Repsol Expands Market with New Distributor

Repsol expects that the partnership with distributor Huỳnh Châu will create significant advancements for the company's lubricant business in Vietnam.

In April, the Director of Repsol for the Asia-Pacific region, Mariano Castro Martínez, and a representative from Huỳnh Châu Trading Service Co., Ltd., Huỳnh Châu Hồng Ngọc, completed the signing of a cooperation agreement between the two entities. Under this agreement, Huỳnh Châu will become the official distributor of Repsol in the Southern-Central region of Vietnam. Through this collaboration, the domestic market will become more competitive with an increasing number of quality lubricant products being introduced to consumers.

Repsol's manufacturing plant in Spain.

With the goal of increasing its brand presence in Southeast Asia, Vietnam is the next destination for Repsol. As the fourth largest motorcycle market in the world, with an average lubricant consumption of over 264 million liters per year, Vietnam is considered one of the most promising destinations for the brand associated with high-speed sports. Therefore, collaborating with a reputable lubricant distributor in Vietnam will help the renowned Spanish lubricant brand enhance its sales volume and increase competitiveness in this "fertile" market.

Representative of Huỳnh Châu, Huỳnh Châu Hồng Ngọc, stated that with this signing, the goal of the company is to build and develop the Repsol brand, bringing this high-quality lubricant brand closer to customers.

"From here, we have the confidence of those seeking flames, with determination, willpower, passion, and a commitment to continuous development based on core values of heart and vision," said Hồng Ngọc.

Representatives of Huỳnh Châu are confident in the partnership with Repsol.

In Southeast Asia, Vietnam is the third largest lubricant market, with a compound annual growth rate (CAGR) of 9.2% in revenue and 6.7% in volume estimated from 2018 to 2023, according to Ken Research. In this context, the successful signing of the partnership between Repsol and lubricant distributor Huỳnh Châu is a step that brings many mutually beneficial advantages. It not only facilitates domestic consumers' access to high-end products but also serves as a stepping stone for the domestic lubricant market to develop faster and more sustainably.

Known for its slogan "Lubricants for Champions" and featuring MotoGP racer Marc Márquez from the Repsol-Honda team, Repsol is a multinational energy company from Spain with a development history of over 90 years.