Studio Outlets – Maxabout News https://news.maxabout.com Latest Car & Bike News in India Thu, 14 May 2020 14:47:49 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.9 https://news.maxabout.com/wp-content/uploads/2017/09/cropped-Maxabout-News-Favi-Icon-2017-32x32.png Studio Outlets – Maxabout News https://news.maxabout.com 32 32 Royal Enfield to Open 300 New Mini Showrooms in India https://news.maxabout.com/bikes/royal-enfield/royal-enfield-300-new-mini-showrooms/ https://news.maxabout.com/bikes/royal-enfield/royal-enfield-300-new-mini-showrooms/#respond Sun, 15 Dec 2019 04:43:16 +0000 https://news.maxabout.com/?p=535596 Royal Enfield, one of the most loved two-wheeler brands in India, has managed to take its success to the next level by experimenting with the market by opening mini showrooms. These mini showrooms specifically target the hinterland market with the perspective to turn the tables of dwindling sales. Royal Enfield has till now opened around […]

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Royal Enfield, one of the most loved two-wheeler brands in India, has managed to take its success to the next level by experimenting with the market by opening mini showrooms. These mini showrooms specifically target the hinterland market with the perspective to turn the tables of dwindling sales.

Royal Enfield has till now opened around 500 studio stores across the country whereas another 300 mini showrooms will become active by the end of this year. The brand understands the lower cost involved in setting up and operating a mini-store, which is the main reason behind Eicher Motor-controlled company taking this step.

Apart from these mini showrooms, Royal Enfield already has 932 full-fledged stores that have been opened by the brand which are concentrated in the cities.

The CEO of Royal Enfield, Vinod Dasari said in an official statement, “We have 932 large-format stores including the four that were opened in the last quarter. But we said that we need to get into a lot more into the rural areas and thus we came up with this unique concept called the Studio Store. It was so successful in a few areas that by August we added 250 of them and by October, we launched another 250. We have now 500 of them, fantastic response for these”.

The size of the mini showrooms varies between 500 to 600 sq. ft. which can be set up within INR 5-6 lakhs in comparison to a regular 2000-3000 sq ft showroom that costs around INR 50 lakhs to 3 crores depending on the location.

The CFO of Eicher Motors, Lalit Malik said, “They were set up with the idea that, depending on location to location, they would do anywhere between 8 to 10 motorcycles a month. And it is not about sales only, it is about service too. So it is a full, smaller size, but a full Royal Enfield store. It is a proper dealership in that sense. So, all put together, from a motorcycle sales perspective, they were to do 8 to 10. The start has been extremely promising.”

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Royal Enfield to Open 350 Studio Outlets to Boost Sales in India https://news.maxabout.com/bikes/royal-enfield/royal-enfield-350-studio-outlets/ https://news.maxabout.com/bikes/royal-enfield/royal-enfield-350-studio-outlets/#respond Wed, 12 Jun 2019 05:22:08 +0000 https://news.maxabout.com/?p=508737 Royal Enfield is struggling to keep up with their own legacy, registering a downfall in sales when compared to the iconic sales number of 2018. The brand is planning to open 350 studio outlets with a primary focus on the rural market. The 12-20 units per month of sales target, along with just 500 sq.ft […]

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Royal Enfield is struggling to keep up with their own legacy, registering a downfall in sales when compared to the iconic sales number of 2018. The brand is planning to open 350 studio outlets with a primary focus on the rural market. The 12-20 units per month of sales target, along with just 500 sq.ft of the total area will help new partners with a decent amount of capital join the RE family. The 225 sq.ft of the area will be dedicated to the display space while remaining will go into the service and spares section. The brand currently has 825 dealers in India and 42 international stores.

The number of dealerships is expected to touch the 1100 mark by the end of this year. The brand has never tried entering the rural market with a dedicated studio outlet plan and unlike other brands, they have a dedicated fan following across the rural areas of the country. The one-sixth size will bring down the operational cost, keeping the initial real estate investment low and still, allow a decent number of product displays. As this decade will soon come to an end, the brand is strengthening itself for the next 10-year term that will be full of surprises.

The brand will first shift from BS4 to BS6 during the next few months and above all, introduce better versions of their own bikes. They could phase out the 499cc engine in favour of the 648cc motor as the primary sales-driving part will still be the 346cc engine. Breaking the 350cc barrier will bring more taxes to them and thus, future depends upon two engine segments for sure. The Himalayan could shift to the bigger 648cc platform while Bullet, Classic, and Thunderbird names would rule the 350cc segment. The studio outlets may focus on these three motorcycles initially.

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