How This Startup Is Giving a Jet Ride On a Bicycle
The demand for bicycles grew by 20 per cent in the period 2020-21 led by demand for premium and children's bikes, says Sachin Chopra, co-founder and CEO, Ninety One Cycles
Do you remember your long rides on a bicycle as a child? From a kid's play to an uphill task of ascending a mountain, these two-wheelers are now equipped with facilities that help people explore new avenues. Established in 2015, Ninety One Cycles is one of the active lifestyle brands in India. "Our vision is to create a world class outdoors brand that is made in India, made for the world," said Sachin Chopra, co-founder and CEO, Ninety One Cycles.
Ninety One embraces a variety of bikes in its portfolio including electric cycles, performance bikes, mountain bikes, fat tyre bikes, hybrid bikes and kids' bikes.
"We want to focus on sectors that would appeal to millennials and Gen-Z and a product where we could implement our engineering skills. So, the cycling industry emerged as the obvious choice, as the industry was ripe for disruption with a lot of scope to scale. The demand for bicycles grew by 20 per cent in the period 2020-21 led by demand for premium and children's bikes."
The brand has a presence in more than 1000-plus retail stores across 500 cities in India and an extensive omni channel distribution strategy. "Customer delight is one of the primary goals of our brand with a focus on acquisition, servicing and post purchase engagement."
Ninety One's primary vision is to offer a $1,000 ride experience at a $150 price point. "In an industry where most brands assemble bikes rather than manufacture them, we design our cycles by engineering all of the components and crafting a product that is affordable for the consumer whilst providing a great riding experience."
The brand has a D2C model and an omnichannel distribution strategy. The company offers consumers the option to buy from our website and from e-commerce websites apart from the 1000 retail points across the country. "Roughly 25 per cent of our business comes from online through our own website and marketplaces. Most of the consumers who buy offline have already seen our products on our websites to make an informed decision."
The company has recently closed its Series A funding of $30 million from marquee investors such as Avaana Capital, Titan Capital, A91 Partners and Fireside Ventures. The amount will be invested towards the state-of-the-art manufacturing facilities in Gujarat, e-cycles portfolio and expansion into global markets.