Revving up things in the motorcycle business, the iconic Royal Enfield on November 4, 2009, expanded its portfolio with the launch of the Classic 500 Classic 350. Priced at Rs 1.25 lakh for the Classic 500 and Rs 98,086 for the Classic 350, Royal Enfield is not looking to compete with the other motorcycles available in the market today, not even the ‘superbikes’ being launched in India by Yamaha or Honda.
Speaking at the launch, RL Ravichandran, CEO, Royal Enfield, said, “We are estimating a growth of 15 per cent per annum. We have invested Rs 63 crore in the last 3-5 years and will be investing more in the next three years to increase our production capacity.”
Commenting on marketing and advertising activities, Ravichandran said, “We will advertise in the media, but it will not be mass media. We will choose media that is unique to Royal Enfield to reach out to our customers. However, our emphasis would be more towards organising riding activities to build connect with our TG than mass media.”
Also present at the launch function was Siddhartha Lal, MD & CEO, Eicher Motors, who said, “We are organising several riding activities such as the 10-day ‘Himalayan Odyssey’, the ‘Tour Rajasthan’ campaign. Going forward we have the Goa expedition, the ‘Southern Odyssey’ and ‘Keep Riding’ movements. We are also organising bike rides every month. However, our biggest activity is the ‘Rider Mania’, an annual gathering of Royal Enfield riders from all over the country.”
Royal Enfield’s domestic product line-up includes Bullet 350, Bullet Electra, Bullet Electra 5S and Thunderbird Twinspark 350.
With another iconic bike player, Harley Davidson, poised to enter the Indian market in 2010, it seems Royal Enfield has already started to fortify its presence in the Indian market.