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Market of imported sporty cycles increasing in India
Business

Market of imported sporty cycles increasing in India

Agency News

Ahmedabad, Sep 2 : The market of imported branded sporty cycle segment in India is continuously increasing despite the general slowdown in the domestic cycle market, Country Head of Bike Studio, one of the top-10 companies in to imported cycle business in India, Nitin Ghai on Monday said. Talking to the media here on the occasion of the opening of the fourth exclusive store of his company in Gujarat and first in Ahmedabad, Mr Ghai informed that the share of imported cycles in the overall cycle market in India was around 22 per cent almost two years ago.

Last year it increased to 27 per cent while the projection for the current fiscal was an estimated 31 to 32 per cent. He said that the general cycle market in the country was seeing a sluggishness but the imported cycle market was expanding. Those with affordable income and the fitness conscious youth in India were preferring to buy imported ones which in the starting range were only 15 to 20 per cent higher in price. To a query he said that his company that also deals in reputed world class brands like Ferrari, Lamborgani, Romet, Infinite, L A, X Bicycle & L A sovereign has planned to increase the total number of its exclusive stores in the country to 50 by March 2021.

We have currently four of our 19 Indian stores in Gujarat (Anand, Rajkot, Surat and Ahmedabad) and we have planned to take this number to seven by March this year with two more stores in Ahmedabad. The price range for kids segment was Rs 5,000 to 16,000 while that for adults category was Rs 10,000 to six lakh. Some of the Titanium made cycles price starts from Rs nine lakh. Talking about the company's first store in Ahmedabad, he said that it has been opened in a bid to make world class cycles available to cycling enthusiasts, in the city.

Besides fuelling the desire for fitness among the youth, the showroom, at Maple Tree Surdhara Circle Thaltej aims at taking cycling to the next level. Franchise owner of the store Prem Mulani said, ''Bike studio aims at promoting cycling among people of all age groups. Apart from the wide range of cycles for children, youth and senior citizens, the showroom will also have a service area. This is the part of the quality assurance of LA cycles, which manufactures cycles in Thailand. Highlights of the showroom include racing cycles, riding cycles, cycles for kids, snow cycles''.UNI