KOCHI: As part of its target to double its existing business by 2020, helmet makers Steelbird Hi-Tech India will invest Rs 500 crore to set up a 16 lakh sq ft manufacturing plant. The company is in talks with many states, said Shailendra Jain, Steelbird’s global group head, sales and marketing, adding that the plant is likely to come up in Rajasthan. The initial investment will be Rs 175 crore and in total Rs 500 crore will be invested in the plant, which will have a capacity to produce 60,000 pieces a day, he noted.
“One of the biggest challenges in India is to face counterfeit and fake products. Nearly 80 per cent of helmets in the markets are either non-ISI or spurious ISI. Indian two-wheeler industry has maximum share of motorcycles, creating a huge market for biking gears. However, riders have hardly any choice if they wish to buy authentic,” Jain added.
He said the company would open within the next two years 200 Riderz Shoppee across the country out of which 50 will be in south Indian cities such as Kochi, Bengaluru, Mysuru, Udupi, Chennai, and Hyderabad, where biking is a passion, more than commuting.
Kochi, Bangaluru, Guwahati, Pune, Hyderabad, Panjim and Ludhiana are known bikers’ hubs, where people have a fascination for bikes. Youngsters are found using superbikes and trendy bikes these days. ‘’To ride these bikes, one must have riding gears which we will provide through these Shoppee’s,” he said.