German Mirror launches lubricant brand in India
German Mirror Lubricants and Greases has launched its Mirr Oils brand in India with a modest investment of $5 million (roughly ₹32 crore).
The UAE-based company will evaluate its performance in India for at least two years before making more significant investments to build a local manufacturing facility, Kiran Hebbalkar, Marketing and Sales Manager (Asia Pacific and Africa), German Mirror, said.
Currently, German Mirror has tied up with Mumbai-based AN Corp to import and distribute Mirr Oils in India from the UAE. Hebbalkar said that in the two weeks since its launch, the company has signed on 66 distributors in eight States and plans to reach out to more by the end of the fiscal. German Mirror sells a premium range of lubricants and greases to automobile, shipping and manufacturing customers.
By April 2019, German Mirror wants to be selling 12,000 kilolitres a year. Its pricing will be 8-10 per cent higher than PSU lubricant brands (Servo, by Indian Oil Corporation is the market leader) while being 12-15 per cent cheaper than MNC brands such as Castrol and Shell.
The company plans to start manufacturing in India in 2025. It wants to use India as a hub to supply locally (discontinuing imports from the UAE) and also export to China and South-East Asia.
If demand picks up in India sooner than expected, Hebbalkar said the company would consider tying up with a third-party toll blender locally.With India expected to become the second largest market for lubricants in the next 10 years, a host of manufacturers
are ramping up capacities here.