Uncover the audacious journey of Mahindra backed Classic Legends as they stake a whopping ₹ 1,000 crore in their quest to dominate the Global Bike Market. This is a story of vision, grit, and an unyielding drive for excellence that you won’t want to miss!
Mahindra-backed motorcycle company, Classic Legends, has announced a significant investment of ₹1,000 crore over the next three years.
The company, which has successfully resurrected iconic brands including Jawa, Yezdi, and BSA, plans to use this investment to ramp up marketing, distribution, and new product development.
Classic Legends aims to become a global player in the bike market.
About 50% of the new investments will be used for rolling out BSA bikes in the international markets. The other half will be used to strengthen distribution and marketing in India.
The company is also ready with its electric motorcycle and is set to launch in the UK soon.
This is the first major investment being made by the company since it announced plans to relaunch the motorcycle brand Jawa in 2018.
The fresh funding will be deployed from a combination of internal accruals, existing shareholders, and external investors.
Mahindra & Mahindra owns a 60% stake in Classic Legends, while the balance is held by Anupam Thareja’s Phi Capital and real estate developer Boman Irani.
The three had come together to revive the iconic brands in 2018; however, the business was impacted by the COVID-19 pandemic-linked disruptions in the supply chain.
Anand Mahindra, Chairman of Mahindra Group, expressed his belief in the potential of the brands under Classic Legends.
He stated that despite initial problems, he believes that these brands have great products that have huge potential in the market.
Anupam Thareja, Co-Founder of Classic Legends, shared that their aim is to build an Indian global company.
“Every month, we are selling 4,000-5,000 units currently. Next year, we should be doubling this to 10,000. We are targeting 20% to come from exports.”
In February, the company launched its high-end 650 CC bike under the BSA brand in the UK. This was followed by Germany, France, Italy, and Austria.
“End of this week, we are launching Turkey, Norway, and the Czech Republic.
Then we launch in the US and then to Japan,” Thareja said.
The products under BSA will be primarily for the Western market including North America, while Jawa will be rolled out in countries such as China, Poland, and Argentina.
All these bikes are being produced at Mahindra’s manufacturing facility in Pithampur near Indore in Madhya Pradesh.
The company is also ready with its first electric motorbike for which it has earmarked about ₹200 crore investment.
With a clear vision and a significant investment, Classic Legends is poised to make a mark in the global bike market.
The company’s commitment to resurrecting iconic brands and introducing innovative products, including an electric motorcycle, demonstrates its ambition.
As it expands its footprint across various international markets, Classic Legends is not just betting on its success but also contributing to India’s presence in the global automotive industry.
What are your thoughts about this? Don’t forget to write them down in the comments below!