Chennai-based motorcycle maker, Royal Enfield has expanded its presence in the Asia-Pacific region entering the South Korean market. The company has partnered with Vintage Motors (Kiheung International) as its official distributor-partner in the country and will commence operations with the sale of three motorcycles from its complete line-up. Royal Enfield opened its first exclusive store earlier this week in Seoul, the country's capital, located at Hannam-daero 42-gil, and will include after sales, spares and service. The expansion in South Korea is in-line with the manufacturer's strategy as it aims to lead the global 250-750 cc middleweight motorcycle segment.
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Commenting on the launch, Vimal Sumbly, APAC Business Head, 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."
Commenting on his plans for the market, Pablo Lee Jr., CEO of Kiheung Motors, said, "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".
The new Royal Enfield exclusive store will not only retail motorcycles but also cater to after sales and sevice
Royal Enfield will be retailing the Bullet 500, Classic 500 and the Royal Enfield Himalayan in South Korea initially. The Royal Enfield Bullet 500 is one of the oldest offerings from the company launched in 1932 and is priced at 55,00,000 won (around Rs. Rs. 3.3 lakh), while the Classic 500 is priced at 59,50,000 won (around Rs. 3.63 lakh), while the Classic 500 Chrome is priced at 62,00,000 won (around Rs. 3.78 lakh). The Himalayan retails at 49,50,000 won (around Rs. 3.02 lakh) in South Korea. The bikes are shipped to the Asian country from India as Completely Built Units (CBU). Royal Enfield's first exclusive showroom in the Seoul will not only retail its motorcycle range, but also the gear range, apparel and accessories.
The recent years have seen Royal Enfield expand its presence in several key global cities with its exclusive stores. The company currently has 38 exclusive stores in cities like London, Paris, Madrid, Sao Paulo, Milwaukee, Bogota, Buenos Aries, Dubai, Jakarta, Bangkok, HCMC and now Seoul. The bike maker commands presence in over 50 countries. In India, Royal Enfield operates through a network of over 850 dealerships.
The bike maker also opened its first assembly facility outside India in Thailand, further catering to the demand in the APAC region. In 2018, the company sold over 826,000 motorcycles in India and also introduced the highly anticipated Continental GT 650 and the Interceptor 650 motorcycles across the globe.
