Mahindra-backed Classic Legends eyes pole position in neo-classic segment with Jawa 42FJ

Mahindra and Mahindra-backed Classic Legends is eyeing pole position in the neo-classic segment or mid-size motorcycle with the launch of Jawa 42 FJ, Anupam Thareja, co-founder, Jawa Yezdi Motorcycles told reporters on Tuesday. The company launched Jawa 42FJ at a competitive pricing of Rs 1.99 lakh, which will compete against Royal Enfield Hunter 350. Royal Enfield currently holds more than 90% market in the neo-classics segment.

Launched in 2018, Classic Legends currently has brands BSA, Jawa and Yezdi motorcycles in its portfolio. This is the 10th motorcycle by Classic Legends. The launch comes days after Classic Legends unveiled BSA Goldstar 650 at Rs 2.99 lakh.

"This is the segment which will grow the fastest, " says Thareja.

In order to expand its product portfolio, the company will add 100 touch points for Jawa motorcycles.

Explaining the strategy of growth, Thareja said that while the country will focus on neo-classics, it will also ramp up exports of BSA and Jawa. BSA currently has 23 countries for exports and Jawa has 19 countries for exports.

"Globally, we are selling BSA in 23 countries. We started off with the UK, then a lot of European countries. We are also now in Philippines. We are opening up in Japan, we are opening up USA shortly. We are already in New Zealand as well. We are about to open up in Australia. BSA Goldstar has won motorcycle of the year in the UK. We sell Jawa through Jawa Czech Republic, and they are distributing it in 19 countries as well. So they are acting like our master distributor. They buy the bikes from us, and then they sell. So they're selling in the Russia, Russian origin countries, all of that area," said Thareja.

Mahindra & Mahindra, which holds 60% stake in Classic Legends, has infused Rs 1,000 crore in the company. Of this, Rs 350 crore has already been utilised and the remaining amount will be utilised for ramping up production, as well as research and development in the next few months. Notably, Mahindra has classified Classic Legends as one of the growth gems for the company.