American cycling brand Trek Bicycle plans to expand its reach to around 125 cities in India by adding 20-25 retail stores each year for the next three years, a top company official said. The company, which sells premium and super premium bicycles, currently has presence in around 41 cities in the country with about 45 retail stores based on franchise format.

Besides fitness, a lot of youngsters are also taking up cycling as a sport which is also a positive sign for the industry, Banka said. The Trek range in India starts at Rs 29,000 and depending on consumer specifications and customization, the performance bicycles can cost up to Rs 20 lakh.

The company has so far sold over 30,000 bicycles in the country and has even tied up with financial institutions for finance options to buy its products from its authorized retail stores. Trek started selling premium bicycles in India via distributors in 2007 and last year established a 100 per cent subsidiary in the country.

When asked if the company plans to set up local manufacturing in the country, Banka said that for the time being it will keep on making its products available by importing them from various countries like the US, Germany, China and Taiwan. Trek currently offers more than 30 bicycle models in the country across road, mountain, and hybrid range along with accessories, merchandise and riding gear.

As per industry estimates, the size of cycling market in India is around 16.3 million units per year currently. Trek caters to the super-premium segment which is currently around 30,000 units annually and has grown at a CAGR of 20 per cent over the past five years.