Eicher Motors Ltd, the maker of Royal Enfield classic motorbikes, on Friday said the company is planning to take bike and tractor business global.
In an interview to CNBC-TV18, Siddhartha Lal, managing director, said, "The future for Royal Enfield firstly is really in becoming a global brand. We haven't had a global consumer brand, we have had B2B brands, but not the consumer brand and that is where the next 10 years are and really even for a truck business it is not very different."
He said, "The aspiration is that in every country that we enter, we want to become a big player. We want to be 10 percent of the market. We want to be the biggest player in the mid-sized market in developing markets as there is a huge base of commuters in Brazil, Thailand and Indonesia. In Thailand, for example, we were one or two stores in the last few years and this year, we will be 10 stores. In Brazil, we will be 10 stores, so we are really expanding and each of those stores is giving us 500 plus units so the expansion is real and it is happening."
Lal said, "India is market number one, two, three, four and five and after that everything else comes. So, there is no question at all that India is going to be the top priority for decades to come. It is also the base and the foundation on which we have the strength to go anywhere else. So, India is our strength and our home market."