufactures Dunlop, Sumitomo, and Falken tire brands.
Falken Tire Brand Development:
- Introduced the Falken Tire brand in Japan in 1983 and expanded to North America in 1985.
- Post Goodyear partnership dissolution, the Sumitomo Rubber USA factory in New York began producing Falken Tire-branded tires in 2016.
SRI Sports Limited Subsidiary:
- Specializes in sports equipment, particularly in tennis and golf.
- Owns Srixon, XXIO, Cleveland Golf, Never Compromise, and rights to the Dunlop name in most regions.
- Srixon is known for tennis and golf balls, golf clubs, and accessories, endorsed by professional golfers like Hideki Matsuyama and Brooks Koepka.
- Cleveland Golf produces a full range of golf equipment and is endorsed by Vijay Singh and Boo Weekley.
- In 2018, Dunlop became the official ball of the Australian Open through a partnership with Tennis Australia.
Acquisition of Dunlop Brands from Sports Direct:
- In 2016, Sumitomo Rubber sought regulatory approval for acquiring Dunlop-related businesses from Sports Direct.
- The acquisition included Dunlop Brands Limited, Dunlop Slazenger 1902 Limited, Dunlop Australia Limited, and the Dunlop-related business of Dunlop Sports Group Americas, Inc.
- This strategic move aimed to consolidate the Dunlop brand globally across various products, including sports goods.
Sumitomo Rubber Industries, with its diverse product range and strategic acquisitions, continues to be a significant player in the tire and sports equipment markets globally.