Hero Cycles
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Company type | Private company |
---|---|
Industry | Bicycles |
Founded | 1956 |
Founder |
|
Headquarters | Ludhiana, Punjab, India |
Key people | Pankaj M Munjal[1][2] |
Products | Bicycles |
Revenue | ₹26 billion (US$310 million) 2017–2018[3][4] |
Total assets | ₹76.40 billion (US$920 million) [2] (2017–2018) |
Number of employees | 7610 |
Parent | Hero Motors Company [5] |
Website | www.herocycles.com |
Hero Cycles Limited, based in Ludhiana, Punjab, is an Indian company that manufactures bicycles and bicycle related products.[6] Pankaj M Munjal[7] is the chairman and managing director of Hero Cycles.
History
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Hero_Cycles_side.jpg/220px-Hero_Cycles_side.jpg)
Hero Cycles was established in 1956 in Ludhiana Punjab, manufacturing bicycle components. Today, Hero Cycles is one of the world's largest manufacturers of bicycles, producing 18390 cycles per day.[8][9] Hero Cycles Ltd. is part of Hero Motors Company.[10] In 2016 Hero cycles exported to over 70 countries world-wide.[11][12] The company is ISO9001 & ISO14001 certified.
The company acts in part as a white label manufacturer to various brands, in addition to selling motorcycles under the Hero and UT (formerly Urbantrail) brands.[13][14][15][16][17] Hero Cycles bought the Firefox bicycle brand in 2015.[18][19][20][21]
In 2015, Hero Cycles Lt. bought a majority stake in Avocet Sports Ltd., a UK distributor of bicycles, e-bikes, bicycle parts, and accessories.[22][23][24] Insync Bikes brand was launched by Avocet in November 2018.[25] In 2019, Hero bought a majority stake in German e-bike manufacturer HNF-Nicolai.[26][27][28] In 2016, Hero bought 60% of Sri Lankan bicycle manufacturer BSH Ventures.[29][30][31][32]
In 1986, the Guinness World Records called Hero Cycles the largest bicycle manufacturer in the world.[33] for being the single largest producer of bicycles.
Group structure
[edit]Hero Cycles is part of Hero Motors Company (HMC).[34]
The HMC family[35][36] is made up of organizations such as Hero Cycles Ltd., Avocet Sports (UK),[37] BSH (Sri Lanka), Firefox Bikes (not to be confused with the browser by Mozilla),[38] Spur,[39] HGD,[40] Hero Motors,[41] Munjal Hospitality,[42][43] Munjal Kiriu,[44] ZF Hero[45] and OMA.[46]
Plants
[edit]Hero Cycles, Ludhiana, Punjab[47]
Hero Cycles, Ghaziabad, Uttar Pradesh[48]
BSH Ventures Pvt. Ltd., Sri Lanka[50]
ZF HERO Chasis Systems, Pune, Maharashtra[51][52]
ZF HERO Chasis Systems, Chennai, Tamil Nadu[53]
Munjal Kiriu, Manesar, Haryana[54]
Munjal Kiriu, Ahmedabad, Gujarat[55][56]
See also
[edit]References
[edit]- ^ "Hero Motors Group elevates Pankaj Munjal as CMD". www.thehindu.com. 20 July 2015. Retrieved 20 July 2015.
- ^ a b "The cycle king". business-standard.com. 21 January 2013.
- ^ "HMC revenue reaches to INR 2600 Cr". epaper.bhaskar.com. 27 December 2017. Retrieved 27 December 2017.
- ^ "HMC revenue expected to reache INR 2600 Cr". dainiksaveratimes.epapr.in. 27 December 2017. Retrieved 27 December 2017.
- ^ "Hero Cycles gets new identity – Hero Motors". timesofindia.indiatimes.com. 20 April 2017. Retrieved 20 April 2017.
- ^ "Hero Cycles Ltd". Herocycles.com. Archived from the original on 7 August 2011. Retrieved 10 August 2011.
- ^ "Hero Cycles & other group companies elevate Pankaj Munjal as new Chairman & MD". auto.economictimes.indiatimes.com. 20 July 2015. Retrieved 20 July 2015.
- ^ "Forbes India Magazine – Print". www.forbesindia.com.
- ^ "India's Hero Cycles on the cusp of becoming world's largest bicycle manufacturer". Cycling Industry News. 25 April 2018. Retrieved 15 January 2021.
- ^ "Hero Cycles gets new identity – Hero Motors". timesofindia.indiatimes.com. 20 April 2017. Retrieved 20 April 2017.
- ^ "Hero Cycles Breaks Record in Sales on Home Market". bike-eu.com. 7 January 2016.
- ^ "Hero Motors to supply transmissions for electric truck in UK". auto.economictimes.indiatimes.com. 6 November 2017.
- ^ "Hero launches 17 new Hero Sprint Pro cycles; priced up to Rs 15,000". indiatoday.intoday.in. 24 August 2016.
- ^ "Hero Cycles to unveil 400 Sprint stores". auto.economictimes.indiatimes.com. 28 September 2017.
- ^ "Hero Cycles Launches New Advertising Campaign "Choose Different" with Arjun Kapoor for 'Hero Sprint Bike RXR' Cycles". businesswireindia.com. 5 November 2015.
- ^ "Hero Cycles launches new advertising campaign with Arjun Kapoor for 'Hero Sprint bike RXR' Cycles". indiablooms.com. 3 November 2015.
- ^ "Hero Cycles acquires Firefox Bikes in all-cash transaction". thehindu.com. 17 September 2015.
- ^ "Hero Cycles acquires Firefox Bikes in all-cash transaction". economictimes.indiatimes.com. 18 September 2015.
- ^ "Eyeing premium segment, Hero Cycles acquires Firefox Bikes". tribuneindia.com. 18 September 2015.
- ^ Raj, Amrit (17 September 2015). "Hero Cycles buys Firefox Bikes for Rs150 crore".
- ^ "Hero Cycles buys Firefox Bikes in all-cash deal". 17 September 2015.
- ^ "Hero Cycles acquires majority stake in UK's Avocet Sports". The Economic Times. 13 August 2015.
- ^ Pandey, Navadha (12 August 2015). "For Europe ride, Hero Cycles acquires UK company Avocet Sports".
- ^ "Hero Cycles Q&A". BikeBiz. 9 June 2016. Retrieved 30 January 2021.
- ^ "Hero Cycles launches Insync house brand touted as an "industry disruptor"". Cycling Industry News. 3 May 2018. Retrieved 28 November 2018.
- ^ "Hero Cycles Acquires Strategic Stake HNF-Nicolai". Bike Europe. 9 January 2020. Retrieved 10 February 2021.
- ^ "Hero Cycles acquires 48% stake in Germany's HNF Nicolai". Cycling Industry News. 9 January 2020. Retrieved 30 January 2021.
- ^ "Baker Tilly advises Hero Cycles on entry into German e-bike market". www.bakertilly.de. Retrieved 30 January 2021.
- ^ "Hero Cycles acquires 60% stake in Sri Lanka's BSH Ventures". economictimes.indiatimes.com. 23 March 2016.
- ^ "Hero acquires Firefox Bikes, eyes premium cycles market". 18 September 2015.
- ^ "Hero Cycles acquires Firefox Bikes in all-cash transaction". financialexpress.com. 17 September 2015.
- ^ "Hero Cycles acquires stake in UK's Avocet Sports". tribuneindia.com. 13 August 2015.
- ^ "Riding a new high". indiatoday.intoday.in. 15 October 1987.
- ^ "Hero Cycles Led HMC Records Highest Revenue". menafn.com. 29 December 2017.
- ^ "Hero Motors Group elevates Pankaj Munjal as CMD". thehindu.com. 20 July 2015.
- ^ "Hero Group: How embarrassment led to the creation of world's largest bicycle empire". entrepreneur.com. 1 October 2015.
- ^ "Hero Cycles plans to set up global design centre in UK". thehindubusinessline.com. 22 November 2016.
- ^ "Hero Cycles buys Firefox Bikes for Rs150 crore". livemint.com. 18 September 2015.
- ^ "Hero Cycles Q&A". bikebiz.com. 9 June 2016.
- ^ "GLOBAL BIKE MANUFACTURER UNVEILS £2M MANCHESTER DESIGN CENTRE". bqlive.co.uk. 30 January 2017.
- ^ "Hero Cycle Group's transmission division to supply gears to Ducati". timesofindia.indiatimes.com. 14 October 2016.
- ^ "Hero's hospitality foray begins with Marriott deal". business-standard.com. 21 January 2013.
- ^ "Hero Group putting up a Rs650 crore hotel in Gurgaon". dnaindia.com. 6 September 2011.
- ^ "Munjal Kiriu Industries commissions new auto component plant in Gujarat". business-standard.com. 20 September 2017.
- ^ "ZF Hero Chassis System inaugurates new plant". indiancarsbikes.in. 26 September 2015.
- ^ "Hero Motors launches AUMA, enters restaurant business". business-standard.com. 21 January 2013.
- ^ "Hero Cycles eyes setting up Rs. 400 cr project". thehindubusinessline.com. 22 April 2017.
- ^ "Hero Cycles opens aluminium cycle unit at Ghaziabad". thehindubusinessline.com. 12 August 2013.
- ^ "Investment pedals in with Hero". telegraphindia.com. 27 August 2014. Archived from the original on 29 August 2014.
- ^ "Hero Cycles' Lankan acquisition to serve as gateway for exports to Europe & high-end bicycles to India". businesstoday.in. 4 May 2016.
- ^ "ZF goes all out to increase localisation". autocarpro.in. 6 October 2016.
- ^ "ZF sets up Plant in Pune, India for heavy truck transmissions". machinist.in. 27 October 2010.
- ^ "ZF Hero starts assembling chassis for BMW". economictimes.indiatimes.com. 1 October 2015.
- ^ "Hero Motors sells 17.6 % stake in Munjal Kiriu Industries". thehindu.com. 14 February 2011.
- ^ "Hero Motors invests Rs.150Cr, installs new manufacturing unit under joint venture with Kiriu, Japan". thehansindia.com. 21 September 2017.
- ^ "HeroMotors-led casting venture commissions ₹150-crore plant in Gujarat". thehindubusinessline.com. 20 September 2017.