High quality and performance bicycles producer Giant has forayed into the Indian retail cycle market, opening its first flagship store in Mumbai, in association with Element Retail. Element Retail, which has launched exclusive outlets for brands like Asics, Speedo, Apple & Jockey in India, has a license to distribute Giant bicycles across India. Aditya Bafna, Managing Director, Element Retail, tells us more…
THE INDIAN RETAIL CYCLE MARKET: The cycling industry in India is quite unorganized. Data from 2016-17 suggest that the market today, including all the volume as well as premium brands, is at around 16 million units a year, out of which the premium segment consists of 0.5 million units. In the last two years, we haven’t seen too much growth in the volume brands, but the premium cycle market has been growing at 8-9% YoY. In fact, if we get the support of infrastructure, the segme could see double digit growth.
ROADMAP FOR GIANT: We want to start by creating a brand presence and a buzz around Giant. Eventually we will spread from metros to Tier II and Tier III cities. Bangalore, Delhi, Kolkata and Chandigarh will have the next few stores.
MARKETING THE BRAND: The stores will have dedicated trainers who can talk to consumers about the brand and products that suit him/ her best. We are also trying to build communities wherever we go. In Mumbai, we are already in the process of building a community wherein our trainer will educate and enhance the experience of cycling, while also going to newer age groups or newer people.