CHENNAI: TI cycles on Friday launched bicycles of Belgium-based Ridley Bikes in India through a brand licensing rights agreement.
The products include those manufactured specially for the Indian market as well as imports – both categories made in Belgium.
Eleven models ranging between Rs 25,000 and Rs 80,000 will be manufactured specifically for the Indian cyclists and 14 other models ranging from Rs 63,000 to Rs 7.8 lakh will be imported from Belgium for sale in India.
Ridley Group, CEO, Joachim Aerts said, “This is first partnership for us (outside Europe). Europe, Japan, North America, Canada are biggest market for us. We felt we have to go a step beyond what we are doing now. With TI Cycles, we hope we can grow together in this partnership in India.”
Speaking on the occasion, Arun Nagappan, president TI Cycles, said that the premium segment for bicycles has been growing at a CAGR of 30% and Ridley’s products would bring a new experience to the customers.
“With its focus on innovation and rider-centric design philosophy, we are confident that the range of cycles from Ridley will give access to Belgium’s most renowned brand to the discerning Indian cyclist,” he added.
These super premium bicycles will be available at Ti Cycles’ Track and Trail sports stores, CICLO cafe retail outlets and multi-brand outlets across cities.