TI Cycles to open 120 stores by March 2009

Hyderabad: TI Cycles of India, part of the Murugappa Group, as part of its retail expansion plan intends to open 120 exclusive stores across the country by March 2009.

“Currently we have 38 stores, 37 franchises and one company-owned store, across the country and the idea is to touch 120 by March 2009. The company will invest around Rs 30 crore for the retail expansion,” Mr B.K. Singh, Vice-President (Sales and Marketing), TI Cycles of India, said while addressing a press conference here on Thursday.

Mr Singh was in the city to inaugurate the company’s first BSA Go Coco (company-owned company operated) store in Hyderabad.

According to Mr Singh, around 90 per cent of the new stores will be franchises and the rest will be company owned and operated. He added that the idea behind opening Coco stores is to collect information from customers and improve the product offering.

“The BSA Go Coco stores will be located in leading metros, targeting the urban youth who are inclined towards fitness, sport and health,” Mr Singh said.

According to company officials the unique feature of the stores includes, a one-stop premium store for all bicycling, fitness equipment, sports and infant products.

He also said out of the 10 million cycles sold across the country each year in the organised sector, the company enjoys a 28-30 per cent market share.

The company has a manufacturing capability of 35 lakh cycles a year.