myTVS Launches Quick Commerce for Auto Parts; Aims for 250 Stores
By Rediff Money Desk, Chennai Dec 18, 2024 16:00
myTVS, a leading digital automotive aftermarket platform, enters the quick commerce segment for auto parts distribution. They plan to establish 250 myTVS Hypermart stores across India over the next three years, with a focus on AI-driven supply chain technology and two-hour delivery.
Chennai, Dec 18 (PTI) myTVS, part of the USD 3 billion TVS Mobility Group and a leading digital automotive aftermarket platform, has entered the quick commerce segment for auto parts distribution.
The city-headquartered company plans to set up 250 stores branded as myTVS Hypermart across India over the next three years, Managing Director G Srinivasa Raghavan said here on Wednesday.
Initially, myTVS will establish about 50 stores by March 2025 in Tamil Nadu, Kerala, Maharashtra, and Gujarat. These stores will leverage AI-driven supply chain technology to ensure minimal returns and deliver the right product at the right place and time, he added.
The model operates as a "Supply Chain as a Pipe," introducing a consignment inventory system at partner stores, allowing them to focus on business growth without holding stock, Raghavan told reporters.
Following a successful pilot phase, the company has launched the service, which is expected to improve profitability per store and deliver superior returns for partner retailers within three months.
"It's a unique model. We can cater to a wide range of services based on dealer requirements," he said.
"Customers can order parts online through the myTVS app, with a delivery promise within two hours. We have built the country's largest digital catalogue of parts and lubricants, featuring 8 million Stock stock-keeping units for both commercial vehicles and passenger cars. myTVS aims to connect 50,000 garages and retailers across India by 2025," he added.
Currently, myTVS operates over 1,000 service centers, serving over a million customers and managing 10,000 vehicle fleets.
The city-headquartered company plans to set up 250 stores branded as myTVS Hypermart across India over the next three years, Managing Director G Srinivasa Raghavan said here on Wednesday.
Initially, myTVS will establish about 50 stores by March 2025 in Tamil Nadu, Kerala, Maharashtra, and Gujarat. These stores will leverage AI-driven supply chain technology to ensure minimal returns and deliver the right product at the right place and time, he added.
The model operates as a "Supply Chain as a Pipe," introducing a consignment inventory system at partner stores, allowing them to focus on business growth without holding stock, Raghavan told reporters.
Following a successful pilot phase, the company has launched the service, which is expected to improve profitability per store and deliver superior returns for partner retailers within three months.
"It's a unique model. We can cater to a wide range of services based on dealer requirements," he said.
"Customers can order parts online through the myTVS app, with a delivery promise within two hours. We have built the country's largest digital catalogue of parts and lubricants, featuring 8 million Stock stock-keeping units for both commercial vehicles and passenger cars. myTVS aims to connect 50,000 garages and retailers across India by 2025," he added.
Currently, myTVS operates over 1,000 service centers, serving over a million customers and managing 10,000 vehicle fleets.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.89 (+ 1.14)
- 56575250
- Vodafone Idea L
- 7.40 ( -3.90)
- 38691580
- Standard Capital
- 1.02 ( 0.00)
- 13325591
- G G Engineering
- 1.66 ( -1.19)
- 12950953
- GTL Infrastructure
- 2.05 ( -1.91)
- 12625564
MORE NEWS
Restaurant Brands Asia Raises Rs 500 Crore
Restaurant Brands Asia, formerly Burger King India, has approved raising up to Rs 500...
Maruti Suzuki to Launch eVitara with Charging...
Maruti Suzuki India to introduce a comprehensive EV ecosystem including charging...
GST on Platform Fees, Not Deposits: SOGI's Plea...
Skill Online Games Institute (SOGI) urges the Indian government to levy 28% GST on...