How does iconic motorcycle brand Royal Enfield conceptualize its fashion portfolio?
Royal Enfield, an iconic motorcycle brand. After making classics for avid bikers, Royal Enfield, India’s most beloved motorcycle brand, has taken it a step further by offering a wide range of clothing and accessories specially designed for riding that can also be worn on the go. leisure. The range of clothing is meticulously designed for people who consider driving a pleasure more than just a hobby. In an exclusive conversation with Puneet Sood Head, Apparel Business, Royal Enfield, he shares more badges from this case.
What is your assessment of the horse riding equipment market in India? In your opinion, what are the growth factors of this segment??
As today’s cyclist is more aware of the need for safety and still keen to express himself through the clothing he wears, our offerings focused on safety, comfort and style have seen great traction. While there are options of driving equipment on the market, in my opinion, the Indian market is still underserved in terms of credible offerings for value for money. Additionally, a lot of horse riding equipment available in India is not customized for Indian terrain or weather. We intend to bring a relevant offer for motorcycle enthusiasts, with an emphasis on safety, comfort and style, which in turn should propel the growth of the category. According to Techsci Research, the horse riding equipment market is expected to grow at a CAGR of over 12% to exceed $ 43.6 million by 2023 and thus offers immense opportunity for growth.
How would you sum up Royal Enfield’s journey in India so far? What kind of growth has the brand seen in the apparel segment?
The trip was absolutely thrilling! Our motorcycles have been a symbol of freedom, adventure and exploration. For us, motorcycles are not just about motorcycles, but the motorcyclist’s way of life. Our ambition as a company is to be the path of the biker in his quest for exploration and to help him express his love for the motorcycling lifestyle. We aim to further strengthen the pure motorcycle brand message, increase accessibility for consumers and help them explore and express themselves better. We have come a long way in propagating and engaging with our riders on our pure motorcycle philosophy and will continue to build relevance around the motorcycle lifestyle. In terms of revenue, we have exceeded our expectations and continue to grow much faster than the industry growth rate.
What is the price and the TG of the clothes for Royal Enfield. How many categories do you have in this segment? In the future, what are the plans for the expansion of the category?
Providing a relevant and accessible range of motorcycle clothing and riding gear with an emphasis on safety, comfort and style is one of Royal Enfield Apparel’s priorities. The idea behind the development of the portfolio is to offer a relevant range for our cyclists whatever the terrain, weather conditions and destination. We are fortunate to have the love of a great riding community who are constantly engaging with us and giving us feedback, helping us to strengthen the relevance of the range we offer. Our offer consists of lifestyle clothing and protective equipment. In the recent past, we launched the Street Windcity Riding Jacket with CE approved armor which we believe is one of the most competitive offerings on the market to date (priced at Rs 4,500). This is a fully mesh jacket specially designed for Indian weather. Royal Enfield’s most technical and versatile jacket, Khardungla (priced at Rs. 14,000) is an all-weather jacket with three-layer construction and is intended for long-distance riding. We have also built the suitability of the motorcycle in the lifestyle range that we offer. Our lifestyle riding shoes are equipped with ankle and toe protection. Likewise, our lifestyle jackets are designed to accommodate armor in case the rider chooses. The reflective element has remained a priority throughout the entire lifestyle range we offer, which helps to improve the rider’s visibility on the road and thus helps them stay safer.
What type of distribution is planned for the clothing segment? In the future, what are the plans to increase distribution?
To ensure that our range of riding clothing and equipment is easily accessible to all bikers and motorcycle enthusiasts, we have taken a multi-channel approach and are available online as well as in retail stores across the country. Our largest physical footprint is the availability of our range at all Royal Enfield dealers. To add to this, we are also available in some locations with our business partners – Central. Our consumer can choose to buy our range online through our own online channel – store.royalenfield.com or our partners like Amazon, Flipkart and Myntra.
Who do you see as your competitor in the same space?
We started the business with the intention of improving the motorcycle experience for our riders and further promoting our pure motorcycle philosophy. We have developed a niche for ourselves and are happy with the current situation. I am sure we are moving in the right direction.
Finally, thank you for highlighting your growth plans?
We have exceeded the targets we set for ourselves and the outlook for the company remains extremely positive for the future. However, we would like to measure ourselves not only in terms of the revenue we are able to generate, but also the relevance we are able to create for motorcycle enthusiasts. Our constant effort is to offer a complete and accessible range of clothing and riding equipment for cyclists with an emphasis on safety, comfort and style. This allows us to act as a catalyst in a motorcyclist’s pursuit for the motorcycle lifestyle.