Royal Enfield eyes a presence in developing markets
27 May 2011
With a revival of interst in its iconic brand, Chennai-based motorcycle maker, Royal Enfield hopes to position itself in developing markets where it expects to do well owing to its success in India.
It has targeted exports to contribute to around six per cent to its annual sales by 2012.
The maker of the oldest motorcycle brand in India, which were first assembled in the country in 1955, is eyeing a presence in 40 countries worldwide by 2012, predominant among them several developing countries.
Venki Padmanabhan, CEO, Royal Enfield, said, ''Interest in our brand in developed markets such as the US, UK, Germany, Italy, France and Australia stems from the desire for some to own a piece of history; a true British single.''
Padmanabhan says when aficionados discover that "vintage styling can be had at an attractive less-than-antique price, the interest heightens. "Then, when they ride a Royal Enfield and are thrilled by the way in which their senses are engaged, they reach to find the rational reason to buy."
He says the company is now figuring out the right brand and value positioning needed to appeal to the vastly untapped "developing country" markets.
