ITDG Celebrates its Growth at Annual Meeting, Sets Goals for 25th Anniversary in 2019
When you’ve had a great year in a relatively flat overall market, it’s time to take a break and say thanks to your members and suppliers. That’s what the Independent Tire Dealers Group LLC (ITDG) did last month at its annual meeting and trade show in Akumal, Mexico.
The affinity group totaled over $207 million in purchases in 2015, shattering its previous high mark of slightly under $187 million in 2014. The group also achieved a record profit with a shareholder return of 4.6%, amounting to over $8 million for its 100 shareholders.
According to Michael Cox, CEO and president of ITDG, the group now has 145 members with 609 locations. He says almost 95% of the members are retailers, or a combination of retail/wholesale, and three-quarters of the members purchase at least 25% of their products through ITDG’s program.
ITDG gained 11 new members from 10 states during 2015 adding 50 locations and so far through the first quarter of 2016 has added seven new members with another 54 locations.
Cox thanked the assembled manufacturers, vendors and distributors who have supported ITDG’s organization throughout its growth years. He then expressed excitement about the continued growth in the years ahead.
“Our growth has been steady, from the membership side, annual purchases and profitability and shareholder return for our members and stakeholders. With the support we get from our vendor partners and member/shareholders, there is no reason the results won’t continue as they have in the past years,” Cox told MTD.
Speaking of growth, Cox threw down the challenge for the members for the group’s upcoming 25th anniversary in 2019. He set a goal of $300 million-plus in annual purchases and over 700 retail locations in the U.S. ITDG is one of the largest “affinity groups” in the country, originating in Southern California in 1994.