Naza signs Distributorship Agreement with Piaggio Group
The Naza Group of Companies today added yet another clutch of brands to its already sizable stable, having just put pen to paper on a Distributorship Agreement with the Piaggio Group.
A small signing ceremony was held at KL Hilton with Naza Group of Companies Joint Group Executive Chairman Dato’ Hj SM Faisal SM Nasimuddin and Piaggio’s Managing Director for the Asia Pacific Region Mark Franklin representing their respective companies.
This agreement brings four brands of the Piaggio Group – Piaggio, Aprilia, Gilera and Vespa – into Naza’s custody alongside Harley Davidson and Ducati. Additionally, Naza has also secured the option of distributing Moto Guzi, Scarabero and Derbi brands, all marques of the Piaggio Group as well.
Under the terms of the agreement, Naza will be investing some RM6 million into the distributorship to set up showroom and aftersales facilities. The products will then be marketed under the Naza World of Bikes umbrella.
Speaking at the signing ceremony, Dato’ SM Faisal said, “We will offer out full commitment to these four brands to ensure its success in Malaysia under the Naza Group. Thanks to our vast experience in distributing lifestyle motorcycles and Italian brands, we believe this is a significant step forward and a mutually beneficial move for both Naza and Piaggio.”
“There is huge potential in the lifestyle and high engine capacity motorcycle market segment. The significant growth of the segment gives better opportunity for Naza to make strong in-roads into the market with the wide choice of models from Piaggio,” he added.
