New Delhi, Sep 10 (UNI) US-based Trek Bicycle Corporation today said it expected a spurt of 25-30 per cent in revenues annually by 2013 and will introduce a new model every year in the price range of Rs 16,000-Rs 20,000 over the next five years for the Indian market.
''We are sure of success in the Indian market. The company will launch a new bike on a yearly basis in the next five years to increase our share in this growing market, which will help the company to achieve its target of growing revenue 25-30 per cent annually over the next five years,'' Trek Territory Manager Jay L Moncel told UNI.
The company generated revenue of half-a-million dollars from India last year.
The 750 milion dollar company has tie-up with Noida-based Firefox Bikes Ltd for distribution of its product in the country.
Presently, the company has 12 models in the Indian market including the today's launch of '3700 WSD' at a price of Rs 16,000, which is specifically designed for women.
This fairer sex bicycle features include short top tube, short stems, narrow handlebars, short crank arms length, wider saddle and short reach brake levers.
UNI MP SR GC1820