TI Cycles popular for BSA and Hercules cycle brands, has launched the Belgium-based bicycle brand Ridley, in the Indian market under a licensing agreement.
AS per the agreement, the company will launch 9 Ridley models specific to India and will be available in the market from June 2016. The cycles are priced INR 25,000 onwards.
Following the brand licensing rights agreement between TI Cycles and Ridley Bikes that was signed in August 2015, the companies introduced their Ridley range in India.
Along with the 9 Ridley models that are launched, there are 14 other high-end models which will be available on request from customers. Also, under the aforementioned 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, Joachim Aerts, Chief Executive Officer, Ridley Bikes said that their company is excited to be in India. With the introduction of Ridley Bicycles to India, TI Cycles has helped them to take a distinctive and progressive approach to the Indian market. Moving forward, their focus will be to grow this segment in line with the needs of the Indian consumers.
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”.