Expanding its footprints in international markets, Chennai-based motorcycle manufacturer Royal Enfield announced its entry into Vietnam, the world’s fourth largest two wheeler market. In its continuous efforts to expand its presence in South-Asian markets, Royal Enfield inaugurated its first flagship store in Ho Chi Minh City (HCMC), Vietnam. This shows the company is focused on its growth strategy and international thrust to expand the mid-sized motorcycle segment (250-750cc) globally. Royal Enfield has presence in Indonesia through two exclusive stores in Jakarta and at Bali and also has the first exclusive gear store outside India at Jakarta. In Thailand, Royal Enfield currently has an exclusive store in Bangkok.
Earlier this year, Royal Enfield commenced production of its motorcycles from its third manufacturing in Vallam Vadgal near Chennai that produces motorcycles for both domestic and international markets. The company has exported about 8,561 units between April-September 2017 period reporting a growth of 17.6% over the same period in 2016. To support further growth, the company will further invest Rs 800 crore during this fiscal to focus on plant expansion at the new plant, new product and platform development.
Speaking on this strategic foray, Rudratej (Rudy) Singh - President Royal Enfield said, “Royal Enfield endeavours to reinvent and lead the global mid-size motorcycle segment, and South-East Asia is a critical market for us in this global strategy. This segment is expanding in India and is a huge opportunity for Royal Enfield across the world. Vietnam has a large population that is young and commutes on two-wheelers, and is now aspiring to adopt the right medium of self-expression and exploration. With a strong heritage behind us, Royal Enfield offers motorcycles that are evocative and fun to ride, and at the same time, practical, functional and accessible for everyday use. With its vast landscapes and countryside, Vietnam is an ideal destination for pure motorcycling experiences. We hope to fuel the culture of exploration and leisure motorcycling with some of our best motorcycles in Vietnam”
In Vietnam, Royal Enfield has partnered with Al Naboodah International (VN) as its official dealer in the country. Initially the company will sell its Bullet 500, Classic 500 and the Continental GT 535 cc.