India motorcycle manufacturer TVS buys Norton assets

Founded in 1898 and once among the world's largest motorcycle manufacturers, Norton declined and fell along with the rest of the British motorcycle industry in the 20th century before being resurrected as a brand more than once. Most recently, it was led by CEO Stuart Garner and the company recently was placed in liquidation. Hundreds of creditors have been identified, from unpaid taxes to outstanding bank loans to potential customers who put down deposits on motorcycles that were never delivered.

In its announcement, TVS did not specify exactly what assets it purchased. Recent reports indicate that Garner sold off some assets before the firm was removed from his control. TVS did mention both the retro Commando models and the 1,200 cc V4 RR superbike, but it's unclear if they will have the rights to those designs.

TVS Joint Managing Director Sudarshan Venu said the company would help "Norton to regain its full glory in the international motorcycle landscape."

"Norton will continue to retain its distinctive identity with dedicated and specific business plans," Venu said. "TVS Motor will work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand and we look forward to growing together globally in the years to come."

Is Norton worth it?

It's hard to do even any amateur accounting of the deal, since I'm not sure precisely what assets are included in the deal. I do have a bias toward feeling that the Norton brand retains very little value at this point. And I say that with some hesitance, knowing it puts me on the other side of the argument with our most experienced writer, Mark Gardiner, who has researched Norton more than I have.

My feeling is that a brand loses its value once there are no longer significant numbers of consumers who have a positive personal connection to it. Anyone much younger than me probably doesn't have any direct connection to Norton. If they do, it's knowledge of the small, well intentioned and honestly run effort by American owner Kenny Dreer, or the very questionable effort run by Garner, who is now under investigation in the UK for his business practices. If you're my age, your direct connection to Norton is remembering when they were oil-leaking, outdated motorcycles that shook a lot and couldn't compete with Japanese competition. To have fond personal memories of Norton as a successful, admired brand, you have to be older than me — and that makes it unlikely you're going to buy a V4 RR superbike. Or a new Commando.

The other side of the argument is that TVS can capitalize on the Norton name in India, where — I'll admit — Royal Enfields are still very popular.

The value of the Norton name may be debatable, but it's clear that this is another example of how manufacturing has shifted from the days when India was under British rule. Now Norton, like Land Rover and Jaguar before it, becomes a once-iconic British brand owned by Indian companies as the former subjects buy out their former rulers. As TVS put it, "This will be one of the most interesting acquisitions of a storied motorcycle maker in recent times and will reflect TVS Motor Company's and India's rapidly rising prominence in the international two-wheeler market."