The cycles for kids will be priced in the range of Rs. 3,000-4,500
NEW DELHI: Firefox Bikes on Wednesday introduced global kids bike brand Popeye in India. Priced between Rs.3,000 and Rs.4,500, the company plans to sell at least 3,000 units annually and introduce more variants of the bicycles in the coming months targeting children below 10 years of age. These bikes are designed in the U.K. and manufactured in Asia.
“Popeye is a classic and iconic brand associated with the imagination of kids for over 80 years. We want to capitalise on the association. We will introduce more models in the range and may also go for other Popeye brand items like apparels and accessories for kids,” Firefox Bikes Managing Director Shiv Inder Singh told journalists here.
Informing that Firefox has secured the exclusive distributorship rights for the Popeye bicycle range in India under an agreement with Extend Brands, which controls the brand's licence in the country, Mr. Singh said the Popeye range would be available through 51 exclusive outlets across the country.
Disclosing the company's future plans, Mr. Singh said: “We plan to launch up to a dozen new models of its regular sports and adventure bicycles this fiscal as it aims to grow unit sales by 35 per cent. Our target is to register sales of over 22,000 units this fiscal, up from 17,000 units in 2009-10.”