Greaves Retail to expand overseas presence

In a bid to expand its overseas presence, Greaves Retail, a subsidiary of Greaves Cotton, will start exports to Northern Africa, West Africa, Nigeria, Egypt and Sudan. The company is eyeing to grow its export revenue to ₹500 crore over the next four years. 

“We are looking at a range of made-in-India parts to extend our business in certain geographies. The initial focus areas for us to expand will include East African countries including Kenya, and Ethiopia,” said Narasimha Jayakumar, CEO of Greaves Retail to businessline.

The company that deals in retail distribution for three-wheelers, electric three-wheelers, electric two-wheelers, and Small Commercial Vehicle (SCV) contributes to 40 per cent of the overall revenue of Greaves Cotton. It has a domestic network of 8,000 retail stores, 200 distributors, and 20,000 mechanics. 

• Also Read: Greaves Retail plans bigger play in retrofitment of ICE 3Ws & 2Ws to electric

“The reason why it is a big opportunity for a company like ours is that some countries don’t have access to affordable spare parts. As a result, the end customer who is the transporter, loses out on vehicle uptime. We stand to provide high-quality, affordable spare parts in these countries as there is an earning asset with small commercial vehicles used to transport cargo. If the vehicle is not running on a per-day basis, it results in a loss of earnings from $6 to $15. By providing spare parts in a timely way, we are providing high asset uptime and high earnings opportunities for these end customers,” said Narasimha Jayakumar.

Greaves Retail presently exports to Sri Lanka and Bangladesh and in its second phase plans to expand its presence to Latin America, East Asia, Philippines, and Colombia.

Further, the company is also partnering with distributors and mechanics in the overseas market to ensure the products reach retail counters. 

• Also Read: Greaves partners with Usha Financial for electric three-wheeler financing

Product Focus

The company that offers 3,000 distinct stock-keeping units (SKUs) including components for diesel engines and power generation sets will focus on high-wear replacement parts that are vital for commercial vehicles. 

“It is important to note that our focus excludes four-wheelers, trucks, buses, and similar categories. We target specific vehicle classes that involve cargo or passenger transportation, where end consumers comprise either transport operators or individuals relying on their livelihoods, especially in countries like India. We are actively advancing into the realm of pure electric vehicles (EVs),” added Narasimha Jayakumar. 

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