Global premium bicycle and accessories maker Giant opened an outlet in Bangalore today, which is its second in the country, to tap the 100 crore domestic premium segment market through its channel partner Starkenn Sports, it was officially announced here.
The new dealership Giant Starkenn Cycling World would be the sole distributer and authorised marketing agency of the Giant brand in Bangalore, a press release said.
The domestic bicycle industry which is approximately a worth Rs 2,000 crore in size, sells approximately 15.5 million units annually with the premium segment accounting for only five per cent of sales, the release said.
Giant Starkenn Cycling World has been set up as the biggest bike experience centre in the city spread across 3,200 square feet, showcasing some of the firsts for bikes such as a simulator, spa, library, cafe and a huge range of bikes from the Giant's stable, the release said.
Along with launching the outlet, Giant also unveiled the Propel Advanced SL 0 bike for the first time in the country.
"Though the premium bicycle market accounts for a little over 1 per cent of the total number of bicycles sold in the country annually, the segment is growing over four times the industry average.
"With the Giant Starkenn Cycling World in the city, we want to indulge Bangalore's growing affair with green wheels," Starkenn Sports Pvt Ltd Managing Director and Chief Executive Pravin V Patil said in the release.
Sharken Sports plans to provide access and exposure to an assortment of physical activities without the negative undertones people often associate with the word "exercise", he said, according to the release.
The company has an exclusive range of bicycles starting from Rs 18,500 to Rs 10.59 lakh, with features like advance technologies, carbon frames and frame geometries, the release said.
