The riding gear segment in India is growing very quickly. The market was around US $ 21.4 million in 2017 and as it is projected to grow at a CAGR of 12 per cent, it will be US $ 43.6 million by 2023.
Keeping this in mind, market leader in mid-size motorcycle segment, Royal Enfield, is hopeful that its apparel and accessories’ business will continue to perform well in the coming years.
Its partnership with leading denim leader Levi’s has been very fruitful and in the near future, Royal Enfield plans to expand this business in the global market.
Puneet Sood, Head – Apparel Business, Royal Enfield says, “Our growth numbers are higher than industry growth, telling us that we are moving in the right direction and launching the right products.” He didn’t share specific numbers about growth.
It is pertinent to mention here that motorcycle-related products, be it jackets or helmets, help in creating an ecosystem and brand loyalty, which ultimately aids the core business.