Livemint: May 12, 2016
Mumbai: Premium Italian motorcycle brand MV Agusta on Wednesday said it has entered the Indian market through an exclusive partnership with Pune’s Kinetic Group. At a press meet in Pune, the company unveiled its first range of superbikes—the F4, F3 and Brutale 1090—which will now be available at its first ‘Motoroyale’ dealership in Pune. The company will operate as MV Agusta India Pvt. Ltd.
Bookings commenced on Wednesday for the motorcycles which will cost Rs.16-35 lakh.
Kinetic is the distributor/marketer of the bikes, which will be sold through the Motorayale chain of branded outlets.
“This is the perfect time for us to enter India, as we are witnessing a surge in demand for premium motorcycles. We offer biking aficionados best-in-class superbikes that boast exquisite designs by the renowned Massimo Tamburini as well as superior, cutting-edge technology.
MV Agusta motorcycles guarantee a riding experience that’s second to none,” said Judah Immanuel Sangaran, Far East country manager, MV Agusta Motor S.p.A.
Following Pune, Motoroyale dealerships will soon be inaugurated in Ahmedabad, Bangalore, Chennai, Delhi and Mumbai. Motoroyale showrooms will focus on sales, service, spares and after sales support for MV Agusta customers in India.
MV Agusta India has the exclusive distribution rights for the entire range in India, Bangladesh and Sri Lanka.
In 2014, Kinetic group had exited the two-wheeler segment completely by selling its remaining stake in Mahindra Two Wheelers to private equity firm Samena Capital for about Rs.182.1 crore. The group had sold off its two-wheeler business assets to M&M in a cash and stock deal in 2008.
Group firm Kinetic Motor Co. had in the past partnered with Japan’s Honda and sold the once popular Kinetic Honda gearless scooter. The group then went solo after the joint venture broke up.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.