Type Private company Key people Om Prakash Munjal Website www.herocycles.com Founded 1956 Subsidiaries Hero MotoCorp | Industry Bicycles Products Bicycles Headquarters Ludhiana Motto Cycle of Life Parent organization The Hero Group, Ltd. | |
 | ||
Revenue ₹16.50 billion (US$250 million) 2010-2011 Founders Satyanand Munjal, Brijmohan Lall Munjal, Dayanand Munjal, Om Prakash Munjal Profiles | ||
Hero cycles corporate video
Hero Cycles Limited, based in Ludhiana Punjab, India is a manufacturer of bicycles and bicycle related products. Mr Pankaj Munjal is the Managing Director of Hero Cycles.
Contents
Hero cycles sprint
History
Hero Cycles was established in 1956 and started with manufacturing cycle components. Today, Hero Cycles is the world’s largest manufacturer of Bicycles and producing 19,000 cycles per day.
Based in Ludhiana, the Company has fully equipped in-house R & D facilities and its most modern and sprawling unit in Ludhiana produces all the major components like Frame, Fork, Handle, Rims, Mudguards, etc. within its premises under stringent quality parameters meeting global standards. It was also the first one to introduce aluminum frame bicycles in India. Presently, Hero Cycles is exporting to many countries under the brand name HAWK is known for its ‘mass appeal’ & ‘cost leadership’.
The company has over 250 suppliers network, approx. 2800 dealerships & over 4,300 employees and moreover ISO 9001 & ISO 14001 certification from BVC of UK and recognized R&D department by the Govt. of India. Hero Cycles has also entered into Mid Premium, Premium & Super Premium segment under the brand names Hero Sprint, Hero Sprint Pro & UT (formerly called —Urbantrail). As part of its strategy to further cement its position in the fast-growing premium cycling segment in India Hero Cycles recently also acquired Firefox Bikes, India’s largest premium bicycle brand. Firefox Bikes, which has an established presence pan-India through a network of 160 outlets, has been growing at a 3-year CAGR of 35% in revenue.
Hero Cycles Ltd, recently also announced its acquisition of 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.
Recently the company has also acquired a majority stake in Sri Lanka’s leading bicycle manufacturer BSH Ventures, further boosting its manufacturing capacity.
Hero’s unwavering passion of setting higher standards for itself and delivering simply the best, had not only found it a place in the Guinness Book of World Records for being the single largest producers of bicycles but also in the hearts of many- million satisfied bikers.
Hero’s inspiring journey is backed up by determination and dynamism of its top leadership, which flows down the line unceasingly. A never-ending urge to better themselves and create still better products for their customers, has been their hallmark. Newness is self-inflicted completion by always striving to innovate and improve every aspect of their dealings. The ability to break the shackles of doubt and dare to think big is largely responsible for the place of unimpeachable trust Hero enjoys everywhere. Charting a route of success from a small town like Ludhiana to become the world’s largest and best is indeed a herculean task by any standards.