New Delhi 29 August 2016: In an exclusive press conference organised by Motorcoats India, an emerging automotive aftermarket technology brand, the company announced its expansion plans for the next 24 months in India. After its successful studio launch in Hyderabad last month, the company has launched its next studio in New Delhi. Furthermore, the company has planned an investment of INR 85.69 Crores to expand it’s footprint across 36 more cities by opening 65 more such studios along with Research and Development wings. Bifurcating the financials, around INR 32.5 Crores would be spent on setup of these studios along with INR 53 Crores of operational and R&D cost.
The newly opened store in Delhi is about 5,000 sq. ft. in size with a team of 10 professionals to handle the exterior and interior car protection services offered by the company. In a single day, the studio would be able to deliver 3 cars post coating services and 10 cars post express services. The studio also has 6 covered and approx 15 open parking spaces. For it’s Delhi assignment, a total outlay of INR 1.5 Crores was kept aside which included expenditure on equipment’s, consumables and studio set up costs. After Hyderabad and Delhi, Motorcoats India has plans to spread its wings further south by opening studios in Bangalore, Chennai and other cities which would be a part of the expansion plans towards opening their studios in 36 other cities. Also, a total amount of approx INR 20.17 Crores from the total budget of INR 85.69 Crores would be kept aside for procurement, resource management and distribution across studios throughout India.
Ritu Tyagi, Director, Sales and Marketing, Motorcoats India, at the launch said, “During our research days, a few years back we found out that there is a strong demand for car protection which has been untapped in a country like India where the conditions are harsh for a car’s exteriors and interiors. Thus we came out with this concept and since then we have been receiving a very positive response. We have plans for investment INR 85.69 Crores in the upcoming 2 years across 36 cities where we plan to open more such studios and offer other innovative services and try to make our presence prominent across the country.”