TI Cycles plans to open sports gear stores

TI Cycles, part of the Rs 8,500 crore Chennai-based Murugappa Group, plans to launch electronic bikes and sports gear stores in the next financial year.

"The company intends to set up the sports gear stores in Chennai, Pune and the third either in Gurgaon or Chandigarh. These stores will cater to the whole range of sports equipment. At present, we are in the process of conducting a feasibility study for such stores which are expected to be
established in the next fiscal", Arun Alagappan, head (Retail) of TI Cycles said at the launch of the BSA Go store in the city.

TI Cycles aims to roll out 100 such stores in the country by the end of  2008, the investment for each store being Rs 20-25 lakh.

BSA Go store is a speciality store which offers fitness equipment and infant products apart from the complete range of Hercules and BSA brands of bicycles.

The company, which is the second largest manufacturer of bicycles in India after the Hero Group is eyeing a revenue of Rs 800 crore by 2010, up from the Rs 500 crore which it clocked in 2006-07.

TI Cycles, which is now focussing on the home fitness equipment is all set to diversify into the commercial fitness equipment range next year, Alagappan said.