Trek Bicycle to strengthen presence in North India

Press Release

Trek Bicycle

New Delhi, May 21, 2018

Trek Bicycle, one of the world's leading bicycle companies is looking to aggressively expand its retail network in North India. The American bicycle brand is already available at retail locations in 100 countries worldwide and is looking to strengthen its presence in major cities in North India, including Gurugram, Noida, Dehradun, Chandigarh, Jaipur and Udaipur.

Trek, who already has more than 26,000 consumers across India; recently launched its 100% subsidiary operations. Known as one of the most technologically advanced bicycling company in the world, Trek currently offers 42 bicycle models across Road, Mountain, and Hybrid categories along with a wide range of Trek and Bontrager parts, accessories, merchandise, and riding gear and is already available in 15 stores across Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Haldwani, Visakhapatnam, Ludhiana, Mangalore, Nagpur, Nashik and Indore.

Navneet Banka, Country Manager, Trek Bicycle India said, “India is a key market for Trek. We are now in India as a 100% subsidiary and are looking at changing the way the trade of cycling works in the country by providing partners with best products in the world, state of the art enterprise resource planning software for streamlining and easing business processes. We are looking at retail partners not only from the cycling industry but are open to partners from the lifestyle and fitness segment; who are enthusiastic about fitness and cycling while providing a great buying and ownership experience to consumers.”

He further added, “We have a simple online application for anybody who wants to partner with us. As part of the new dealer process, we have detailed discussions with prospective candidates at our Corporate Office in Gurgaon, talk about our growth strategy for India and the investments involved in the retail business. We will keep on expanding and would like to double the current number of stores by December 2018. Going forward, we would like to add 25-30 retail stores across India every year for the next five years.”

The total market size in India is 16.3 million cycles per year. The premium segment has been growing at the rate of 25-30% in the past 5 years and is projected to grow at a similar rate over the next 5 years.

For more information, please visit https://www.trekbikes.com/in/en_IN/

For further information, please contact:

Shaida Sharma

M: +91 9654160670

Email - shaida.s@prpundit.com