Chennai, Nov 24 (IANS) With super premium bicycle segment logging growth, the US based Trek Bicycle Corporation plans to expand its distribution network in India, said a top official of the Indian subsidiary.
He also said the company recently sold three bicycles costing over Rs 7 lakh a piece in India.
"The super premium bicycle market in India is around 30,000 units per year and has logged growth of 20 per cent in the last five years. The market is large enough. There are 10-12 international brands in the country," Navneet Banka, Trek Bicycle India Pvt Ltd told IANS.
"We will be adding about 20-25 outlets to our network. It could be a mix of multi-brand outlets and premium bicycles retail outlets selling bicycles starting from Rs 10,000. Currently Trek bicycles retailed by 25 outlets.
We will also have exclusive dealers selling only Trek brand bicycles," Banka added.
Banka said Trek bicycles are priced starting from Rs 25,000 and goes upwards to Rs 20 lakh.
"In India we recently sold three bicycles costing about Rs 7.5 lakh a piece. We sold one each in Mumbai, Hyderabad and Bengaluru," Banka said.
Speaking of the buyers he said those who opt for high priced bicycles are well informed and know what they need. They are focused on fitness and want to take cycling to next level.
According to him a high powered premium motorbike would weigh more and cost more, in the case of bicycles it will weigh less to cost more.
"The US company has rocket scientists and Formula 1 car scientists to design the bicycles. For instance a race cycle should weigh less. We have launched a cycle whose frame weighs just 673 grams and the entire cycle weighing six kg. The carbon fibre bicycles are built by hand," Banka said.
He said the Trek brand bicycles sold in India are imported from different countries like the US, Germany, China and others depending on the model.