INSUBCONTINENT EXCLUSIVE:
(Left to right) Boman Irani, co-founder of Classic Legends, Anand Mahindra, chairman of Mahindra group, Anupam Thareja, co-founder of
Classic Legends and Anand Singh Joshi, CEO of Classic Legends at the launch event of BSA Gold Star 650 in Mumbai (Photo: Kamlesh Pednekar)5
min read Last Updated : Aug 15 2024 | 11:06 PM IST
Anand Mahindra-backed Classic Legends that owns iconic British motorcycle brand BSA,
brought in the BSA Gold Star 650cc to India at a competitive pricing of Rs 2.99 lakh with an eye to disrupting the 45,000-unit 500-800cc
bikes market in the country.
Its peer Triumph Trident 660cc is priced at Rs 8.25 lakh
The BSA Gold Star 650cc, in fact, is priced at around Rs 7 lakh in the UK, where Classic Legends has been exporting the model since last
The Royal Enfield Interceptor 750cc too is priced aggressively at Rs 3.1 lakh and the Chennai-headquartered marquee two-wheeler maker enjoys
a whopping 96 per cent share of the 500-800cc motorcycles market in India going by April-July 2024 sales.
In the 500-800cc category,
16,157 units of motorbikes were sold between April and July 2024 over 9,736 units in the same period last year
Of this, Royal Enfield alone sold 15,599 units
In July, 3,789 units were sold in this category, growing by 31 per cent over 2,898 units in last July.
Speaking at the launch, an upbeat
Anand Mahindra, chairman, Mahindra Group, and co-founder of Classic Legends holding a 60 per cent stake, said: "That indomitable spirit of
the BSA is hardwired into the new Gold Star 650
A brand is nothing but a connection of stories, of narratives, a montage of memories, symbolism that's what makes up a brand."
Mahindra
venture with Tube Investments of India, part of Murugappa Group, in August for using the BSA marks for motorcycles, their parts and
accessories, paving the way for launching the BSA motorcycle in India
Murugappa Group owns the trademark for BSA for cycles.
With this launch, Classic Legends aims to double or even triple its presence in
the 650cc and above segment, with Gold Star playing a key role.
Classic Legends, which also owns and markets the Jawa and Yezdi brands,
was producing 60,000 units per annum at Pithampur, Madhya Pradesh
With the launch of the BSA bike, in FY25 it aims to produce 100,000 units at the site, which has an annual capacity of 500,000 units
It has already spent around Rs 350 crore out of the Rs 1,000 crore investment it announced in 2023 to be made over three years.
Speaking
on causing disruption in the market, Anupam Thareja, co-founder of Classic Legends, said: "Disruption isn't just about price, it's about
Solar cells, for example, revolutionised an industry not through technological leaps, but by slashing costs
We've applied this principle to create a motorcycle that delivers exceptional quality and riding experience at an unprecedented price point
This is the essence of our disruption."
Thareja added that they are now likely to spend more on marketing, and also expand their
From a current 450 dealerships (of which 52 will offer the BSA Gold Star), the company plans to expand the network to 600 dealerships by the
Deliveries of the bike will start in 10 days.
Since its inception four years ago, the company has faced several challenges, including the
impact of Covid-19, which caused its factory to shut down more than 60 times due to supply disruptions
Thareja claimed that despite the odds, they have broken even, and are profitable.
Claiming that almost 80 per cent of their riders are
below 30 years of age, Thareja added that their target audience is not defined by traditional demographics but by a shared passion for
motorcycling.
Classic Legends is not only focused on the Indian market but also on establishing a global presence for BSA motorcycles
The company has already set up a production facility in the UK to respect the brand's British heritage while continuing to manufacture in
developing an EV bike in the UK with the help of the UK government
You will be shocked at the stellar EV which we are going to announce
However, for now, I think the ICEs (internal combustion engines) are also very efficient if ridden properly
and is now trying to tap the American markets too.First Published: Aug 15 2024 | 8:09 PMIST
