Collaborate Corporation aligns with high profile motor vehicle brands
Collaborate Corporation (ASX: CL8) has forged an agreement with Trivett Automotive Group, one of Australia’s largest prestige automotive dealers, representing 15 brands across 23 dealerships with annual sales of 25,000 vehicles.
The agreement will facilitate the promotion and rental of BMW, Jaguar, Mini and Land Rover vehicles to private and corporate customers through CL8’s DriveMyCar business unit.
From Trivett’s perspective it will allow potential buyers to experience a range of models sold from its Sydney and Melbourne dealerships, all of which are rarely available for rent through traditional car rental companies.
Importantly, Trivett Automotive is the retail unit of Inchcape Australia, a leading player in the automotive services sector operating in the distribution, retail and logistics markets. The group’s brand partners also include Rolls-Royce, Bentley, McLaren, Honda, Subaru and Mitsubishi.
Inchcape Australia is part of the Inchcape plc group of companies which is based in London. It is the world’s largest independent international automotive retailer with operations in nearly 30 countries.
Consequently, not only has CL8 aligned with a high profile Australian automotive group, but it has also potentially teamed up with a partner which could support international expansion.
Although it must be said that this is an early stage company and investors considering this stock for their portfolio should seek professional financial advice.
It is worth noting that this is the second deal with an Inchcape company, following the October 12 announcement of an agreement with Subaru.
The company’s chief executive, Chris Noone highlighted the importance of the group’s relationship with Inchcape in saying, “We are pleased to be expanding our relationship with Inchcape in this new deal with Trivett which provides customers of DriveMyCar with the opportunity to experience BMW, Mini, Jaguar and Land Rover vehicles in ways never before possible, but just as important is the fact that it demonstrates the group’s ability to strike material deals that provide a foundation for an increasing revenue trajectory.