Chennai, 3rd February 2012: TI Cycles of India, one of the leading bicycle manufacturers, part of the the USD 3.8 billion Murugappa Group, today announced the INAGURATION of their 200th exclusive retail store in Tambaram. The 200th “BSA Hercules Exclusive” store located at Chrompet, Chennai, is spread over an area of about 900 sq.ft and offers a complete range of Hercules & BSA brands of bicycles, BSA Workouts range of fitness equipments and TracknTrail range of International bicycles.
The 200th showroom “BSA Hercules Exclusive” was inaugurated by – Mr Prabhu Ganesan, the popular Tamil Actor and Film Producer in the presence of Dr. D Raghuram – President, Ti Cycles of India and BSA Motors, Mr. Arun Alagappan, Sr. Vice President – Sales & Marketing TI Cycles of India and Mr. KC Ramamoorthy, General Manager - Retail, TI Cycles of India.
Commenting on the inauguration, Dr. D Raghuram said, “The 200th showroom inauguration is an important milestone marking our six decades of steady growth and exemplary services. The appetite for social engagement is increasing among newer generation, to beyond traditional forms of entertainment and TI Cycles with its vast range of products promises this element of Fun in Fitness”.
TI Cycles, a pioneer in bicycle manufacturing and design, stands for the core promise of Fun, Fitness and Freedom. Through its brands, BSA and Hercules, TI Cycles offers consumers a range of products, from standard and mountain terrain bikes to electric and performance bicycles.
'BSA Hercules Exclusive Stores' have revolutionised the way people buy bicycles in India across Urban and Rural Towns. These stores are a one-stop premium shop for all BSA and Hercules products and have a customer friendly ambience and service. In 2010, the company started “Hercules BSA Cycle Stores – A Rural Retail initiative” to provide the urban retail buying experience in smaller towns. In just over a year’s time, there are over 200 of these rural stores. For its retail innovation, the company was recently appreciated at the Economic Time Retail Awards in the category of “Excellence in Rural Retailing”
Mr Arun Alagappan, Sr Vice President Sales & Marketing – Ti Cycles and BSA Motors said, “TI Cycles being a strong player in the market strives to provide its customers new and innovative range of products. With our 200th store opening today, our aim is not just to be the preferred shopping destination for bicycles and fitness equipments, but also revolutionize the Indian bicycle industry and induce more Indians to bicycle.”
TI cycle of India is the only bicycle company who has ventured into an organized retail format spread across cities to give a one-stop-shop experience to the customers. With a turnover of Rs1,121 crore and a year-on-year revenue growth of 18% TI Cycles is a market leader in the ‘specials’ segment of cycles and this has been made possible due to its exclusive retail outlets.
About TI Cycles of India
TI Cycles was established by the Murugappa Group in the year 1949, in collaboration with Tube Investments, UK. The first Hercules bicycle rolled out in 1951. Three more brands were added to the portfolio - Phillips in 1959, BSA in 1964 and Montra in 2011. TI Cycles has practically created and perfected every new cycle category in the country. The first MTB, the first geared bike, the first Shox model, the first girls’ bike, the first kids’ bike, the first light roadster and the first carbon frame bike were all introduced by TI Cycles. With the changing retail environment, TI Cycles has introduced BSA Hercules exclusive stores, which have revolutionized the bicycle outlet in India.
With a turnover of 1,121 cr and a year-on-year growth of 18 percent TI Cycles is a market leader in the ‘specials’ segment of cycles. TI Cycles has the capacity to manufacture 5.4 million cycles a year at 3 plants across India - Chennai in the South, Nasik in the West and Noida in the North. Standing for the core promise of fun, fitness and freedom, TI Cycles offers consumers a range of bicycles, e-scooters, fitness equipment and infant mobility solutions. For more details, visit www.bsahercules.com
About The Murugappa Group
Founded in 1900, the Rs. 17051 Crores (USD 3.8 billion) Murugappa Group is one of India's leading business conglomerates. The Group has 28 businesses including eight listed Companies actively 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., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Cargill, Mitsui Sumitomo, Winterthur Technology Group and Morgan Crucible. The Group has a wide geographical presence panning 13 states in India and 5 continents. Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. For more details, visit www.murugappa.com
For further details please contact:
|Makarand Nadkarni|| || || ||Suresh Krishnan|
|DGM Retail, TI Cycles of India|| || || ||Sr. Associate Director, IPAN Hill & Knowlton|
|Mobile: +91 96770 16194|| || || ||Mobile: +91 98400 97045|
|Email: firstname.lastname@example.org|| || || ||Email: email@example.com|