Bike-Maker Giant Says Fitness Lifestyle Boosting China Sales
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Giant Manufacturing Co., the world’s largest maker of bicycles by sales, is betting on rising incomes and greater awareness about fitness to help it sell pricier models even as automobiles gain popularity as the primary mode of transportation in China.
Revenue from China, its single-largest market, will increase 15 percent to about 6 billion yuan ($942 million) next year, driven by sales of mountain bikes, according to Young Liu, China president for Taichung, Taiwan-based Giant. Retail prices start from 1,058 yuan for an all-terrain bike, compared with 560 yuan for comparable models from the Shanghai-based Forever brand, used by the country’s postal service.