Chennai, 27 Aug 2015 : TI Cycles of India, one of the leading bicycle manufacturers in India, a part of the INR 269 Billion Murugappa Group today announced that it has signed up with Ridley Bikes Belgium, one of the leading Bicycle brands in Europe, to acquire the Brand Licensing rights for the brand Ridley for India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for a period of 33 years.
Ridley Bikes Belgium was established in 1990 and today is considered one of the leading innovators in Bicycle Technology in Carbon and Alloy for key segments of Road, Cyclocross and MTB. They hold numerous patents for aerodynamic design of frames and forks, and have their products tested in Wind tunnels and universities throughout the world. It also supports one of the leading UCI World teams, Team Lotto – Soudal, who’s riders won 4 stages at the 2105 edition of Tour de France.
The Licensing rights will strengthen the market share for TI Cycles of India in the Premium Bicycles division and will also establish Ridley as one of the leading global brands in India. With the introduction of Ridley Bicycles in India, both the companies plan to undertake a series of programs in India to promote the culture of Professional cycling and also provide a platform for Indian riders to get global exposure. These super premium bicycles will be available at Premium Track & Trail and Ciclo Café retail outlets and key multi brand outlets across cities. The company plans to further strengthen its leadership position in the super premium segment by adding Ridley to the existing bouquet of the world’s best bicycle brands like Bianchi, Cannondale, GT, Schwinn, Mongoose & Montra, all under one roof.
Commenting on the launch, Mr. Arun Alagappan, President, TI Cycles of India, said “At TI Cycles, we arecommitted to bring to Indian consumers the best in innovation and technologies. We are confident Ridley bicycles will infuse fresh dynamism to our commitment to India and the Indian consumers”
Mr. Jochim Aerts, Chief Executive Officer, Ridley Bikes, said, “With the introduction of Ridley Bicycles to India, TI Cycles has taken a distinctive and progressive approach to the Indian market. Moving forward, our focus will be to grow this segment in line with the needs of the Indian consumers. We, with our partners are sure Ridley Bikes will establish itself as one of the leading brands in India”
TI Cycles plans to expand its reach of Premium Track and Trail and Ciclo Café stores up to 50 outlets by 2017 from its present 12 outlets. It has a world class domestic and export manufacturing facility in Chennai. TI Cycles being a pioneer in the cycling industry has been constantly introducing new brands of bicycles based on the wants and needs of the Indian consumer. The Company is committed to promoting cycling which provides extensive health benefits for individuals and society as a whole.
About Murugappa Group
Founded in 1900, the INR 269 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Parry Sugar industries Ltd, Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 32,000 employees.
About TI Cycles of India
TI Cycles of India, one of the leading bicycle manufacturers in India, is a part of the INR 243 Billion Murugappa group. TI Cycles has been at the forefront of innovations and is a pioneer in the market of cycles.
TI cycle is the only bicycle manufacturer with 4 brands – BSA for the comfort end of the market, Hercules for the rough and tough end of the market and Montra for the top end of the marketand our latest brand – Mach City for the urban commuter. Apart from a strong 2500 dealer network, TI Cycles came up with its retailing format for marketing its brand of cycles, fitnessequipment’s and accessories. BSA HERCULES EXCLUSIVE, RURAL HERCULES BSA STORE, HERCULES BSA ZONE, BSA WORKOUTS, TRACK & TRAIL for Premium Performance Bikes, Montra SIS are 5 formats, which provide the customer a satisfying and value for money experience and is part of a robust network of 800+ exclusive stores. From selling cycles, the company is selling cycling as a part of one’s lifestyle on the Faster, Fitter and Greener platform. The company organizes over 2000 activities promoting cycling every year.
About Ridley Bikes
Ridley Bikes is a world leader in premium road, tri, cross MTB and all road bicycles. Headquartered in Paal-Beringen Belgium, Ridley Bikes is distributed in over 30 countries and is a proud sponsor of the Lotto Soudal, Cult Energy, Telnet Fedia and Sunweb Professional cycling teams.