Premium bicycle brand Giant has entered the Indian retail market this week with the launch of its first showroom in Mumbai, to be operated by Indian retail player Element Retail. According to Element, it will have the right to distribute Giant bicycles pan-India.
Giant Manufacturing Co. Ltd, the maker of Giant, is a Taiwanese bicycle manufacturer and is considered one of the world’s largest OEMs in the segment. Giant products sold in the store are mostly in the ultra-premium range priced between Rs 35,000 to as much as Rs 10.8 lakh, according to reports.
“The athleisure and fitness sector in India has gained tremendous popularity in recent years as more and more people have become fitness enthusiasts giving a huge scope for Giant to grow in India. According to ‘India Bicycle Market Outlook, 2021’, bicycle market size crossed Rs 5000 crore mark in 2015. There is a huge demand and great potential for international bikes that are a perfect blend of innovation and technology,” noted Aditya Bafna, managing director, Element Retail.