Hero Cycles

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Hero Cycles
TypePrivate company
IndustryBicycles
Founded1956
FounderBrijmohan Lall Munjal, Om Prakash Munjal, Satyanand Munjal, Dayanand Munjal
HeadquartersLudhiana, Punjab, India
Key people
Pankaj M Munjal[1][2]
ProductsBicycles
Revenue26 billion (US$360 million) 2017–2018[3][4]
Total assets76.40 billion (US$1.1 billion) [5] (2017–2018)
Number of employees
7610
ParentHero Motors Company [6]
Websitewww.herocycles.com

Hero Cycles Limited, based in Ludhiana Punjab, is an Indian company that manufactures bicycles and bicycle related products.[7] Pankaj M Munjal[8] is the Chairman & Managing Director of Hero Cycles.

History[edit]

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 19,000 cycles per day.[9] [10] Hero Cycles Ltd. is part of Hero Motors Company.[11] In 2016 Hero cycles exported to over 70 countries world-wide.[12][13] 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.[14][15][16][17][18] Hero Cycles bought the Firefox bicycle brand in 2015.[19][20][21][22]

In 2015, Hero Cycles Lt. bought a majority stake in Avocet Sports Ltd., a UK distributor of bicycles, e-bikes, bicycle parts, and accessories.[23][24][25] Insync Bikes brand was launched by Avocet in November 2018.[26] In 2019, Hero bought a majority stake in German e-bike manufacturer HNF-Nicolai.[27][28][29] In 2016 Hero bought 60% of Sri Lankan bicycle manufacturer BSH Ventures.[30][31][32][33]

In 1986 the Guinness World Records called Hero Cycles the largest bicycle manufacturer in the world.[34] for being the single largest producer of bicycles.

Group structure[edit]

Hero Cycles is part of Hero Motors Company (HMC).[35]

The HMC family[36][37] is made up of organizations such as Hero Cycles Ltd., Avocet Sports (UK),[38] BSH (Sri Lanka), Firefox,[39] Spur,[40] HGD,[41] Hero Motors,[42] Munjal Hospitality,[43][44] Munjal Kiriu,[45] ZF Hero[46] and OMA.[47]

Plants[edit]

Hero Cycles, Ludhiana, Punjab[48]

Hero Cycles, Ghaziabad, Uttar Pradesh[49]

Hero Cycles, Bihta, Bihar[50]

BSH Ventures Pvt. Ltd., Sri Lanka[51]

ZF HERO Chasis Systems, Pune, Mahrashtra[52][53]

ZF HERO Chasis Systems, Chennai, Tamil Nadu[54]

Munjal Kiriu, Manesar, Haryana[55]

Munjal Kiriu, Ahmedabad, Gujarat[56][57]

See also[edit]

References[edit]

  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 January 2013.
  3. ^ "HMC revenue reaches to INR 2600 Cr". epaper.bhaskar.com. 27 December 2017. Retrieved 27 December 2017.
  4. ^ "HMC revenue expected to reache INR 2600 Cr". dainiksaveratimes.epapr.in. 27 December 2017. Retrieved 27 December 2017.
  5. ^ "The cycle king". business-standard.com. 21 January 2013.
  6. ^ "Hero Cycles gets new identity – Hero Motors". timesofindia.indiatimes.com. 20 April 2017. Retrieved 20 April 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. ^ "India's Hero Cycles on the cusp of becoming world's largest bicycle manufacturer". Cycling Industry News. 25 April 2018. Retrieved 15 January 2021.
  11. ^ "Hero Cycles gets new identity – Hero Motors". timesofindia.indiatimes.com. 20 April 2017. Retrieved 20 April 2017.
  12. ^ "Hero Cycles Breaks Record in Sales on Home Market". bike-eu.com. 7 January 2016.
  13. ^ "Hero Motors to supply transmissions for electric truck in UK". auto.economictimes.indiatimes.com. 6 November 2017.
  14. ^ "Hero launches 17 new Hero Sprint Pro cycles; priced up to Rs 15,000". indiatoday.intoday.in. 24 August 2016.
  15. ^ "Hero Cycles to unveil 400 Sprint stores". auto.economictimes.indiatimes.com. 28 September 2017.
  16. ^ "Hero Cycles Launches New Advertising Campaign "Choose Different" with Arjun Kapoor for 'Hero Sprint Bike RXR' Cycles". businesswireindia.com. 5 November 2015.
  17. ^ "Hero Cycles launches new advertising campaign with Arjun Kapoor for 'Hero Sprint bike RXR' Cycles". indiablooms.com. 3 November 2015.
  18. ^ "Hero Cycles acquires Firefox Bikes in all-cash transaction". thehindu.com. 17 September 2015.
  19. ^ "Hero Cycles acquires Firefox Bikes in all-cash transaction". economictimes.indiatimes.com. 18 September 2015.
  20. ^ "Eyeing premium segment, Hero Cycles acquires Firefox Bikes". tribuneindia.com. 18 September 2015.
  21. ^ Raj, Amrit (17 September 2015). "Hero Cycles buys Firefox Bikes for Rs150 crore".
  22. ^ Bureau, Our (17 September 2015). "Hero Cycles buys Firefox Bikes in all-cash deal".
  23. ^ "Hero Cycles acquires majority stake in UK's Avocet Sports". 13 August 2015 – via The Economic Times.
  24. ^ Pandey, Navadha (12 August 2015). "For Europe ride, Hero Cycles acquires UK company Avocet Sports".
  25. ^ "Hero Cycles Q&A". BikeBiz. 9 June 2016. Retrieved 30 January 2021.
  26. ^ "Hero Cycles launches Insync house brand touted as an "industry disruptor"". Cycling Industry News. 3 May 2018. Retrieved 28 November 2018.
  27. ^ "Hero Cycles Acquires Strategic Stake HNF-Nicolai". Bike Europe. 9 January 2020. Retrieved 10 February 2021.
  28. ^ "Hero Cycles acquires 48% stake in Germany's HNF Nicolai". Cycling Industry News. 9 January 2020. Retrieved 30 January 2021.
  29. ^ "Baker Tilly advises Hero Cycles on entry into German e-bike market". www.bakertilly.de. Retrieved 30 January 2021.
  30. ^ "Hero Cycles acquires 60% stake in Sri Lanka's BSH Ventures". economictimes.indiatimes.com. 23 March 2016.
  31. ^ "Hero acquires Firefox Bikes, eyes premium cycles market". 18 September 2015.
  32. ^ "Hero Cycles acquires Firefox Bikes in all-cash transaction". financialexpress.com. 17 September 2015.
  33. ^ "Hero Cycles acquires stake in UK's Avocet Sports". tribuneindia.com. 13 August 2015.
  34. ^ "Riding a new high". indiatoday.intoday.in. 15 October 1987.
  35. ^ "Hero Cycles Led HMC Records Highest Revenue". menafn.com. 29 December 2017.
  36. ^ "Hero Motors Group elevates Pankaj Munjal as CMD". thehindu.com. 20 July 2015.
  37. ^ "Hero Group: How embarrassment led to the creation of world's largest bicycle empire". entrepreneur.com. 1 October 2015.
  38. ^ "Hero Cycles plans to set up global design centre in UK". thehindubusinessline.com. 22 November 2016.
  39. ^ "Hero Cycles buys Firefox Bikes for Rs150 crore". livemint.com. 18 September 2015.
  40. ^ "Hero Cycles Q&A". bikebiz.com. 9 June 2016.
  41. ^ "GLOBAL BIKE MANUFACTURER UNVEILS £2M MANCHESTER DESIGN CENTRE". bqlive.co.uk. 30 January 2017.
  42. ^ "Hero Cycle Group's transmission division to supply gears to Ducati". timesofindia.indiatimes.com. 14 October 2016.
  43. ^ "Hero's hospitality foray begins with Marriott deal". business-standard.com. 21 January 2013.
  44. ^ "Hero Group putting up a Rs650 crore hotel in Gurgaon". dnaindia.com. 6 September 2011.
  45. ^ "Munjal Kiriu Industries commissions new auto component plant in Gujarat". business-standard.com. 20 September 2017.
  46. ^ "ZF Hero Chassis System inaugurates new plant". indiancarsbikes.in. 26 September 2015.
  47. ^ "Hero Motors launches AUMA, enters restaurant business". business-standard.com. 21 January 2013.
  48. ^ "Hero Cycles eyes setting up Rs. 400 cr project". thehindubusinessline.com. 22 April 2017.
  49. ^ "Hero Cycles opens aluminium cycle unit at Ghaziabad". thehindubusinessline.com. 12 August 2013.
  50. ^ "Investment pedals in with Hero". telegraphindia.com. 27 August 2014.
  51. ^ "Hero Cycles' Lankan acquisition to serve as gateway for exports to Europe & high-end bicycles to India". businesstoday.in. 4 May 2016.
  52. ^ "ZF goes all out to increase localisation". autocarpro.in. 6 October 2016.
  53. ^ "ZF sets up Plant in Pune, India for heavy truck transmissions". machinist.in. 27 October 2010.
  54. ^ "ZF Hero starts assembling chassis for BMW". economictimes.indiatimes.com. 1 October 2015.
  55. ^ "Hero Motors sells 17.6 % stake in Munjal Kiriu Industries". thehindu.com. 14 February 2011.
  56. ^ "Hero Motors invests Rs.150Cr, installs new manufacturing unit under joint venture with Kiriu, Japan". thehansindia.com. 21 September 2017.
  57. ^ "HeroMotors-led casting venture commissions ₹150-crore plant in Gujarat". thehindubusinessline.com. 20 September 2017.

External links[edit]