TI Cycles of India, one of the leading bicycle manufacturers, part of the Rs 95.82bn Murugappa Group, has entered into the performance bicycles segment.
TI Cycles will partner with international bicycle manufacturers Bianchi and Cannondale to bring to the Indian consumer, bicycles and accessories with International standards.
Cycling enthusiasts can avail these world-class performance bicycles ranging from Rs.17, 500 to Rs.2.00 lakh at Track and Trail showrooms at Lajpath Nagar, New Delhi. The total project outlay is expected at Rs100mn. Arun Alagappan, Senior Vice President-Retail & BSA Motors will spearhead this initiative.
Arun Alagappan, Senior Vice President-Retail & BSA Motors, Richard Stroem, Director International Sales, Bianchi, Edward Vlutters, International Sales Manager, Cannondale and K C Ramamoorthy General Manager Retail were present at the launch of the Track and Trail Store, New Delhi.
Arun Alagappan, Senior Vice President-Retail & BSA Motors said, "With a paradigm shift in the urban Indian lifestyle, the concept of cycling is moving towards fitness, sports and recreation. Understanding the discerning demand to address the need of the market, TI Cycles has ventured into this market in partnership with leading International brands Bianchi and Cannondale."
He added, "Our partnership with Bianchi and Cannondale will further strengthen our competence in the performance bicycles market and enable us to deliver the best to the Indian customers with high-tech world class components."
TI Cycles is the pioneer in retailing of bicycles in India and has a network of 80 exclusive stores and 200 Shop in Shops all over the country. The retail reach and consumer understanding gives TI Cycles the edge over other manufacturers in this industry.
Richard Stroem, Director International Sales, Bianchi, stated, "We at Bianchi are looking forward to an exceptional growth in India. In a span of over 3 years, we believe that India can become one of our most important export markets, mainly due to the increase in income levels and the large youth population which shows an increasing trend to stay fit."
Edward Vlutters, International Sales Manager, Cannondale, said, "I think the outlook for Cannondale in India is very positive. India has a great cycling culture in terms of commuting with bicycles and the use of bicycles in various ways. Bicycles are seen everywhere in India and respected on the roads. As traffic and environmental problems keep increasing in India and worldwide, the bicycle has a golden future." He added, "TI Cycles will set up authorized Cannondale distributors and we will work as close partners to support each other."
TI Cycles plans to open 10 Track and Trail showrooms in potential cities over the next three years. The initial roll-out will be in the cities of New Delhi, Bangalore and Pune. The products would also be retailed through the BSA GO (COCO) showrooms and through referral partners.
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