Vietnamese spend millions on luxury bicycles

September 05, 2014 | 08:34

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There has been a trend among the rich in Hanoi and HCM City to buy push-bikes for prices reaching as much as VND560 million (USD26,660).

Tu, the owner of a high-end bike bicycle shop in Hanoi, said that many rich people want something unique to set them apart and show they are "connoisseurs".

Customers tend to either commission ready-made bikes or get them from foreign manufacturers.

High-grade bikes often weigh less than 13kg, the more expensive ones being lighter. Bikes sold for around VND200 million can weigh as little as 7kg, the frame built from carbon fiber. Some can cost USD2,000-4,000.

Shops also profit from accessories, such as gloves, helmets, heart monitors, knee and elbow pads and other protective gear. Even bike clothing is a boon for these businesses.

After the news that the auto producer McLaren plans to launch a new but limited model, named McLaren S-Works Tarmac, for which one would have to pay VND560 million, there were lists of customers willing to make the purchase.

In 2012, a Vietnamese-American living in HCM City bought a bike designed by Albert II, the prince of Monaco, at USD35,000.

It is expected that well-known bike brands, such as Audi, Porsche, Fuji, Oval Concept, Sigma, Ibera, Prowell, Chepark, Exustar and others will gain prominence in Vietnam.

Dtinews

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