Mahindra & Mahindra-owned Classic Legends has been producing the 652cc motorcycle Gold Star at its plant in Pithampur, Madhya Pradesh for about two years but solely for exports to developed markets so far. Incorporated in the UK, BSA Motorcycle is currently a wholly owned subsidiary of Classic Legends.
Anupam Thareja, one of the three cofounders of Classic Legends-the others being Mahindra Group chairman Anand Mahindra, and Boman Irani-that owns BSA along with other legendary motorcycle brands like Jawa and Yezdi-said the Gold Star was first launched in the UK and Europe. Since its relaunch in 2021, BSA is currently available in 23 countries including Europe and the UK.
With the Gold Star, Classic Legends will continue to straddle only the premium category in India and will not offer products priced less than ₹2.5 lakh in an already competitive market, said Thareja.
While Classic Legends is readying a slew of electric variants, Thareja feels the market is still not ready for electric two-wheelers “This consumer is very discerning at these price points, and when we launch a high-end brand, it has to be authentic, you can’t just slap a badge on it and sell,” Thareja said.
Thanks to a premiumisation trend and promise of high returns, the middle weight segment comprising motorcycles in the 600cc to 750cc category has emerged as a sweet spot for companies globally. In India, however, this premium segment is dominated by Royal Enfield, while others like Kawasaki, Suzuki, Triumph, and Honda sell imported motorcycles. “The advantage we have is our pricing, as we can offer competitive rates due to our manufacturing of the BSA Gold Star here,” said Thareja.Classic Legends has spent nearly ₹500 crore in development, tooling lines, research and engineering of the BSA motorcycle. The company has so far raised ₹1,000 crore through a mix of internal accruals, existing shareholders and external investors. Classic Legends, meanwhile, is aggressively expanding its sales network. It aims to add 100 sales and service touch points to its existing network of 423 by this festive season, reaching 600 by this year-end.Sales have also been growing, after initial hiccups during the pandemic. Till date in 2024, Classic Legends has sold 18,213 units. In 2023, retail sales stood at 33,131 units, and in 2022, at 40,964 units, according to the government’s Vahan data. It averages monthly wholesales of around 2,600 units.