Bicycles: Pedalling Ahead In Style

  • 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.

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