Niche bike maker Royal Enfield has announced its decision to foray into the South Korean market. The Chennai-based company, part of Richer Motors, entered the country by opening its first flagship store in Seoul in partnership with Vintage Motors (Kiheung International) as its official distributor partner. The company has already entered various markets globally over the last few years. The latest expansion in the east Asian nation is considered to be the manufacturer's strategy as it aims to lead the global 250-750 cc middleweight motorcycle segment. Apart from the motorcycle range, Royal Enfield's first exclusive showroom in the heart of Seoul will also have a collection of its gear range, apparel, accessories and many more.
Speaking to media, Royal Enfield APAC Business Head Vimal Sumbly said, "Our focus is to sustain and expand our reach in International markets especially in Asia pacific region. Royal Enfield has seen consistent growth in the APAC region with a 20 per cent year-on-year growth. Korea is an important chapter in the growth story and we are thrilled to commence business here. We fully committed to focus all our energies on becoming part of the fabric of this country's rich motorcycling culture".
"We are honoured to partner with Royal Enfield and bring their passion for motorcycling to customers across Korea. Royal Enfield motorcycles will offer Korean two wheeler riders an opportunity to upgrade to a robust long-distance, leisure riding culture with its modern-classics machines, that are brilliant for long rides on the highway at the same time perfect to commute in heavy traffic in the city," Pablo Lee Jr., CEO of Kiheung Motors was quoted as saying.
To kick start its operation in the Asia-Pacific region, Royal Enfield will be retailing three motorcycles from its complete line-up which include the Bullet 500, Classic 500 and the Royal Enfield Himalayan. While Royal Enfield Bullet 500, one of the oldest model from the company, is priced at Rs 3.3 lakh, the Classic 500 is sold for Rs 3.63 lakh. Whereas, the Royal Enfield Himalayan is currently offered at a price of Rs 3.02 lakh in South Korea.
The bike maker, which made its presence in over 50 countries so far, currently has 38 exclusive stores in cities like London, Paris, Madrid, Sao Paulo, Milwaukee, Bogota, Buenos Aries, Dubai, Jakarta, Bangkok, HCMC and now Seoul. Talking about India, Royal Enfield manages its operations through a network of over 850 dealerships.
Some of the latest launches from the company include the highly anticipated Continental GT 650 and the Interceptor 650 motorcycles among others.