Latest News – Royal Enfield (RE) is planning to almost double its exclusive retail presence in the international markets as part of its expansion strategy overseas. Enfield has identified four core markets overseas — Thailand, Indonesia, Colombia and Brazil — which could become very large markets for the company over a period of time.
Siddhartha Lal, managing director and CEO, Eicher Motors Ltd said that so far the company has opened around 25 exclusive stores overseas and plans are to add another 20-25 stores during this year.
During the investors call Lal said, outside of North America, Europe and Australia are more mature markets, which will be on a hopefully good trajectory but not for an exclusive growth one.
In Colombia the company has 5-6 stores, but in the rest of the countries it only has one store each right now.
“Right now, we are just learning and expanding in these four core markets for us. Any of these or all of these could become very large markets for us over the next decade. So really it is these four core markets that we are expanding on,” he said.
The company is adding single stores in couple of other markets also, which hopefully by a year or two they will mature so that it can then take action in that country and expand. Enfield is putting in enough pipeline so that once some of these (Read More)