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Tube Investments has launched a new brand of bicycles that will be exclusively sold online, as part of a novel initiative in the domestic market.
As part of the e-commerce move, the Murugappa Group has launched Brooks Bicycles for children and adults. These can be purchased through an e-store, BrooksBicycle.com . Brooks brand is part of Tube Investments’ portfolio and was earlier associated with bicycle accessories, particularly leather saddles.
Tube Investments hopes to be an early mover in the nascent online market for bicycles in India. It is initially launching the e-store in Chennai, Bengaluru and Hyderabad from today, said L Ramkumar, Managing Director. The concept is a product of the company’s Corporate Strategy Group, a think-tank and incubator that works on innovating concepts to grow its businesses.
The company hopes to target the millennial segment, youngsters who are open to online purchases. The online store will offer nine models in prices ranging from ₹5,299 to ₹10,625, including bicycles for kids and MTBs and city bikes for road use apart from accessories such as helmets and lights.
TI Cycles, a division of Tube Investments, sells about 4.5 million cycles annually in a market estimated at 16 million.
Online sale is an untapped segment which the company hopes to grow with a dedicated team and product line, Ramkumar said. Brooks Cycles will be sourced from Sri Lanka and Malaysia. Apart from value for money, alloy frame cycles at entry level prices, seamless purchasing experience will be unique selling proposition for Brooks Cycles, he said.
KC Ramamoorthy, Vice President – Corporate Strategy Group, Tube Investments, said online bicycles sales has caught on in most developed markets. It is typically 8-12 per cent of the total market sales. For example, in the US, a market estimated at 18 million cycles, online sales accounts for about 8-10 per cent. An online bicycle store, Wiggle has a business of about €300 million. But in India, online cycle sales is negligible.
BrooksBicycle.com has huge headroom for growth. It will provide a hassle-free experience. Buyers will get a 95 per cent assembled bicycle which will be made ready-to-ride with trained staff coming to the buyers’ doorstep. The company has tied up with Jeeves Consumer Services, an after-sales service provider, for assembly and repair service, he said.
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