Sachin Chopra: Pedaling Success with Ninety One Cycles and Reshaping India’s Cycling Culture

In 2016, Sachin Chopra woke up at 3 AM with a burning question on his mind: “How can my mother be wrong?” It marked a pivotal moment in the life of this former managing director at Everstone Capital, as he grappled with the idea of embarking on a unique entrepreneurial journey. Despite the naysayers and sceptics, Chopra was determined to turn the wheels of change in the Indian cycling industry by co-founding Ninety One Cycles. This blog delves into the remarkable story of Sachin Chopra and the extraordinary success of Ninety One Cycles. Sachin Chopra’s journey from a prominent private equity professional to a bicycle entrepreneur was nothing short of remarkable. His mother’s advice, “Cycle mat bana beta [Don’t make cycles],” served as a challenge rather than a deterrent. When friends and colleagues expressed disbelief and even amusement at his decision to manufacture bicycles, Chopra remained unwavering in his commitment to the cause.

Rejecting the family’s textile processing business in Ahmedabad, Chopra was determined to start something uniquely Indian and aimed at younger generations. With extensive experience in the US and a solid financial background, he decided to set up Ninety One Cycles in 2015, investing ₹5 crore of his own capital. Chopra’s vision for Ninety One Cycles was as audacious as it was inspiring. He aspired to offer a $1,000 riding experience at a $150 price point. This vision was not merely an aim to produce cycles; it was a mission to transform the cycling culture in India. He wanted to prove that premium and innovative cycles could be made in India and be aspirational for consumers.

The Founding Principles:

Sachin Chopra’s journey was marked by several guiding principles and an unwavering commitment to innovation:

• Scalability: India’s position as the second-largest cycle manufacturer in the world, producing over 1.5 crore units annually, presented a massive opportunity. The growing trend of premium and kids’ cycles with increasing average selling prices made scalability evident.
• Innovation: Chopra recognized the lack of innovation in the Indian bicycle industry. He saw an opportunity to disrupt by introducing differentiated and engineering-driven products.
• Quality Control: Refusing to rely on contract manufacturing, the Chopra brothers aimed to maintain complete control over production. They ensured every component of their cycles was meticulously designed and manufactured.

From humble beginnings, Ninety One Cycles experienced explosive growth. The company’s operating revenue skyrocketed from ₹10 crore in FY17 to ₹125 crore in FY21. Despite the challenges posed by the pandemic, the brand continued to thrive, with the FY22 revenue estimated to reach ₹170 crore. Sachin Chopra proudly mentioned that Ninety One Cycles achieved over 1.7 lakh units in sales in FY22 and currently sustains a revenue run rate of ₹300 crore. The ambitious target for FY23 is to sell five lakh units. What set Ninety One Cycles apart were its innovative features. The inclusion of sealed bearings, alloy cranks, lightweight materials, higher load-bearing capacity, and custom ceramic brake pads showcased the company’s commitment to engineering excellence. Ninety One also unveiled India’s first Magnesium bike, highlighting their dedication to cutting-edge technology and design.

Sachin Chopra’s journey with Ninety One Cycles embodies a remarkable blend of vision, innovation, and unwavering determination. His mission to make premium cycles aspirational for Indian consumers has yielded impressive results. As the cycling culture in India continues to evolve, Ninety One Cycles stands ready to make its mark on the global stage.