TI Cycles of India, part of Murugappa Group, has launched Belgium-based bicycle brand Ridley in the Indian market with plans to sell India-specific products and the global products under the brand. The company would collaborate with Ridley to share local knowledge, to bring out India-specific products, unlike its earlier brand associations, said senior management officials of TI Cycles.
"We are launching 11 models for India in a price range of Rs 25,000-80,000, for which we will have technology collaboration with Ridley. We are also launching 14 of Ridley's global brands, which would start at a price range of Rs 63,000-7.8 lakh and above," said Arun Alagappan, president of TI Cycles of India.
He said that the product will be manufactured by Ridley in Belgium and would be imported to India. These products will be sold through 54 dealers, who are dealing with the super premium bikes of TI Cycles, across the country.
The company, in August, 2015, entered into a Brand Licensing Rights agreement with Ridley Bikes to sell the Ridley range in India and neighbouring countries. Under this agreement, TI Cycles will leverage its understanding of the Indian bicycle market and provide a platform for the world-renowned bicycles brand Ridley to enter into the market of India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for a period of 33 years.
Joachim Aerts, chief executive officer of Ridley Bikes said: "With the introduction of Ridley Bicycles to India, TI Cycles has helped us take a distinctive and progressive approach to the Indian market. Moving forward our focus will be to grow this segment in line with the needs of the Indian consumers."
He added that the company, with the help of others, is planning to set up an open innovation centre by April, this year, to conduct research for the next generation of bicycles.
