Classic Legends aims to revive the BSA Motorcycles brand. The company is also aiming to enter the electric motorcycle segment with an investment of 4.6 million pounds awarded by the UK government. The company has received the amount from the UK government as part of its low carbon automotive initiative, the company reported.
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Besides introducing electric motorcycle to revive the BSA Motorcycles brand, Classic Legends also aiming to expand its retail outlet network significantly. The company aims to have a network of 500 dealerships across India in the next one year. Currently, the company has 187 dealerships across 150 cities, selling retro-styled motorcycles in the quarter-litre category.
Indian automobile brand Mahindra & Mahindra struck a deal with iconic Czech motorcycle maker Jawa in 2016. This deal allowed Classic Legends to introduce motorcycles under the Jawa badge across several countries.
Currently, Mahindra & Mahindra owns a 60% stake in the company. The remaining 40% is owned by Anupam Thareja, founder of Classic Legends; and Boman Irani, chairman and MD at Rustomjee Group.
Ashish Singh Joshi, CEO at Classic Legends, said that the company’s efforts to ramp up production to cater to demand was heavily affected by the lockdown restrictions, especially at its supplier end. “While we have enhanced our capacities and capabilities, some of our suppliers, especially in the western region, were severely affected by the pandemic. Our deliveries also suffered due to dealerships complying with the restrictions in April and, even more so, in May,” he further said to news agency PTI.
While talking about the network expansion strategy, Joshi said that the company started predominately with metro and tier-1 cities. These areas suffered the most during the second wave of the pandemic. “We have a massive demand for our dealerships and are utilising that to focus on expanding into smaller towns. Our aim is to establish 275 dealerships by August this year, on our way to 500 dealerships in the next 12 months,” he further added.