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TVS & Sons Limited, part of the TVS group, is planning to expand its retail automobile and auto components business, TVS Partsmart, by rolling out over 150 outlets by 2016 through the franchisee route.
The company expects the planned expansion from the present 40 stores would help Partsmart to clock a higher turnover at Rs 250 crore in the next three years from the present Rs 50 crore.
In a first-of-its kind partnership in the automotive parts and services industry, TVS & Sons has joined hands with India’s largest fleet member association to launch TVS Hypermarket.
Speaking to reporters after signing an agreement with the 2,300-member and 12000 fleet-strong Sankagiri Lorry Urimaiyalargal Sangam (SLUS) for setting up TVS Hypermart, TV Sundram Iyengar & Sons CEO and global president, G Srinivasa Raghavan, said there would be a big push in the auto parts distribution business in the future.
“It will be an integrated approach to focus on the total cost of ownership (TCO) of vehicles,” said Raghavan, who exchanged the agreement with SLUS president M R Kumaraswamy on the sidelines of AutoServe 2014, organised by the Confederation of Indian Industry.
The Hypermart also introduced a membership card for the SLUS members that can be used for the purchase of auto parts, servicing, fuel and any other commercial transaction.
“The card will be a major advantage for fleet drivers. By using Hypermart card, they can access petrol and other services at various centres run by TVS along with Ashok Leyland,” said Kumaraswamy.
