Royal Enfield has entered Vietnam, the world’s fourth largest two-wheeler market. In line with its strategy to expand globally in the midsized motorcycle segment (250-750cc), the Chennai-based motorcycle manufacturer today inaugurated its first flagship store in Ho Chi Minh City.
In the ASEAN region, Royal Enfield already has a presence in Indonesia through two exclusive stores in Jakarta and Bali and one in Jakarta. In Thailand, Royal Enfield currently has an exclusive store in Bangkok.
Speaking on this strategic foray, Rudratej Singh, president, Royal Enfield said, “Royal Enfield endeavours to reinvent and lead the global midsize motorcycle segment, and South-East Asia is a critical market for us in this global strategy. This segment is expanding in India and is a huge opportunity for Royal Enfield across the world. Vietnam has a large population that is young and commutes on two-wheelers, and is now aspiring to adopt the right medium of self-expression and exploration. With a strong heritage behind us, Royal Enfield offers motorcycles that are evocative and fun to ride, and at the same time, practical, functional and accessible for everyday use. With its vast landscapes and countryside, Vietnam is an ideal destination for pure motorcycling experiences. We hope to fuel the culture of exploration and leisure motorcycling with some of our best motorcycles in Vietnam.”
The company is retailing three popular models featuring single-cylinder engines – the Bullet 500, Classic 500 and the Continental GT 535cc.
In the April-September 2017 period, Royal Enfield has exported 8,561 units, a year-on-year growth of 17.69 percent. In the domestic market, in H1 FY2018, its total sales are 378,304 units, up 23.17 percent YoY.