Royal Enfield Expands Footprint in APAC, Enters South Korea
by EVENTFAQS Bureau Marketing | April 25, 2019 | Press Release
Royal Enfield, the global leader in mid-sized motorcycles, announced its entry into South Korea on April 19th, 2019 at Seoul, with Vintage Motors (Kiheung International) as its official distributor-partner in the country. The iconic British motorcycle manufacturer arrives in Korea with its first flagship store in Seoul at Hannam-daero 42-gil, commencing its full operation, including after sales, spares, and service. This strategic announcement is in line with Royal Enfield’s focused international thrust of leading and expanding the global mid-sized motorcycle segment (250-750cc). The brand launch press conference was addressed by Mr. Vimal Sumbly, APAC Business Head and Pablo Lee Junior- Chief Executive Officer, Kiheung Motors.
Commenting on the launch of Royal Enfield at the exclusive store in Korea, Mr. Vimal Sumbly, APAC Business Head, Kiheung Motors said, “Our focus is to sustain and expand our reach in International markets especially in Asia Pacific region. Royal Enfield has seen consistent growth in the APAC region with a 20% year-on-year growth. Korea is an important chapter in the growth story and we are thrilled to commence business here. We fully committed to focus all our energies on becoming part of the fabric of this country’s rich motorcycling culture.”
Royal Enfield, born in 1901 in the city of Redditch, UK has challenged the conventions of the motorcycle industry for more than a century. With a strong British legacy of 118 years that includes two world wars, manufacturing the oldest motorcycle in continuous production - the Bullet, and being on the forefront during the best years of British automobile and motorcycling history, made its journey from U.K. to India in 1950's where it is currently manufactured. Today, Royal Enfield is one of the fastest growing motorcycle brands in the world and one of the leading players in the mid-size motorcycle segment (250cc-750cc) globally. It is now a division of publicly traded Eicher Motors Limited (EICHERMOT), in India.
Commenting on his plans for the market, Pablo Lee Jr., CEO of Kiheung Motors, said, “We are honoured to partner with Royal Enfield and bring their passion for motorcycling to customers across Korea. Royal Enfield motorcycles will offer Korean two-wheeler riders an opportunity to upgrade to a robust long-distance, leisure riding culture with its modern-classics machines, that are brilliant for long rides on the highway at the same time perfect to commute in heavy traffic in the city”.
Royal Enfield enters South Korea, with line-up of three of its widely popular models featuring single-cylinder engines currently up to 500 cc - The iconic Bullet (500cc), available at a retail price of 5,500,000 won. The Classic (500c), the most popular Royal Enfield motorcycle model globally available in a large array of finishes at a retail price of Classic 500 at 5,950,000 won and Classic 500 Chrome at 6,200,000 won. Royal Enfield’s most versatile motorcycle - the Himalayan (410cc), is available at a retail price of 4,950,000 won.
Royal Enfield has grown consistently and profitably in the last decade from selling 50,000 motorcycles annually in 2010 to selling 826,000+ units in 2018, with a 16 folds growth. Royal Enfield sells through a network of 850+ stores in India and 540+ dealerships internationally in 50+ countries, and 38 exclusive stores in nodal cities like London, Paris, Madrid, Sao Paulo, Milwaukee, Bogota, Buenos Aries, Dubai, Jakarta, Bangkok, HCMC and now Seoul, to name a few. Royal Enfield recently also introduced its much-awaited Twin cylinder based - Continental GT 650cc and Interceptor 650cc, which marks the revival of twin-cylinder production after 5 decades and also herald the start of the brand's global expansion.
Royal Enfield, the global leader in mid-sized motorcycles, announced its entry into South Korea, with Vintage Motors (Kiheung International) as its official distributor-partner in the country.