Firefox Bikes has made a foray into the international market by opening its first showroom in Bhutan. Besides opening its bike stations in other neighbouring countries, the premium bicycle maker also plans to explore other markets in Africa and Southeast Asia.
“Firefox Bikes has embarked on an expansion beyond the borders of India, stepping into the mountain kingdom of Bhutan, taking a small step into giving the enterprise a global perspective,” Firefox Bikes Managing Director Shiv Inder Singh told this correspondent. In Bhutan, the company has given the exclusive franchise right to Yangphel, a well-known business entity in the country, and opened the first outlet in Thimphu.
“We plan to sell about 800 bikes in the first year of its operations in Bhutan. We will offer our range of products for younger generation and kids.” Some popular models being offered by Firefox Bikes are from well-known brands like Trek, Gary Fisher and Popeye. “There is great opportunity in the Bhutan market, particularly in mountain bikes and all-terrain bikes segments. Bhutan's topography is ideally suited for biking and the culture of owning a premium brand bike is rapidly picking up in this country. We hope to do well in this Himalayan nation,” he added.
Stating that Firefox Bikes plans to open 200 outlets across the world and in India in the next five years, Mr. Singh said, “Though the main focus would be to grow domestically, we plan to slowly make in-roads globally. We currently have 60 stores in India and will add 20 retail bike stations this fiscal. In the next five years, we plan to have 200 bike stations in India and abroad. We have identified some markets overseas where there is good potential for our bikes.”