Bengaluru: America’s Waterloo-based Trek Bicycle Corporation, that designs, manufactures and sells 40 bicycle models in over 100 countries, is betting high on India.
The company says, bicycles are becoming favourite workout machines for health conscious and fitness savvy Indians even in Tier II and Tier III cities. Designated cycle tracks proposed under Smart City initiatives will further boost the cycling trend in the country, anticipates, Navneet Banka, the company’s Country Manager in India.
As per Banka, cycling is growing as a sport in India and it is the new golf. Also a lot of motor cycle enthusiasts are buying bicycles to strengthen their body, back and core muscles to keep them fit. Families, students, individuals, corporates, clubs etc are increasingly organising events around cycling.
“Our focus in India is to provide a great buying and ownership experience and expand the super-premium bicycling segment in India. Five cities, Delhi, Mumbai, Bangalore, Chennai and Hyderabad, currently account for 55% of super premium bicycle sales, but we see a lot of interest coming from smaller cities like Indore, Bhopal, Haldwani as well,’’ he said.
Trek Bicycle Corporation entered India in 2007 through a distributor and a year ago it set up its wholly-owned subsidiary indicating its deeper interest in the country.
Trek currently imports bicycles from its factories in the US, Germany and Taiwan to its warehouse in Mumbai to service India. The company that has presence in 25 Indian cities will expand to 30 new cities in the next five years, said Banka.
India sells 16.3 million bicycles a year, valued at Rs 6500 crore. Super premium bikes currently accounts only 2% of these but the segment is expected to grow at a CAGR of 20%.
Trek sells over 500,000 bicycles a year. Mexico, Brazil, South Africa, China, Korea and the Philippines are already developing markets for road and commuting bicycles and India too is expected to see a quantum growth in cycle sales, including super premium cycles and mountain bikes, in the next five years, Banka added.
Trek Bicycle intends to promote- randonneuring-a long-distance cycling sport in the country.
Trek range in India starts at Rs 26,500 and depending on a consumer’s specification, customized and performance bicycles can cost up to Rs 200,000.
Gary Christopher Fisher, known as the father of modern mountain bike, is the global brand ambassador of Trek bicycles.
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