Castrol India and 3M India announce a strategic collaboration
Castrol India Limited (Castrol) along with 3M India Limited (3M) – subsidiary of the globally recognized technology company, announced a strategic collaboration to bring a range of market leading vehicle care products to the automotive after-market.
The collaboration agreement was signed by Omer Dormen, Managing Director, Castrol India Limited, and Debarati Sen, Managing Director, 3M India Limited, in Mumbai.
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.
Commenting on the collaboration, Omer Dormen, Managing Director, Castrol India Limited 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 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, Managing Director, 3M India Limited 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.”
Castrol and 3M look to harness a new business model with this collaboration. Castrol offers 3M’s market-leading vehicle-care products range to its customers and consumers, and 3M India will leverage the strength of Castrol’s robust pan-India marketing and distribution network of over 100,000 independent workshops and retail outlets.
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, 3M Automotive Aftermarket Executive Director, Asia 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 India customers.”