Greaves Cotton ventures into multi brand spares business

Date: 13 Jul 2016

Greaves Cotton Limited, one of India’s leading engineering companies, has announced its foray into multi brand spares business, an extension to its after-market services. The engineering major, with a strong presence in the after-market services with a network of over 3,000 outlets spread across the country will provide a complete range of multi brand spares across categories like: engine, transmission, electrical, rubber parts, lubricants and body parts.

Currently, the size of the spare part markets in India is Rs. 3,500 crore in the space that Greaves Cotton is addressing.

The company, will initially, offer fast-moving vehicle and engine spare parts through its strong retail network.  This will be in addition to generic parts.  In the next phase even relatively slow-moving parts will also be offered to customers thus becoming a one-stop-shop for most parts requirements irrespective of the brand of 3-wheeler passenger and commercial vehicles.

The company will be the first to offer spares across all categories in Three Wheeler (3W) Segment.

Commenting on the launch company’s new venture, Sunil Pahilajani, MD & CEO said, “With an ever increasing vehicle population in India, there is a vast untapped potential in the after-market space. Also, there is an urgent need to counter the serious threat from spurious parts dealers”

“To begin with, we have tied up with more than 40 vendors for the supply of various spares. With our strong and increasing network across the country, we are in a position to provide one stop solution to our customers. Greaves has a strong distribution channel and service network which can be utilized to serve customers of other brands.  With minimal presence of other brands in this space, we believe there is an opportunity to create value.”

Greaves Cotton will be using its manufacturing facility and sourcing capability to produce and source vehicle and engine parts. The company further plans to increase its footprint by adding an additional 1500 outlets in the coming three to five years.

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