Triumph Motorcycles Ltd., which entered into the Indian market with 10 models in November, opened its first showroom in India in Bangalore on Tuesday. The company plans to expand its network up to nine dealerships including Chennai, Kochi, Mumbai, Pune, Ahmedabad, Delhi and Kolkata, by the end of this march. Firstly, Triumph India will open dealerships in each of the four southern states, before expanding to other parts of the country as it covers 90 percent of the super premium bike market in India.
“The strategy is to align our presence across all strategic locations where we are assured to gain competitive advantage and generate strong brand eminence, and Hyderabad is a key market in that respect,” Shoeb Farooq, national head of sales and dealer development at Triumph Motorcycles India, said in a statement.
According to Triumph, the Indian premium bike market is valued at about INR 450 crores with annual sales of about 3,000 units. Apart from the leader segment- Harley-Davidson, other superbike manufacturers such as Ducati, BMW, Suzuki and Honda also sell in India. US-based iconic motorcycle brand Indian Motorcycles is the latest addition to this fast-growing list.
Triumph received more than 100 advance bookings in Bangalore and Hyderabad, even before the two showrooms opened. The bikemaker aims to sell 500 bikes over the next six months, and take it to 1,000 units in 2015 and 1,500 units the year later.
With this expansion, the British bike manufacturer aims to capture a significant chunk of the country’s premium bike market, which is currently dominated by the US’ Harley-Davidson Inc.