Hero Cycles

Hero Cycles Limited
Private company
Industry Bicycles
Founded 1956
Headquarters Ludhiana, Punjab, India
Key people
 Pankaj M Munjal[1][2]
Products Bicycles
Revenue ₹26 billion (US$360 million) 2017-2018[3][4]
Total assets ₹76.40 billion (US$1.1 billion) [5] (2017-2018)
Number of employees
 7610
Parent

Hero Motors Company

[6]
Website www.herocycles.com

Hero Cycles Limited, based in Ludhiana Punjab, India is a manufacturer of bicycles and bicycle related products.[7] Mr Pankaj M Munjal[8] is the Chairman & Managing Director of Hero Cycles.

History

Hero Cycles was established in 1956 in Ludhiana Punjab and started with manufacturing bicycle components. Today, Hero Cycles is the one of the world’s largest manufacturer of Bicycles and producing 19,000 cycles per day.[9] Hero Cycles is part of Hero Motors Company.[10]

At present, Hero cycles exports[11] to over 70 countries including Germany, Poland, Africa, Finland,UK[12] and Europe etc. The company is ISO9001 & ISO14001 Certified from BVC of UK and recognized by the R&D department by the Govt. of India.

The company has over 250 suppliers network, approx. 2800 dealerships & over 7610 employees. Hero Cycles has also entered into Mid Premium, Premium & Super Premium segment under the brand names Hero Sprint,[13][14][15] Hero Sprint Pro[16] & UT (formerly called —Urbantrail).[17] As part of its strategy to further cement its position in the fast-growing premium cycling segment in India, Hero Cycles acquired Firefox Bikes, India’s largest premium bicycle brand. Firefox Bikes has established presence pan-India through a network of 160 outlets and has been growing at a 3-year CAGR of 35% in revenue.[18][19][20][21]

Hero Cycles Ltd, also has acquired majority stake in Avocet Sports Limited, to mark its entry into the high-value cycle market in Europe as part of its aggressive growth plans in Europe. Avocet is one of the top three distributors of bicycles, e-bikes, bicycle parts and accessories in the UK.[22][23]

The company has also acquired a majority stake in Sri Lanka’s leading bicycle manufacturer BSH Ventures, further boosting its manufacturing capacity.[24][25][26][27]

Hero’s has found it a place in the Guinness Book of World Records[28] for being the single largest producers of bicycles.

Group structure

Hero Cycles is part of Hero Motors Company (HMC).[29]

The HMC family[30][31] is made up of organizations such as Hero Cycles Ltd., Avocet Sports (UK),[32] BSH (Sri Lanka), Firefox,[33] Spur,[34] HGD,[35] Hero Motors,[36] Munjal Hospitality,[37][38] Munjal Kiriu,[39] ZF Hero[40] and OMA.[41]

Plants

Hero Cycles, Ludhiana, Punjab[42]

Hero Cycles, Ghaziabad, Uttar Pradesh[43]

Hero Cycles, Bihta, Bihar[44]

BSH Ventures Pvt. Ltd., Sri Lanka[45]

ZF HERO Chasis Systems, Pune, Mahrashtra[46][47]

ZF HERO Chasis Systems, Chennai, Tamil Nadu[48]

Munjal Kiriu, Manesar, Haryana[49]

Munjal Kiriu, Ahmedabad, Gujarat[50][51]

See also

References

  1. ↑ "Hero Motors Group elevates Pankaj Munjal as CMD". www.thehindu.com. 20 July 2015. Retrieved 20 July 2015.
  2. ↑ "The cycle king". business-standard.com. 21 Jan 2013.
  3. ↑ "HMC revenue reaches to INR 2600 Cr". epaper.bhaskar.com. 27 Dec 2017. Retrieved 27 Dec 2017.
  4. ↑ "HMC revenue expected to reache INR 2600 Cr". dainiksaveratimes.epapr.in. 27 Dec 2017. Retrieved 27 Dec 2017.
  5. ↑ "The cycle king". business-standard.com. 21 Jan 2013.
  6. ↑ "Hero Cycles gets new identity - Hero Motors". timesofindia.indiatimes.com. 20 Apr 2017. Retrieved 20 Apr 2017.
  7. ↑ "Hero Cycles Ltd". Herocycles.com. Archived from the original on 7 August 2011. Retrieved 10 August 2011.
  8. ↑ "Hero Cycles & other group companies elevate Pankaj Munjal as new Chairman & MD". auto.economictimes.indiatimes.com. 20 July 2015. Retrieved 20 July 2015.
  9. ↑ "Forbes India Magazine - Print". www.forbesindia.com.
  10. ↑ "Hero Cycles gets new identity - Hero Motors". timesofindia.indiatimes.com. 20 Apr 2017. Retrieved 20 Apr 2017.
  11. ↑ "Hero Cycles Breaks Record in Sales on Home Market". bike-eu.com. 7 Jan 2016.
  12. ↑ "Hero Motors to supply transmissions for electric truck in UK". auto.economictimes.indiatimes.com. 6 Nov 2017.
  13. ↑ "Hero Cycles to unveil 400 Sprint stores". auto.economictimes.indiatimes.com. 28 Sep 2017.
  14. ↑ "Hero Cycles Launches New Advertising Campaign "Choose Different" with Arjun Kapoor for 'Hero Sprint Bike RXR' Cycles". businesswireindia.com. 5 Nov 2015.
  15. ↑ "Hero Cycles launches new advertising campaign with Arjun Kapoor for 'Hero Sprint bike RXR' Cycles". indiablooms.com. 3 Nov 2015.
  16. ↑ "Hero launches 17 new Hero Sprint Pro cycles; priced up to Rs 15,000". indiatoday.intoday.in. 24 Aug 2016.
  17. ↑ "Hero Cycles acquires Firefox Bikes in all-cash transaction". thehindu.com. 17 Sep 2015.
  18. ↑ "Hero Cycles acquires Firefox Bikes in all-cash transaction". economictimes.indiatimes.com. 18 Sep 2015.
  19. ↑ "Eyeing premium segment, Hero Cycles acquires Firefox Bikes". tribuneindia.com. 18 Sep 2015.
  20. ↑ Raj, Amrit (17 September 2015). "Hero Cycles buys Firefox Bikes for Rs150 crore".
  21. ↑ Bureau, Our (17 September 2015). "Hero Cycles buys Firefox Bikes in all-cash deal".
  22. ↑ "Hero Cycles acquires majority stake in UK's Avocet Sports". 13 August 2015 – via The Economic Times.
  23. ↑ Pandey, Navadha (12 August 2015). "For Europe ride, Hero Cycles acquires UK company Avocet Sports".
  24. ↑ "Hero Cycles acquires 60% stake in Sri Lanka's BSH Ventures". economictimes.indiatimes.com. 23 March 2016.
  25. ↑ "Hero acquires Firefox Bikes, eyes premium cycles market". 18 September 2015.
  26. ↑ "Hero Cycles acquires Firefox Bikes in all-cash transaction". financialexpress.com. 17 September 2015.
  27. ↑ "Hero Cycles acquires stake in UK's Avocet Sports". tribuneindia.com. 13 Aug 2015.
  28. ↑ "Riding a new high". indiatoday.intoday.in. 15 Oct 1987.
  29. ↑ "Hero Cycles Led HMC Records Highest Revenue". menafn.com. 29 Dec 2017.
  30. ↑ "Hero Motors Group elevates Pankaj Munjal as CMD". thehindu.com. 20 July 2015.
  31. ↑ "Hero Group: How embarrassment led to the creation of world's largest bicycle empire". entrepreneur.com. 1 Oct 2015.
  32. ↑ "Hero Cycles plans to set up global design centre in UK". thehindubusinessline.com. 22 Nov 2016.
  33. ↑ "Hero Cycles buys Firefox Bikes for Rs150 crore". livemint.com. 18 Sep 2015.
  34. ↑ "Hero Cycles Q&A". bikebiz.com. 9 June 2016.
  35. ↑ "GLOBAL BIKE MANUFACTURER UNVEILS £2M MANCHESTER DESIGN CENTRE". bqlive.co.uk. 30 Jan 2017.
  36. ↑ "Hero Cycle Group's transmission division to supply gears to Ducati". timesofindia.indiatimes.com. 14 Oct 2016.
  37. ↑ "Hero's hospitality foray begins with Marriott deal". business-standard.com. 21 Jan 2013.
  38. ↑ "Hero Group putting up a Rs650 crore hotel in Gurgaon". dnaindia.com. 6 Sep 2011.
  39. ↑ "Munjal Kiriu Industries commissions new auto component plant in Gujarat". business-standard.com. 20 Sep 2017.
  40. ↑ "ZF Hero Chassis System inaugurates new plant". indiancarsbikes.in. 26 Sep 2015.
  41. ↑ "Hero Motors launches AUMA, enters restaurant business". business-standard.com. 21 Jan 2013.
  42. ↑ "Hero Cycles eyes setting up Rs. 400 cr project". thehindubusinessline.com. 22 Apr 2017.
  43. ↑ "Hero Cycles opens aluminium cycle unit at Ghaziabad". thehindubusinessline.com. 12 Aug 2013.
  44. ↑ "Investment pedals in with Hero". telegraphindia.com. 27 Aug 2014.
  45. ↑ "Hero Cycles' Lankan acquisition to serve as gateway for exports to Europe & high-end bicycles to India". businesstoday.in. 4 May 2016.
  46. ↑ "ZF goes all out to increase localisation". autocarpro.in. 6 Oct 2016.
  47. ↑ "ZF sets up Plant in Pune, India for heavy truck transmissions". machinist.in. 27 Oct 2010.
  48. ↑ "ZF Hero starts assembling chassis for BMW". economictimes.indiatimes.com. 1 Oct 2015.
  49. ↑ "Hero Motors sells 17.6 % stake in Munjal Kiriu Industries". thehindu.com. 14 Feb 2011.
  50. ↑ "Hero Motors invests Rs.150Cr, installs new manufacturing unit under joint venture with Kiriu, Japan". thehansindia.com. 21 Sep 2017.
  51. ↑ "HeroMotors-led casting venture commissions ₹150-crore plant in Gujarat". thehindubusinessline.com. 20 Sep 2017.
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