Point S, the global tyre and auto care network, announces its entry into the Chinese market with a local partner: Suremoov.
The Suremoov brand has been in existence since 2004 and is a specialist in bodywork and car care and a point of reference in the Chinese franchise market.
Point S is the world’s largest network of automotive and tyre service centers, under one banner, with 4,350 outlets in 37 countries. Point S was founded in France in 1971.
This partnership has been achieved by the Chinese group Suremoov and its 950 franchised outlets joining the International Point S network.
The two groups are proud to also announce the creation of a joint venture, Point S China, a company that will be dedicated to the development of the Point S brand in the Chinese market. This is in addition to the existing Suremoov network with a concept focused on a quick repair service and tyre sales and fittings.
This joint venture is motivated by a shared ambition regarding the Chinese market and how the respective expertise of the two parties compliments each other:
- Suremoov with its perfect knowledge of the Chinese market and what makes it special, by its expertise of spare parts, oil changes and bodywork repairs and by the way that the brand has organized the running of a very successful franchise network in China.
- Point S by the strength of its brand, which, although currently unknown in China, offers a strong brand platform of nearly 50 years of history and a retail concept that has been rolled out on 4 continents, including Asia, where the brand has been already successfully launched in South East of the continent. Point S will also benefit its Chinese partner and its existing network by the global expertise of tyres it has built up over half a century.
Point S China plans a first critical mass with 1,000 new Point S franchised centers within 5 years and is already working on the opening of 2 pilot centers that will be operational before the end of this year.
Fabien Bouquet, the International CEO for Point S, says: “The creation of Point S China is the fruit of sustained exchanges and discussions which have allowed us to build up a strong personal and business relationship with our Chinese partner. We have undertaken a lot of research into the Chinese market over the past 2 years, to make sure we understand the specifics of the market and develop a realistic development plan. The Chinese market is indeed the largest automotive market in the world but also the most complex from my point of view. This is principally because of its very rapid change added to the advanced digitalization of the end-customers journey and the ecological challenges of the car-park growth. This is currently hurting the sale of new vehicles but is, however, helping out the second-hand market, with a consequent potential for growth in the automotive after-market. Our joint venture with Suremoov is motivated by convergent objectives between our two groups and also by a common strategic vision.”
The Point S China development plan will be presented at a conference to be held on October 25th in Shanghai with an official launch ceremony.