The company's growth strategy is to take the total product line-up to over 400 products in both the two- and four-wheeler segments by the end of 2018-19.
06 Aug 2018 | 15202 Views | By Autocar Professional Bureau
Rico Auto, a leading component manufacturer and supplier in the India market since 35 years, has completed a year of operations in the two-wheeler aftermarket. It has now diversified into the four- wheeler aftermarket component segment.
The company's aftermarket product portfolio comprises parts like clutch plates, clutch assembly, brake ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
Rico Auto, a leading component manufacturer and supplier in the India market since 35 years, has completed a year of operations in the two-wheeler aftermarket. It has now diversified into the four- wheeler aftermarket component segment.
The company's aftermarket product portfolio comprises parts like clutch plates, clutch assembly, brake shoes, disc brake pads, brake drum, alloy wheels and other aluminium parts for two-wheelers, and brake drums, brake pads, brake shoes and brake discs for four-wheelers.
The product diversification announcement was made at a distributor’s meet recently. The company has over the past year established a network of 40 channel partners across India and also in in Nepal and Sri Lanka.
Last year the Rico Auto aftermarket vertical started with 28 products, and added 250 more new products to existing lineup. The growth strategy is to take the total product line-up to over 400 products in both the two- and four-wheeler segments by the end of 2018-19.
According to Arvind Kapur, chairman, CEO and MD, Rico Auto, “It gives me pleasure to announce our foray in the four-wheeler aftermarket segment as we saw an overwhelming response and acceptability of our two-wheeler products in the past year. We are highly optimistic and foresee a remarkable performance in the four-wheeler aftermarket.”
Surendra Singh, president and COO, Rico Auto Industries, said, “Rico Auto has witnessed continuous growth since its inception with immense focus on R&D and network development.”
Abhishek Kulshrestha, VP – Corporate Materials & AfterMarket Business, Rico Auto Industries, said, “After achieving the target of Rs 10 crore in nine months in the two-wheeler segment in 2017-18, we are working aggressively on spreading our network not only in India but also overseas. We will soon be covering new uncharted territories with special focus on SAARC countries. We will be launching new aftermarket products range for the two-wheeler segment during the approaching festive season. Our aftermarket product range will set a new benchmark in terms of quality and will include an entire range of products in both the two-and four-wheeler aftermarket segments. We see a tremendous growth opportunity in the aftermarket, which would help us reach our projected revenue of over Rs 100 crore by 2020.”
Arvind Kapur, chairman, CEO and MD, Rico Auto at the launch of the Rico four-wheeler aftermarket product line.