| Moreover, it has plans to expand its sales network from 14 to 24 in the present fiscal and is set to sell 10,000 bikes in India in the current financial year. |
| Also, the Firefox team, comprising five members, is participating in the mountain bike rally--MTB Himachal 2006--organised by the Himalayan Adventure Sports and Tourism Promotion Association, and supported by the Department of Tourism, Himachal Pradesh. |
| Speaking on the sidelines of a press conference, Shiv Inder Singh, managing director of the company, said: "There is an annual demand for 15 million bicycles in India. As these are high-end bicycles, we are targeting 0.1 per cent of the total demand. Moreover, with the kind of response we are getting from the market, we are hopeful of achieving the desired target." |
| Commenting on expansion plans, he said, "The company will strengthen its presence in India by opening 10 more outlets in the current financial year. We are looking at the high-end leisure market and want to offer to the user a different value proposition, not offered by utility or commuting bicycles." |
| "In addition to opening dealer locations in the up-market localities, we are also in talks to schools, companies, and adventure sports companies for the supply of products in the championship range," Singh said. |
| He said: "There are no plans to make bikes or assemble its parts in India. They come from the company's Taiwan units. The volumes simply don't justify a manufacturing base in India, nor is assembling attractive because the import duty structure is the same for both components and finished product." |
| He, however, said the company might import exclusive components and assemble them here for the top-of-the-line products. |
| In addition to the bicycles, the company would also introduce accessories such as helmets and bike-carriers in India, Singh said. |
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