British iconic motorcycle manufacturer Triumph on Tuesday said it will enter the Indian market and has appointed Royal Enfield's ex-Europe head Ashish Joshi as its Managing Director for India.
"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," Triumph Motorcycles UK Chief Executive Officer Nick Bloor said in statement.
The appointment of Joshi is a signal of the company's seriousness about success in India, he added.
Prior to joining Triumph, Joshi was heading the European operations for Royal Enfield and established the company's business in Europe. He has over 16 years of experience in Asia and Europe, the
statement added.
The company, however, did not specify any timeline for launching of its products in India. It also did not elaborate whether the bikes would be imported or assembled in India.
In the past, Triumph has been linked with Bajaj Auto for a possible stake acquisition or alliance which never happened.
Established in 1902, and now based in Hinckley, Leicestershire, UK, the company is known for its broad range of bikes, including the 2.3 litre Rocket III, Speed Triple, Daytona 675 and the recently launched Tiger 800.
The price of its different models ranges from about 6,650 pounds (about Rs 4.77 lakh) to 12,650 pounds (about Rs 9 lakh) in the UK.
The Indian super premium bike market has been attracting global players and companies like Harley Davidson, BMW Motorrad and Ducati have already set up shops in India.
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"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," Triumph Motorcycles UK Chief Executive Officer Nick Bloor said in statement.