Helmet maker Steelbird, India's largest helmet brand, has chalked out a two tier expansion plan to become Rs 500 crore player by next year.
To achieve the target, the company is also focusing on the merchandise segment apart from helmets.
The company is set to launch Valentino Rossi racing apparels in India. Valentino Rossi is a popular brand in the overseas and named after world famous speed driver of MOTOGP world Championship.
Besides, it has invested about Rs 10 crore in Noida plant to manufacture merchandise items, including seat covers, gloves, raincoats, trousers etc, Steelbird MD Rajeev Kapur told Business Standard. The plant has already started supply of seat covers to a two-wheeler major.
"The Noida plant would also cater to the export market in the coming months," he informed.
Steelbird has tied up with technology partners to produce helmets based on NASA technology, which is used for space suits worn by astronauts. These helmets would be marketed under a new brand.
Meanwhile, the company is gearing up to expand its manufacturing capacity at its existing facility in Baddi, Himachal Pradesh.
Uttar Pradesh contributes 8-9 percent of the pan-India helmet market size.
Kapur said the helmet market in India was still dominated by unorganised sector to the tune of almost 80 percent, since it offers greater margin to the retailer, although at the cost of riders' safety.
Steelbird has also planned to open Steelbird Exclusive Riderz Shoppe in Lucknow and Kanpur to showcase its entire range. Similar outlets would be opened in other major UP towns, including Gorakhpur, Varanasi and Meerut.
