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Iconic motorcycle manufacturer Royal Enfield announced its foray into Vietnam to expand its presence in the mid-sized motorcycle segment (250-750cc) in the world.
Royal Enfield inaugurated its first flagship store in Ho Chi Minh City (HCMC), Vietnam to tap into the world's fourth largest two-wheeler market. The company has partnered with Al Naboodah International (VN) as its official dealer in the country.
The first flagship store has been launched in the heart of HCMC at Saigon Paragon, 3 Nguyen Luong Bang, District 7, Vietnam.
The company has a presence in Indonesia through two exclusive stores in Jakarta and at Bali. It also has the first exclusive gear store outside India at Jakarta. In Thailand, Royal Enfield currently has an exclusive store in Bangkok.
Royal Enfield will sell its widely popular models featuring single-cylinder engines, which includes Bullet 500, Classic 500 and the Continental GT.
Speaking on this strategic foray, Mr Rudratej (Rudy) Singh - President Royal Enfield said, "Royal Enfield endeavours to reinvent and lead the global mid-size motorcycle segment, and South-East Asia is a critical market for us in this global strategy. This segment is expanding in India and is a huge opportunity for Royal Enfield across the world."
"Vietnam has a large population that is young and commutes on two-wheelers and is now aspiring to adopt the right medium of self-expression and exploration. With a strong heritage behind us, Royal Enfield offers motorcycles that are evocative and fun to ride and at the same time, practical, functional and accessible for everyday use."
He added, "With its vast landscapes and countryside, Vietnam is an ideal destination for pure motorcycling experiences. We hope to fuel the culture of exploration and leisure motorcycling with some of our best motorcycles in Vietnam."
Royal Enfield is looking to increase its leadership in the mid-sized motorcycle segment with the foray into ASEAN market where two-wheelers are in high demand. With a store in Vietnam, the company will look to consolidate market share in the mid-sized motorcycle segment.