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Murugappa arm, Absolute Speciality to pump in Rs 50 cr by FY18 in bicycle-inspired cafe

The company's first store was launched in Chennai in March 2015 and it proposes to open stores in cities like Gurugram, Pune, Coimbatore and Delhi among others. TI Cycles is a manufacturer of BSA, Hercules and Montra brand of cycles.

, ET Bureau|
Dec 23, 2016, 06.22 PM IST
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The bicycle-inspired cafe also sells and rents out bicycles.
HYDERABAD: Ciclo Cafe, a 50:50 joint venture between Murugappa Group's Tube Investments of India (TI Cycles) and Absolute Specialities, will invest Rs 50 crore by FY18 to open around 20-25 cafes across metros and tier-II cities, said a top company executive on Friday.

Talking to media persons on the sidelines of launch of their second cafe in Hyderabad, Arun Algappan, director, TI Absolute Concepts and president, TI Cycles, said, "We plan to invest Rs 40-50 crore in opening close to 20-25 cafes across the major cities including tier-II cities. While category A store would entail an investment of Rs 3-4 crore, it would be relatively less in a store in a tier-II city depending on the location."

The company's first store was launched in Chennai in March 2015 and it proposes to open stores in cities like Gurugram, Pune, Coimbatore and Delhi among others. TI Cycles is a manufacturer of BSA, Hercules and Montra brand of cycles.

The bicycle-inspired cafe also sells and rents out bicycles. "We are looking at tapping the opportunities in the IT belts where there is good demand for high-end vehicles," said Ashish R. Thadani, CEO, TI Absolute Concepts.

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