RE has opened 500 small studio stores for wider consumer access.
Royal Enfield expects sales volumes of the popular Bullet bikes to accelerate, possibly in double digits. The confidence is backed up by record retail sales in October that comes after sales declined in double digits this year. The company believes that they can get back to double-digit growth led by sustained product action and increasing reach, both locally and internationally.
Royal Enfield has come out with a new vision called Royal Enfield 2.0, which consists of 4 broad action points – expanding the product range, geographical reach, solution selling and leveraging the digital platform to build a ‘global consumer brand from India’.
As per Royal Enfield, the drop in sales is due to lack of new products and the downturn. The brand also introduced new entry-level variants such as Bullet X and Classic Signals apart from opening small studio stores for wider consumer access.
About 500 small Studio stores have been set up in the last six months and the studio stores already account for 10% of the company’s monthly sales. Interestingly, 90% of its stores have already broken even in three months with each store averaging about 12 to 15 bikes a month.
– Royal Enfield expects sales volumes of the popular Bullet bikes to accelerate
– The brand has come out with a new vision called Royal Enfield 2.0
– About 500 small Studio stores have been set up in the last six months
Source – ETAuto