Bicycles: Pedalling Ahead In Style
30 April 2019 7:33 AM GMT
With cycling becoming a hobby among the health and fitness conscious urban dwellers, demand for premium bikes is booming, , Bicycles, pankaj munjal
- Cycling is more of a social activity than it ever was before and for many members of the millennial generation, the high-end bicycle becomes a means to express and exude their identities," says Pankaj Munjal, Chairman and Managing Director, Hero Cycles.
- The Indian bicycle market, which until a decade ago was confined to local players like Hero, BSA, Hercules, Avon and Atlas, has seen the influx of international players like Trek, Kona, Schwinn, Giant, Fomas (an Indo-Chinese venture) Decathlon, Bianchi, Scott Sports, among others.
- According to him, lifestyle changes in the society and people's inclination towards premium bicycles have also contributed to the different outlook towards bicycles.
- Last year, as per industry estimates, bicycle sales in India stood at over 16.5 million units, valued at Rs 5,000-5,500 crore.
- " Entry of niche players Besides, the Indian bike market has also seen the entry of niche players like GoZero Mobility, a British electric bike maker which manufactures premium electric performance bikes and signature lifestyle merchandise.