NEW DELHI, India - TI Cycles of India has opened two ‘Track & Trail’ shops selling high-end bicycles and renowned brands like Bianchi and Cannondale including a wide range of accessories and cycling apparel. The stores mainly target on MTB, road and hybrid bikes.
Who will spend between US$ 350 and US$ 4,000 for bike in a country were you can buy a Nano car for just US$ 2,000? “India has an estimated market of 7,000 performance bikes annually and has the potential to triple in the next three years,” explains K.C. Ramamoorthy, General Manager Retail of TI Cycles of India. “We are likely to gain a 50% market share of the performance bikes this period.”
TI Cycles opened a ‘Track & Trail’ outlet in Bangalore and in Delhi. The next store is expected to open in Pune next month. TI Cycles plans to open 10 outlets in the next three years.
“The outlook for Cannondale in India is very positive,” stated Edward Vlutters, International Sales Manager of Cannondale. “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 as traffic and environmental problems keep increasing in India, the bicycle has a bright future.”
Bianchi is entering the Indian market as part of the increasing focus on the growing Asian economies. Besides India, the Italian brand has also entered the Indonesian market.
“We have a subsidiary in Japan and are distributor for the Asian markets like Thailand, Taiwan and Malaysia. Last year we have started in China and today in India & Indonesia,” said Richard Stroem Bianchi’s Director International Sales. “Within three years we expect that India will be one of our most important export markets, mainly due to the rising spending power and the large young population in combination with a trend to stay fit.”
Caption: Edward Vlutters, International Sales Manager, Cannondale, K.C. Ramamoorthy, General Manager Retail, TI Cycles of India and Richard Stroem, Director International Sales of Bianchi.
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