A part of the USD 2.4 billion Murugappa Group, TI Cycles of India (TICI), has launched its first company-owned store named BSA Go in Hyderabad and is planning to invest around Rs 30 crore as part of its retail expansion to touch 120 stores mark country wide by March 2009.
Elaborating this plan, BK Singh, vice president – sales and marketing, TICI, said, “As part of our retail expansion, we will invest around Rs 30 crore. Now, we have been operating 38 stores, 37 franchises and one company-owned store across the country and the idea is to touch 120 stores mark by March 2009.”
“Out of these120 exclusive retail stores, 15 would be company owned as it allows us to go closer to our customers and get direct response from them to improve our product quality,” added Singh.
While addressing the press conference, Singh said, “Consumers from the twin cities of Hyderabad and Secunderabad will benefit from our exclusive store in Hyderabad. The store will offer a premium buying experience and quality service.”
“By opening the BSA Go stores in metros, we intend to target urban youth who are inclined towards fitness, sports and health.” added Singh.