The bicycle-manufacturing arm of the $ 3-billion Murugappa Group TI Cycles India plans to manufacture a super premium range of bicycles at the Chennai facility in a year, a top company official said today.
The company, which already manufactures mass premium bicycles, BSA Rodeos and Riders in the Rs. 5,000 to Rs. 10,000 range, would begin producing Schwinn range of bicycles at the Ambattur facility, TI Cycles (India) President D Raghuram told reporters here.
Currently Schwinn ranges of cycles are imported from USA, Europe and Italy.
“We have already invested close to Rs. 8 crore in the facility. We have the ability to manufacture some premium bikes in our Ambattur facility. We want to produce at least 20,000 units a month,” he said.
TI Cycles, which has witnessed a steady sales growth in premium range of bicycles in India, also plans to double sales this year.
“We retail the Bianchi, Cannondale, Schwinn range of bikes from 2009. Last year we sold around 4,000 units and this year we should double it. We aim to sell around 10,000 units by end of this financial year”, he said after unveiling two premium range of cycles GT and Mongoose here.
Currently the super premium bicycles are imported and are retailed in India by TI Cycles.
Asked whether the company planned to manufacture super premium range of bicycles, he replied in the affirmative, saying the company was currently working on it.
“We plan to manufacture Schwinn range of bikes at our Ambattur facility. It has a huge capacity. It has been driving our sales in the premium cycles category by contributing more than 50 per cent... You will soon find some product”, he said.
“Our plan is to produce at least 20,000 units of Scwhinn range of cycles in the plant,” he added.
Including the Noida, Nasik and Chennai facility, the company has a total capacity of 5 lakh units.
Raghuram said the size of the mass premium range was 2 lakh units, while the mass cycle segment is 1.2 crore units.
Headquartered in Chennai, TI Cycles currently has 2,500 dealers across the country.
