Spark Minda Forays into Consumer Space with the launch of Protective Head Gear (Helmets)
Delhi/ NCR, July 15, 2022: Minda Corporation Limited (referred to as “Minda Corp” or the “Company”; NSE: MINDACORP, BSE: 538962), is the flagship company of the Spark Minda Group, launched17 helmet models with 145 variants in the Indian retail market.The launch marks Spark Minda’s foray into the B2C space at a time when India is emerging as the largest and fastest growing helmet market globally.
During the next few years, the companyplans to add 200+ distributors and open exclusive Spark Minda branded outlets across the country, making the distribution network more robust. The Protective Head Gear will be available across three customer segments- Economy (Knight series), Mid (Garrison series) andthe Premium(Armored series) category.
Spark Minda also announced the launch of 1500 fiber parts (Plastic-molded, painted components for two-wheelers) to meet the growing demand of 2W riders across the country. This numberis targeted to increase to 2400 in the next two years, representing the largest range of fiber parts available in the country.
Mr. Ashok Minda, Chairman and Group Chief Executive Officer, MindaCorporation Ltd. said:
“The last six decades have seen Spark Minda ushering industryleading solutions in the automotiveindustry. The amalgamation of the group’s experience along with its impetus on extensive research has lodged it well ahead of its league when it comes to developing products for the future.
India is the fastest growing major economy in the world. Our foray into the consumer businesscategory will not only make us a part of this iconic growth story of the country, but also reinforce our commitment to provide the highest standards of safety for 2W riders across the country.”
Mr. Neeraj Sharan, CEO, Aftermarket Division, Minda Corporation Ltd. said:
“India is world’s biggest helmet market with 40-45% of the sector still being served by unorganized players. The launch of this extensive product range will bring a significant disruption andhelp us become one of the leading players in the helmet segment. We want toensure that certified helmets are available to every 2W rider in India. Going forward, the company plans to expand the merchandise portfolio by launching a range of new products and have the largest range of Fiber parts for our 2W riders in the country.”
Currently, the aftermarket division at Spark Minda has a network of 500+ distributors and 12,000+ retailers across India with12 product lines including Locks, Wiring Harness, Instruments, Auto Electrical components (Starter Motor),Flasher, Relays, CDI, Wiper, Cable, Filter, Lubricant, Brake shoe, Clutch plate, and Bearing.