Sale of high-end bicycles up by 50 per cent; biking culture is becoming popular among the youth
Sale of high-end bicycles up by 50 per cent; biking culture is becoming popular among the youthEven as recession slows down the economy, Indian bicycle lovers seem to be on an overdrive. High-end bicycle manufacturers have reported a whopping growth of 50 per cent this financial year.
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Hotwheels: People are ready to splurge on high-end bikes that can help them stay fit as well |
Even though the niche bicycle market in India is still in its nascent stage, manufactures are receiving an overwhelming response from customers. Indian bike manufactures are also collaborating with international brands to set up new stores.
"We grew by 50 per cent in the last financial year, selling around 12-13,000 bicycles. That has gone up to 17-18,000 this year," said Ajit Gandhi, marketing head ofu00a0 Firefox Bikes Ltd, a premium bicycle brand.
So, why are Indians pedaling so furiously?
"Leisure activities like biking, trekking and racing etc are becoming a rage among the youth. Cycling is an ideal way to explore your surroundings. Leisure biking is one of the most preferred adventure sports among the youth," said Gandhi.
International bike manufacturer Merida too has witnessed a rise in sales by around 35 per cent this year. Ashwath Kapur, a Merida bike distributor, said, "In India, biking culture is becoming popular across metros. People are aware of high-end bikes and are ready to spend on them. Most of our customers are second time buyers. Earlier, bicycles were priced between Rs 7,000 and 10,000. Now its has gone beyond Rs 20,000. Even during the slowdown sales figures have jumped phenomenally. This year we will also be launching five India specific bikes."
Other international cycle manufacturers too have shown a keen interest in making India their home. These include Cannondale and Bianchi who have collaborated with TI Cycles to sell their leisure bicycle in India.
"We will be selling the Cannondale through our showrooms. Young professionals are taking to cycling because of the fitness and adventure quotient associated with it," said Rajesh Girdhar, distributor of BSA and LA cycle said.
