US high-end bicycle maker Trek is upbeat about the market in the country on the back of a growing interest in cycling as well as emphasis on creation of infrastructure, especially in the smart cities projects.
The company that operates in India through a wholly owned subsidiary is in the process of expanding the footprint and engaging with customers, said Navneet Banka, country manager of Trek Bicycle-India, at a one-on-one interaction with The Hindu .
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As part of such a focus, Trek has decided to scale up the operations by adding more retail partners and foraying into several other cities. “We are present in 40 cities across the country through our retail partners,” he said, adding the plan is to add 20-25 stores across India every year for the next 3-5 years.
In doing so, Trek would like to ride into more smaller cities and towns considering the customer response from such locations where it has opened stores. Such a move would also be in line with emphasis on making the brand and the product accessible.
In Hyderabad, where it has made a foray in partnership, the company is organising a Trek Founder’s Ride on Sunday. Over 100 cycling enthusiasts have registered for the 25 km journey on city roads, says Shilpa Shah of Trek’s retail partner ‘Yellow Jersey—The Bike Station’.
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Price range
Elaborating on the India market, during an interaction here on Friday, Mr.Banka said the bicycle market in India is more than 16 million units per year. The super premium segment market, consisting of cycles priced ₹30,000 onwards, in which Trek operates records 2,500 unit sales a month. Trek has 30,000 customers in India, he said.
Trek, he replied to a query, now imports cycles from various manufacturing locations globally and offers products priced from ₹32,000 to ₹20 lakh. It has also tied up with Bajaj Finance and HDFC for attractive consumer finance schemes.