Building the cycling culture
MTV & Firefox launch co-branded bikes to target the younger lot.July 18, 2012 | comments ( 3 ) |
MTV in association with Firefox launched co-branded bikes in the adventure category. The latest range was unveiled in the presence of Shiv Inder Singh, Managing Director, Firefox Bikes and Sandeep Dahiya, Sr. Vice President- Consumer Products, Viacom 18. The bikes were launched by MTV VJs Bani J, Rannvijay, Nikhil Chinappa and Roadies season nine winner, Vikas.
Shiv Inder Singh, MD, Firefox said, “For Firefox, the biggest selling segment is that of years nine to 14 and the segment ranging from year 24 and up. With this association with MTV, we wish to cater to the missing segment ranging from years 14 and up where kids lose the charm of biking.”
The series includes four models Thor, Smoke, Dirt and Hades, priced in the bracket of Rs 6,000-16,000. The company targets at selling 5,000 pieces this year and the collection will be made available across the country.
Sandeep Dahiya, Sr. Vice President- Consumer Produc, Viaocom 18 says, “Any licensing agreement works on a royalty of eight to 13 per cent, depending on category of the product. With this deal, we shall gain in terms of revenue and the opportunity to engage with customers. They can now move beyond just watching the channel to wearing, smelling and driving the brand."
Firefox looks at adding 25 new stores every fiscal and would be doing the same this year as well with increasing presence in areas where it is not present. It has presence in Mumbai, Delhi NCR, the smaller towns in North India which it had not tried before like Panipat, Sonepat, Rohtak and so on. The brand has also established itself in Southern and Western parts of the country. Singh adds, “It is quite amazing that even the expensive range of bikes are selling very well in the B and C level towns." He adds, “The niche biking segment holds a five per cent share of the market and of this, Firefox commands over 40 per cent of the market. This year we are targeting at selling 50,000 bikes. Our production is being carried out from Sri Lanka and that is where we import our bikes from.”
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