Meghna Group rolls out bicycles for Bangladesh Market
Meghna Group rolls out cycles for local riders
Leading bicycle exporter Meghna Group has launched its cycles in the local market to meet the long-cherished demand of Bangladeshi riders.
Cyclelife Exclusive, a sister concern of Meghna Group, opened its first showroom yesterday on Tejgaon-Gulshan Link Road, where Raleigh, Coyote, Diamondblack and Viking cycles are up for sale.
The prices range between Tk 14,000 and Tk 50,000 depending on models and quality.
The company established good reputation in exporting bicycles to Europe, said Mizanur Rahman, chairman of Meghna Group.
“Now we've come to the local market with many of our products at affordable prices,” Rahman said.
Cyclelife Exclusive has introduced several new models to suit the Bangladeshi riders in line with the road condition.
All models have evolved from testing and feedback received not only from test riders, but from customers, Rahman said.
Bangladesh exports around $100 million worth of bicycles a year. At the same time, it imports around 10 lakh of bicycles a year, mostly from China and Singapore. Most of these bicycles are imported through underinvoicing to evade taxes.
For instance, the price of a trekking bike is declared at only $15 (Tk 1,200), but it is sold for Tk 50,000 in the local market, a document from the National Board of Revenue shows.