Engineering major Greaves Cotton has entered the multi-brand spares business, offering a complete range of multi-brand spares across categories such as engine, transmission, electrical, rubber parts, lubricants and body parts.
Greaves Cotton, with a strong presence in the after-market services with a network of over 3,000 outlets spread across the country, will provide complete range of multi-brand spares across categories like engine, transmission, electrical, rubber parts, lubricants and body parts.
The company said, it would initially offer fast-moving vehicle and engine spares through its strong retail network. This will be in addition to its generic parts.
In the next phase, it will offer more spares, including slow-moving ones, as it eventually becomes a one-stop shop for all spares."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.," said Sunil Pahilajani, MD and CEO of Greaves Cotton.
"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 outr customers. Greaves has a strong distribution channel and service network which can be utilised to serve other brands. All other brands are not doing enough in this space and we believe there is an opportunity to create value, " he added.
Greaves Cotton will be using the manufacturing facility and sourcing capabilities to produce and source vehicle and engine parts. The company further plans to increase its footprint by adding 1,500 outlets in the coming three to five years.
The spare parts business in the country, which is currently pegged at Rs3,500 crore, is expected to expand further.