2024-01-21 07:07:24
Classic Legends, the premium two-wheeler brand under Mahindra & Mahindra, is all set to expand its product portfolio in the Indian market. The company has revealed plans to unveil three new models in April, May and the festive season of 2024.
Classic Legends is also looking to expand its dealership network, aiming to double the number of showrooms to 750 from the existing 423 outlets in the next 24 to 30 months. Classic Legends is on a global expansion drive with plans to explore export opportunities in Europe and enter markets in ASEAN countries including Thailand, Malaysia and Vietnam.
Giving a boost to its efforts, Mahindra & Mahindra also announced a significant investment of Rs 875 crore in Classic Legends in December 2023. These funds are earmarked for a variety of applications, including new product development, marketing initiatives, tooling for innovative offerings, and expansion of distribution networks in overseas markets.
The investment is set to enable Classic Legends to enter the Indian middleweight lifestyle motorcycle segment, which is currently dominated by Royal Enfield. The company hopes that this strategic investment will lead to a financial turnaround, aimed at recovering losses incurred in the last three years and achieving profitability in the current financial year.
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