Tube Investments of India said Thursday that TI Cycles of India, one of the leading bicycle manufacturers in India, has signed up with Ridley Bikes Belgium, one of the leading Bicycle brands in Europe, to acquire the brand licensing rights for the brand Ridley for India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for a period of 33 years.

Ridley Bikes Belgium was established in 1990 and today is considered one of the leading innovators in Bicycle Technology in Carbon and Alloy for key segments of Road, Cyclocross and MTB. 

Commenting acquisition of brand licensing rights, the company said, "The licensing rights will strengthen the market share for TI Cycles of India in the premium bicycles division and will also establish Ridley as one of the leading global brands in India. With the introduction of Ridley Bicycles in India, both the companies plan to undertake a series of programs in India to promote the culture of Professional cycling and also provide a platform for Indian riders to get global exposure. These super premium bicycles will be available at Premium Track & Trail and Ciclo Café retail outlets and key multi brand outlets across cities. The company plans to further strengthen its leadership position in the super premium segment by adding Ridley to the existing bouquet of the world's best bicycle brands like Bianchi, Cannondale, GT, Schwinn, Mongoose & Montra, all under one roof."

Commenting on the launch, Arun Alagappan, President, TI Cycles of India,said, ''At TI Cycles, we are committed to bring to Indian consumers the best in innovation and technologies. We are confident Ridley bicycles will infuse fresh dynamism to our commitment to India and the Indian consumers.''

Jochim Aerts, chief executive officer, Ridley Bikes, said, ''With the introduction of Ridley Bicycles to India, TI Cycles has taken a distinctive and progressive approach to the Indian market. Moving forward, our focus will be to grow this segment in line with the needs of the Indian consumers. We, with our partners are sure Ridley Bikes will establish itself as one of the leading brands in India.''

TI Cycles plans to expand its reach of Premium Track and Trail and Ciclo Café stores up to 50 outlets by 2017 from its present 12 outlets. It has a world class domestic and export manufacturing facility in Chennai. 

Shares of Tube Investments of India gained Rs 17.7, or 4.65%, to settle at Rs 398.50. The total volume of shares traded was 7,736 at the BSE (Thursday).