Shares of Eicher Motors advanced 1.76 per cent to hit
intraday high of Rs 18,131.25 after the automaker said that it opened
two exclusive stores of its flagship motorcycle brand Royal Enfield in
Madrid and Paris, as part of its growth strategy in Europe.
The new stores are part of the company's growth strategy in Europe, it added.
"France and Spain represent two of the most important markets for us in Europe. We have witnessed immense growth in both France and Spain, which is fuelled by our close proximity to the customers in these regions through a wide distribution network and increasing dealership in the past few months," Royal Enfield international business head Arun Gopal said.
Royal Enfield has 80 dealerships across France and 25 in Spain and is expanding its presence in these markets. In France, Royal Enfield witnessed 60 per cent growth in the first seven months of 2015, compared to the same period last year.
As of 11:08 a.m., shares of Eicher Motors traded 1.68 per cent higher at Rs 18,115, outperforming the Nifty which was down 0.07 per cent.
The new stores are part of the company's growth strategy in Europe, it added.
"France and Spain represent two of the most important markets for us in Europe. We have witnessed immense growth in both France and Spain, which is fuelled by our close proximity to the customers in these regions through a wide distribution network and increasing dealership in the past few months," Royal Enfield international business head Arun Gopal said.
Royal Enfield has 80 dealerships across France and 25 in Spain and is expanding its presence in these markets. In France, Royal Enfield witnessed 60 per cent growth in the first seven months of 2015, compared to the same period last year.
As of 11:08 a.m., shares of Eicher Motors traded 1.68 per cent higher at Rs 18,115, outperforming the Nifty which was down 0.07 per cent.
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