TI Cycles gets licensing rights for Ridley Bikes in South Asia

Murugappa Group firm TI Cycles of India today said it has acquired the brand licensing rights of Ridley Bikes Belgium, a leading bicycle brand in Europe, for India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar.
The licensing rights for a period of 33 years will strengthen market share for TI Cycles of India in the premium bicycles segment and will also establish Ridley as one of the leading global brands in India, the company said in a statement.
Commenting on the partnership, Ridley Bikes Chief Executive Officer Jochim Aerts said:"Moving forward, our focus will be to grow this segment in line with the needs of the Indian consumers."

Both the companies plan to undertake a series of programs in India to promote the culture of professional cycling and also provide a platform for Indian riders to get global exposure, the company said.
"At TI Cycles, we are committed to bring to Indian consumers the best in innovation and technologies. We are confident Ridley bicycles will infuse fresh dynamism to our commitment to India and the Indian consumers," TI Cycles of India President Arun Alagappan said.
TI Cycles said it plans to expand its reach of Premium Track and Trail and Ciclo Cafe stores up to 50 outlets by 2017 from its present 12 outlets.

Ridley Bikes Belgium was established in 1990 and today is considered one of the leading innovators in Bicycle Technology in Carbon and Alloy for key segments of Road, Cyclocross and MTB.