New Delhi: Bicycle maker Atlas Products Pvt. Ltd has tied up with Taiwan-based Merida Industry Co. to sell their high-end bicycles in India.
The company aims to sell about 3,000 Merida bicycles a month in two years, director Ashwath Kapoor said.
Merida bicycles will have an average price of Rs15,000, while the most expensive one will cost about Rs29,000.
“The company plans to open 25 Merida stores in the next two years at an investment of Rs20 crore,” he said.
Merida bikes are among the biggest manufacturers of the high-quality bicycles in the world covering 55 countries, Kapoor said.
Atlas Products, which sells “Premium Gold” brand bicycles, has a turnover of Rs100 crore. PTI