Triumph motorcycles and Bajaj recently announced they’ve entered into a new global partnership. Triumph CEO Nick Bloor says the objective of this non-equity partnership is to deliver a range of mid–capacity motorcycles benefiting from the collective strengths of both companies.
“We hope to bring to bear upon global markets the individual strengths of the partners including brand position and perception, design and development technology, quality and cost competitiveness and worldwide distribution,” Bloor said in a press release.
The new partnership will enable Triumph to expand its global reach by entering new higher volume market segments, according to the release, especially in emerging markets.
Bajaj will gain access to the iconic Triumph brand, enabling it to offer a wider range of motorcycles within its domestic market and other international markets.
Triumph and Bajaj are excited by the opportunities and the prospect of entering new market segments, thereby reaching a whole new group of motorcyclists across the world.
“This new partnership builds upon our global operations, adding further capabilities to enable us to enter significant new markets and segments not possible today, in a premium manner, thereby supporting our strategic goal of becoming the premium lifestyle motorcycle brand,” Bloor concludes.
Bajaj Auto is the world’s third largest motorcycle manufacturer, India’s second largest manufacturer of motorcycles and world’s largest manufacturer of three-wheelers with market capitalization exceeding of GBP 10 billion as of March 2017. The company’s motorcycles and three wheelers are sold all over India with a wide network of dealerships. It sold 4.35 million two and three wheelers in FY 2011-2012, the highest ever in its history.