TI cycles launches fitness products, aims Rs 50 cr profit

New Delhi, Oct 17 (UNI) Aiming to garner Rs 50 crore profit within the next three years, Chennai-based TI Cycles today launched its fitness equipment product, 'BSA Workouts' for the fitness-centric consumers here.

''Expanding the product portfolio, the new range of fitness equipment is targeted at the fitness conscious urbanites, particularly in the age group of 25-40 years, looking to workout at their convenience,'' TI Cycles (India) President G Ramprasad told reporters here.

Mr Ramprasad said 10 models have been unveiled today, and the full range will be available in the top 20 cities by March next year.

The BSA Workouts range consists of the exerciser cycles, recumbent bike, elliptical trainer, motorised treadmill and the home gym.

The prices of these equipments range from Rs 20,000 - Rs 1,50,000.

Besides, TI also unveiled its fitness portal, www.ticyclesindia.com/bsaworkouts, which will provide right information on fitness and will help the user select the right equipment for the specific needs.

Also, a unique metric called the 'fitness quotient' has been designed to measure the fitness levels of the individual and help objectively track progress.

The equipment will be sold through 'BSA GO' retail stores, presently 8 across the country, and other key dealers.

BSA GO stores are: one in Ahmedabad, Bangalore, Gurgaon, Trissur (Kerela), Noida each and three in Chennai.

Country's second largest manufacturer of bicycles TI Cycles (India) is a division of Tube Investments of India (TII), a flagship company of the 1.6 billion dollars Murugappa Group.

The company's registered a annual turnover of 464 crore last year with a production capacity of about 2.5 million bikes, Mr Ramprasad said, adding that the company expects to reach the 500 crore mark turnover this year with the appropriate increase in production.

Mr Ramprasad said the company's market share is 33 per cent out of the Rs 1,700 crore bicycle market.

He, however, said that the company was planning to expand its BSA GO retail stores from 8 to 20 by the end of this year. He said that the stores will be scattered across the country, thereby declining any region specific possibility.

UNI SBA DKS BD1734