New Delhi, 11 March 2016:TI Cycles of India, one of the leading bicycle manufacturers in India and a part of the Murugappa Group, today launched the Belgium-based bicycle brand “Ridley” in the Indian market. The entire range of bicycles from this world-renowned brand, which includes an India-specific product portfolio created by Ridley Bikes,was introduced by Mr. Joachim Aerts, Chief Executive Officer – Ridley Bikes and Mr L Ramkumar, Managing Director – Tube Investments of India, in the presence of Mr. Arun Alagappan, President – TI Cycles of India and Mr. Richard Craig Wittenberg, VP Operations – Ridley Bikes.
This event marks the introduction of the Ridley range after the Brand Licensing Rights agreement between TI Cycles and Ridley Bikes was signed in August 2015. Under this agreement, TI Cycles will leverage its understanding of the Indian bicycle market and provide a platform for the world-renowned bicycles brand Ridley to enter into the market of India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for a period of 33 years.
Speaking on the occasion Mr. Joachim Aerts, Chief Executive Officer – Ridley Bikes said “We are very excited to be in India.With the introduction of Ridley Bicycles to India, TI Cycles has helped us take 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 along with our partner are sure Ridley Bikes will establish itself as one of the leading brands in India”
Mr L Ramkumar, Managing Director – Tube Investments of India said “At TI Cycles, our continuous focus is on bringing to consumers the best of the cycling world, in the form of the best in innovation and technology. We are confident Ridley bicycles will infuse fresh dynamism to our commitment to deliver high performance bicycles to the Indian consumers”.
Mr Arun Alagappan – President TI Cycles added “Ridley has stood for excellence in product innovation. They have been a natural partner for us to bring to our Indian customers a great new experience in cycling. With its focus on innovation and rider-centric design philosophy, we are confident that this range of cycles from Ridley will give access to Belgium’s most renowned brand to the discerning Indian cyclists”.
The Brand Licensing agreement between Ridley Bikes and TI Cycles will strengthen the market position 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 Bikes in India both the companies plan to undertake a series of programs to promote the culture of Professional cycling and also provide a platform for Indian riders to get easy access to products of global standards.
These super premium bicycles will be available at Premium Track & Trail Sports Stores, CICLO Café retail outlets and key multi brand outlets across cities. TI Cycles plans to strengthen its leadership position further in the super premium segment, by adding Ridley to the existing portfolio of the world’s best bicycle brands like Bianchi, Cannondale, GT, Schwinn, Mongoose & Montra all under one roof.