After the announcement of the launch of Point S in Malaysia, Point S conquers a new market in Asia, namely India.
In this 1.3 billion inhabitant country, Point S concept will be implemented through Master Franchise Agreements with three regional partners who will be covering 5 of the most dynamic States: Deviate Enterprises for the Nation Capital Territory of Delhi and Punjab; GIAAN International for Maharashtra and Goa; and Tyrekada for Kerala. At mid-term Point S aims at covering more Indian States through an extension of the existing partnerships and nomination of additional Regional Master Franchisees.
In 2017 more than 25 stores will be converted to the Point S CI and concept, at mid-term the network should cover the 5 States with over 100 points of sales. With a replacement market of approximately 17 million passenger car tires and a significant truck market in radialization process, Point S sees a lot of potential in this tremendous country. Point S is also in process to open a National representative office, namely Point S India, to coordinate and support the development of its network in cooperation with its local partners.
Fabien Bouquet, Point S International CEO comments: “The Indian market faces major changes and Point S wants to take this opportunity to implement its concept and become at term a major retail player in the country. The car equipment ratio in India is one of the lowest in the world (20 cars for 1,000 inhabitants) but is constantly growing, which means opportunities for a tire and car maintenance network. As an example the tire market will grow by 10% each year in the 5 coming years. Thanks to our international strength and the know-how of our local partners we are strongly convinced that Point S will gain position as a key actor in the Indian automotive industry.”