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City-based start-up AlphaVector on Thursday announced partnership with European bicycle maker KTM to launch the latter's premium bicycle range in the country.
With this partnership, AlphaVector launches and becomes the exclusive distributor of KTM bicycles in the Indian market, the company said in a statement.
Priced between Rs 30,000-10 lakh, the premium segment will expand AlphaVector's portfolio beyond the recently launched e-bicycle (Meraki) and existing mountain, all-terrain, hybrid, fat-tire bikes in the mass-premium segment, it added.
"Cycling in India has seen a paradigm shift and is evolving at a tremendous pace. The premium segment is witnessing traction with people adopting cycling as a lifestyle especially in the metro cities," said Sachin Chopra, co-founder and CEO of AlphaVector India Pvt Ltd.
"We are excited to bring KTM bicycles to India to cater to this growing demand and not just deliver unmatched quality and performance but also an exceptional buying and ownership experience," Chopra added.
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The tie-up with KTM Bike Industries is in line with the company's vision to introduce millennials and Gen-Z to an active lifestyle, encouraging them to reclaim the outdoors, AlphaVector said.
"For 56 years, we bleed orange. KTM Bike Industries keep the highest standard of making bikes and never stop exploring. It's our pleasure to partner with AlphaVector to introduce our prime bike to Indian market," KTM Bike Industries Managing Directors Johanna Urkauf and Stefan Limbrunner said.
KTM's high-quality and performance-driven portfolio combined with AlphaVector's unique omnichannel business model will aim to cater to this growing segment, the statement said, adding that as much as 75 per cent of the demand is expected to come from cities such as Delhi, Mumbai, Bengaluru, Chennai, Pune, Hyderabad.
AlphaVector has a presence across over 350 cities with a strong retail network of over 700 stores.
Founded in 2015, the bicycle maker, which has got investments from Fireside Ventures, Avaana Capital and Titan Capital, had early last month forayed into the e-bicycle segment, rolling out its Meraki Brand in the country.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
