New Delhi, June 28: British motorcycle giant Triumph plans to enter the fast growing Indian sports bike market by next year, following in the footsteps of Harley Davidson, BMW and Hyosung.
Initially, the company is looking to launch 6-8 models and may consider setting up an assembly facility soon. It is contemplating both the completely knocked-down unit (CKU) and import routes for its foray.
The Indian sports bike market is growing at 40 per cent annually. Domestic demand for sports bikes was estimated at over 500 units per year in 2010. India is a very important motorcycle market and Triumph has assessed it carefully before deciding to step in. We see it as the next step in our global business model, said Nick Bloor, CEO of Triumph Motorcycles UK.
According to analysts, Triumph will bring in its globally popular brands, including Daytona 675, Rocket III, Thunderbird, Bonneville and Speed Triple.
The company has also appointed Royal Enfields ex-Europe head Ashish Joshi as its managing director for India. Bloor said the appointment of Joshi was a signal of the companys seriousness about its success in India.
Before joining Triumph, Joshi was heading the European operations for Royal Enfield and established the companys business in Europe. He has over 16 years of experience in Asia and Europe.