the way I think about it, Goodyear is kind of like Coles, with a...

the way I think about it, Goodyear is kind of like Coles, with a vertically integrated supply chain from factory all the way to the stores.

NTD is a bit like Metcash that supplies the independent IGA stores.

So if Coles takes back a product that Metcash distributes, it risks losing access to all the independent IGA’s who could be skeptical of dealing directly with Coles, instead of an independent wholesaler they have trusted for many years.

Sure, Coles could bully Metcash a bit, but not to the extent to lose access to a large group of IGA stores.

Coles also risks cannibalisation of its other products if it supplies to its own customer base.

And with T4U, NTD has an even wider distribution network which gives it a bit more power than it had before. If Goodyear seriously mistreats NTD, it could even start telling its retailer network that Coopers sucks and there’s no margin for them, why not try this other brand? I’d imagine a lot of tyre sales are trade directed, so a tyre shop could say, Coopers don’t make them like they use to, etc.

I could be completely off the mark of course, but NTD being in the game for 30 years has got to count for something.