Royal Enfield has announced its entry into Vietnam. The company has opened its first stand-alone flagship store in Ho Chi Minh City.
Vietnam is the world’s fourth largest two-wheeler market. Opening business in the country is a part of the company’s growth strategy and international thrust to expand the mid-sized motorcycle segment (250-750cc). The company currently is focussed on building and expanding its presence in South-Asian countries. Royal Enfield has a presence in Indonesia through two exclusive stores in Jakarta and at Bali; and also has the first exclusive gear store outside India, in Jakarta. In Thailand, the brand currently has an exclusive store in Bangkok.
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. With its vast landscapes and countryside, Vietnam is an ideal destination for pure motorcycling experiences.
Royal Enfield has appointed Al Naboodah International (VN) as its official dealer in the country. The first flagship store's location is at Saigon Paragon, 3 Nguyen Luong Bang, District 7, Vietnam. The brand has introduced three models in the country- Bullet 500, Classic 500 and the Continental GT.
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It was reported in June that the company is planning to foray into Vietnam. In April, the company inaugurated exclusive dealership in Sao Paulo, Brazil. With the upcoming 750cc motorcycle, the brand is looking to expand its foothold in more foreign markets, with more bikes that are highway-worthy.