TI Cycles India is eyeing to increase its share in the super premium bicycle segment
Tamil actor Aarya poses with a Ducati super-premium bicycle after its launch in Chennai on Thursday. Around 22,500 super premium bicycles a year are sold in India. Of this, TI Cycles has a 40 percent marketshare and has about seven global brands to
Chennai:TI Cycles India is eyeing to increase its share in the super premium bicycle segment by brining in more global brands to the country. The cycle major is hoping to launch 6 to 7 new bikes in the next six months under its home brand, Montra and other European brands.
“We are hoping to increase the revenue share of super premium bikes from two per cent to five per cent of the overall turnover of the company in the next three years,” said K.R. Chandrasekaran, chief operating officer of TI Cycles of India.
The company, which already has about six global brands to its portfolio, has added the flashy European brand, Ducati, to its kitty. Overall super premium bicycle market in the country is currently pegged at 22,500 units per year. This is expected to touch one lakh units in the next three years. “We command a 40 per cent market share of the super premium market and 25 per cent of the overall cycle market in the country,” said Mr K.C. Ramamoorthy, vice-president, TI Cycles.
TI Cycles sells wide range of high end bikes starting from Rs 15,000 and going up to Rs 2.8 lakh per unit. The firm imports premium brands including Bianchi, Cannondale, GT, Schwinn and Mongoose while it assembles Montra brand locally.
“We shall be launching more models of Montra and bring in newer European brands in the next six months to strengthen our market leadership,” Mr Chandrasekaran said. To further enhance its distribution, the Murugappa group firm is hoping to increase its ‘Track and Trail’ outlets, dealing with super premium bicycles, from the present four to 10 by this year end.
As a pilot service, the firm is also planning to launch an after sales mobile app that will help customers to get their bicycles serviced at their doorstep.
( Source : dc correspondent )
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