TI Cycles Unveils ‘Made for India’ Ridley Bikes
CHENNAI, India – Designed in Belgium and ‘made for India’, TI Cycles has introduced a full range of Ridley branded bikes for the growing premium market in India.
TI Cycles and Ridley signed the contract for the exclusive distribution of the well-known Belgium bicycles at Eurobike 2016. “We are now launching eleven ‘made for India’ MTB, road and hybrid bikes ranging from 370 to 3,225 euro,” said TI Cycles of India President Arun Alagappan.
Future assembly in India
TI Cycles also announced plans to start assembling the Ridley range in India in next few years. Obviously this decision depends on the response from the market. Opening distribution channels in China, Croatia, Malaysia, Mongolia, India and UAE last year, the Belgium brand is rapidly expanding its global market. For 2017 Ridley is targeting South Africa, Paraguay as well as other markets in Latin America.
“For model-year 2018 we expect to sell 7,000 units in the premium range,” said Arun Alagappan. “This would include 2,000 Ridley’s as well as 5,000 bicycles of the other premium brands we are representing in India. The overall market value of bicycles of 135 euro and above is estimated at 55 million euro in India. Last year the volume of this premium category increased by approximately 30 to 35 percent.”
TI Cycles is one of the leading bicycle manufacturers in India. “In 2016 our bicycle output was 4.5 million units. On a total production of 18 million units annually in India we have a market share of 36%.”
Premium Cycling Group
To increase its sales on the high-end market in India, TI Cycles also formed a fully dedicated business department, the Premium Cycling Group (PCG). They will handle sales, marketing and distribution of TI Cycles’ own high-end brands such as Montra and Rodeo, as well as its international brands like Ridley, Schwinn, Cannondale and Mongoose. In this market the Premium Cycling Group will also handle all accessory brands TI Cycling is representing.
‘Track & Trail’ retail format
To strengthen its own ‘Track & Trail’ store network, TI Cycles has opened 50 outlets in this format last year. “We expect to open another 60 to 80 ‘Track & Trail’ stores in 2017,” explains Arun Alagappan. “While ‘Track & Trail’ is targeting the mass market, our premium brands are distributed via the ‘Track & Trail Sports’ outlets.”