Lumax Auto Technologies, through its aftermarket division, has entered into a strategic partnership with Bluechem Group of Germany, one of the world leaders in innovative automotive car care solutions. LATL is a listed company under the Lumax-DK Jain Group.
This partnership will undertake the sale of car care products for cleaning, service and maintenance across the domains of preventive and maintenance solutions, additives, car and bike care, diagnostic software, tools and equipment.
In India, the company will introduce co-branded products distributed by Lumax Aftermarket through its extensive network of 350+ channel partners and over 30,000 workshops located across India. This will begin with 30 SKUs and will keep growing. Bluechem will provide support through training, OEM approvals, and joint marketing activities.
Commenting on the partnership, Sanjay Bhagat, Sr. EVP - Head Aftermarket Division, Lumax Auto Technologies, said, 'Lumax Group's strong business relationships with all major OEMs in India, combined with our collaboration with Bluechem, ushers in a new range of robust products for the Indian market. We anticipate a bright future for our business and expect to achieve healthy growth at a CAGR of 40 per cent over the next three years.'
The Indian car care products, services, and PPF Market is estimated to be around Rs.1,025 Crore (in 2023), growing at a healthy CAGR of 8.5 per cent per annum. This strategic partnership will provide further impetus to LATL’s growing after-market segment in India while aspiring to be amongst the top three in the country and establishing Bluechem’s presence in India.