Yezdi bikes to expand market, create segment within segments: Classic Legends
Classic Legends, the group which revived the iconic motorcycle brand Yezdi after 26 years by launching three new bikes this week, aims to capture the market with array of models and create its own niche in coming days. Owned by the Mahindra Group, Classic Legends has also revived other brands like Jawa and BSA Motorcycles recently.
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Classic Legends spent around ₹500 crore to relaunch the Yezdi in India. On Thursday, the company launched Roadster, Scrambler and Adventure motorcycles at a starting price of ₹1.98 lakh (ex-showroom). The Yezdi motorcycles are powered by the same 334cc liquid-cooled, fuel-injected, DOHC single-cylinder engine that is used for Jawa motorcycles. The Yezdi Roadster, Scrambler and Adventure motorcycles will go up against rivals like the Royal Enfield, KTM and Honda in India.
"Yezdi is a motorcycle from an era when the motorcycle was not just a vehicle but part of the family. We expect it to be an instant hit with the youth of the country," said Anupam Thareja, Founder of Classic Legends.
With the revival of Yezdi brand along with Jawa and BSA, Classic Legends say that its portfolio is now complete. Six years ago, Mahindra had tied up with Classic Legends, to revive the iconic brands with a stake of around 60 per cent. The rest of the stakes are owned by Anupam Thareja, Founder of Classic Legends and Boman Irani, Chairman and MD of Rustomjee Group.
"We launched three products – Jawa, Jawa Forty Two and Perak – under the Jawa brand and have now introduced three models under Yezdi — Roaster, Scrambler and Adventure range. With this, we expect it to be not only a large brand but together, it will complete the portfolio of Classic Legends," Thareja was quoted by news agency PTI as saying.
Classic Legends is using its facility in Pithampur near Indore to manufacture the Yezdi motorcycles. This is the same facility where it produces the Jawa bikes as well. The factory has a capacity to produce five lakh motorcycles every year.
The bookings are open as the new Yezdi bikes are delivered to around 300 showrooms across in India. Yezdi is sharing the same showrooms with Jawa, which have been remodelled as Jawa Yezdi showrooms for this purpose.
"We have changed the price point, expanded the distribution three times, from 100 at the time of Jawa launch to 300 now and introduced new products. We will also launch accessories for bikers, bikes and performance. We will also create communities," Thareja said.
According to Thareja, the Yezdi bikes will help create segment within segments. He said that the mid-market segment lies in 250cc-600cc in a market completely dominated by small engines. He expects Indian customers to graduate to the mid-market segment soon.
“This customer is the one who is not a novice, who knows what is a motorcycle and what is a good quality motorcycle. He will just not compromise. This segment earlier did not have the choice but now for the first time, he will see a choice and understand what a brand stands for," Thareja said.
"To my mind, this is a credible offering and will do two things — it will expand the market and also create a segment within the segment. Moreover, when you own a segment, it is your responsibility to expand it as well," he added.
"I will create a subsegment. There is always a segment in the market but then what we have to see is whether there is a market in the segment? Now, we are creating a market in a segment," Thareja said.
Thareja says his company aims to offer pure experience of owning a motorcycle with its models. He said the models will bring back the classic characters of a motorcycle which offers more freedom and an enjoyable ride. "That is why we are saying that the big market segment will be the most promising segment and the segmentation of the segment will decide winners and the losers," he said.