Companies can survive for a long long time, but their products will come and go. $AAPL, for example, has rolled out how many iPhones since the original version? Some companies and their products MUST evolve over time, but sometimes, the old adage of “If it aint broke don’t fix it” holds true and provides a truly unique opportunity for long term investors to benefit.

Royal Enfield’s (a subsidiary of Indian company Eicher Motors $EICHERMOT) Bullet motorcycle model is one of these special products. The new 2024 Royal Enfield Bullet is virtually unchanged from the original Bullet that came out 91 years ago. Minor changes have been made to the engine, chassis, and seat, which gives a strong claim to the Bullet as being the most unchanged products in continuous production.

Royal Enfield was purchased by Eicher Motors in 1994 and the company has experienced tremendous growth ever since. My chart only goes back to 2004, but even since then the stock has achieved over an 18,000% gain in that time frame. This is an annualized return of over 30% from 2004 to present.

The bullet outsells most of Royal Enfield’s other options in Inida, including more modern bikes. It is a cultural phenomenon in India and countries abroad. The bikes themselves just never seem die and can be fixed by virtually anyone anywhere. The bikes are extremely affordable at around $2,500, so for populations that can’t imagine even owning a home one day, the Bullet is ambitious, classy, iconic, and attainable.

Can you think of any other products, such as this, that could endure almost a century of change around it without changing much itself?