While 3M will make available its expansive range of products through Castrol's all-India network, Castrol says this move will help it enter the over-Rs 1,400 crore vehicle care market.
31 May 2019 | 20306 Views | By Nilesh Wadhwa
Castrol India, one of India’s leading automotive and industrial lubricant brands, along with 3M India, a globally technology company, today announced a strategic collaboration to bring a range of vehicle care products to the aftermarket. The collaboration agreement was signed by Omer Dormen, managing director, Castrol India and Debarati Sen, ...
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Castrol India, one of India’s leading automotive and industrial lubricant brands, along with 3M India, a globally technology company, today announced a strategic collaboration to bring a range of vehicle care products to the aftermarket. The collaboration agreement was signed by Omer Dormen, managing director, Castrol India and Debarati Sen, managing director, 3M India, in Mumbai.
As part of the collaboration a range of 3M-Castrol-branded bike and car care products including shampoo, glass cleaner, cream wax, dashboard and tyre dressers will be available across India. The partners look to harness a new business model, which will see Castrol offering 3M’s vehicle-care products range to its customers and consumers, and 3M India will leverage the strength of Castrol’s robust all-India marketing and distribution network of over 100,000 independent workshops and retail outlets.
Commenting on the collaboration, Omer Dormen said, “Castrol is excited to combine our technological expertise, marketing and distribution strengths with 3M, a global leader in vehicle care innovation. Through this collaboration we enter into the $200 million (Rs 1,396 crore) vehicle care market in India, a move which aligns with Castrol’s approach to developing and embracing new business models in the ever-evolving automotive landscape.”
Debarati Sen added, “We are really pleased to see this collaboration come to life between two globally respected and trusted brands. Castrol and 3M both have an established presence in India and share values of customer centricity, with innovation and technology at the heart of everything we do. This collaboration will help us leverage our common strengths to meet the changing needs of Indian consumers and bring unique value offerings through the 3M-Castrol range of vehicle care products.”
Shyam Balasubramanian, global innovation director, Castrol said, “We are bringing together Castrol’s extensive network with 3M’s innovation capabilities to improve the driving experience of our consumers. We are confident of being able to scale up the model.”
PT Mukund, automotive aftermarket executive director, Asia, 3M said, “We are very excited to bring together 3M’s automotive aftermarket solutions with Castrol’s reputed lubricants offerings to enable superior automotive care for Indian customers.”
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