Niche bike maker Royal Enfield today said it has forayed into Argentina market, the second biggest motorcycle market in Latin America.
The company has launched its first flagship store in Buenos Aires commencing full operation, including after sales, spares and service.
Royal Enfield has appointed Grupo Simpa as its official dealer-partner for Argentina and it will look after all market development and support activities such as marketing and after-sales, for the brand in the country, the company said in a statement.
"The flagship store in Buenos Aires fit right into our city-focused global expansion approach. People here are looking for fun, evocative, leisure motorcycling options that are practical for city-riding as well," Royal Enfield President Rudratej (Rudy) Singh said.
The company looks forward to bring the world of pure motorcycling to Argentina that will enable the company to realise competitive potential in the second biggest motorcycle market in the South American region, he added.
Currently, Royal Enfield bikes are sold across more than 50 countries, through 540 plus dealerships and 36 exclusive brand stores in cities such as Milwaukee, London, Paris, Madrid, Barcelona, Melbourne, Sao Paulo and Dubai.
The company sold more than 6.6 lakh units globally in 2016-17, and intends to ramp-up its production capacity to up-to 9 lakh motorcycles by end of 2018, to meet its increasingly rising global demand.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)