TI Cycles India, a bicycle manufacturing division of the Rs 24,300-crore Murugappa Group, is looking at growing its super-premium bicycle business, including its Montra brand.
The company has launched the Ducati range of super-premium bicycles, designed and manufactured by Europe’s CyclEurope.
Speaking at the launch function, K C Ramamoorthy, VP of international business at Tube Investments of India, part of Murugappa Group, said TI Cycles track and trail division has a 40 per cent market share in the super-premium bicycle segment in the country. The market share of the segment is around 25,000 units per annum.
TI Cycle’s own brand in the category, Montra, commands a 20 per cent share in the company’s sales in the segment, he said.
The track and trail division, which offers super premium brands with a retail price above Rs 15,000, currently has international bicycle brands including Bianchi, Cannondale, GT, Schwinn and Mongoose.
TI's Montra available in four models, was launched in 2011 and is priced in the range of Rs 15,000-25,000. The company is planning to add seven new models in the next three months, he said.
TI Cycles with the BSA and Hercules brands in its portfolio, is eyeing higher growth in metros and from the kids category. The company currently has a manufacturing capacity of 4.5 million units, while its utilisation is 4 million units.
It currently has around 800 exclusive outlets and has a presence across 10,000 outlets in the country. It is planning to expand the reach of track and trail stores to 50 outlets by 2017 from the existing four outlets.
