Royal Enfield, the legendary motorbike brand, has launched many new models in the country in recent years, rekindling teenage interest. When you hear a distinct pounding sound, you know it’s a Bullet going past. The adored Royal Enfield Bullet, which was popular among India’s style-conscious young and high class, has now become a global hit.
Surprisingly, Royal Enfield was on the verge of bankruptcy in 1994. It has now become the most profitable firm in the country. Did you know that a 26-year-old named Siddhartha Lal transformed the ailing Bullet into the country’s most successful company?
In the fiscal year 2014, the parent company Eicher Motors, which is responsible for Royal Enfield, made INR 8,738 crore in revenue and INR 702 crore in profit. Surprisingly, Royal Enfield supplied 80% of the profit.
Siddhartha Lal was appointed CEO in 2000 and was tasked with resurrecting the floundering Royal Enfield. He understood the importance of concentrating completely on the revival of Royal Enfield.
Siddhartha Lal developed new models such as the Thunderbird and Electra, which captured the hearts of the nation’s youth. He is an ardent biker who is known for his daring rides.
“Made Like a Gun,” Royal Enfield’s trademark, debuted in 1960 with the company’s first motorcycle in England. The company’s goods and design were continually innovative, resulting in the iconic Bullet we see today.
Royal Enfield motorcycles were widely employed by the British Army during WWII. Siddhartha Lal was instrumental in influencing people’s ideas of the Bullet.
Siddhartha Lal turned Royal Enfield from a tourist brand to one connected with everyday use. He shifted people’s perspectives, pushing them to embrace change.
Royal Enfield is more than a motorcycle to Siddhartha Lal; it’s a passion. His message resonated with the kids, forming a strong network of Bullet fans.
Sales increased from 25,000 bikes per year in 2005 to 50,000 in 2010. According to Forbes magazine, Siddhartha Lal’s father, Vikram Lal, and their family have a net worth of $6.2 billion.
