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Hero Cycles

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

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

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

  • Hero Cycles, Ludhiana, Punjab[47]
  • Hero Cycles, Ghaziabad, Uttar Pradesh[48]
  • Hero Cycles, Bihta, Bihar[49]
  • 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

External links

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. Hero Cycles gets new identity – Hero Motors timesofindia.indiatimes.com, 20 Apr 2017, retrieved 20 Apr 2017^
  4. HMC revenue reaches to INR 2600 Cr epaper.bhaskar.com, 27 Dec 2017, retrieved 27 Dec 2017^
  5. HMC revenue expected to reache INR 2600 Cr dainiksaveratimes.epapr.in, 27 Dec 2017, retrieved 27 Dec 2017^
  6. Hero Cycles Ltd Herocycles.com, retrieved 10 August 2011^
  7. Hero Cycles & other group companies elevate Pankaj Munjal as new Chairman & MD auto.economictimes.indiatimes.com, 20 July 2015, retrieved 20 July 2015^
  8. Forbes India Magazine – Print www.forbesindia.com^
  9. India's Hero Cycles on the cusp of becoming world's largest bicycle manufacturer Cycling Industry News, 2018-04-25, retrieved 2021-01-15^
  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 launches 17 new Hero Sprint Pro cycles; priced up to Rs 15,000 indiatoday.intoday.in, 24 Aug 2016^
  14. Hero Cycles to unveil 400 Sprint stores auto.economictimes.indiatimes.com, 28 Sep 2017^
  15. Hero Cycles Launches New Advertising Campaign "Choose Different" with Arjun Kapoor for 'Hero Sprint Bike RXR' Cycles businesswireindia.com, 5 Nov 2015^
  16. Hero Cycles launches new advertising campaign with Arjun Kapoor for 'Hero Sprint bike RXR' Cycles indiablooms.com, 3 Nov 2015^
  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. Amrit Raj. Hero Cycles buys Firefox Bikes for Rs150 crore 17 September 2015^
  21. Hero Cycles buys Firefox Bikes in all-cash deal 17 September 2015^
  22. Hero Cycles acquires majority stake in UK's Avocet Sports The Economic Times, 13 August 2015^
  23. Navadha Pandey. For Europe ride, Hero Cycles acquires UK company Avocet Sports 12 August 2015^
  24. Hero Cycles Q&A BikeBiz, 2016-06-09, retrieved 2021-01-30^
  25. Hero Cycles launches Insync house brand touted as an "industry disruptor" Cycling Industry News, 2018-05-03, retrieved 2018-11-28^
  26. Hero Cycles Acquires Strategic Stake HNF-Nicolai Bike Europe, 2020-01-09, retrieved 2021-02-10^
  27. Hero Cycles acquires 48% stake in Germany's HNF Nicolai Cycling Industry News, 2020-01-09, retrieved 2021-01-30^
  28. Baker Tilly advises Hero Cycles on entry into German e-bike market www.bakertilly.de, retrieved 2021-01-30^
  29. Hero Cycles acquires 60% stake in Sri Lanka's BSH Ventures economictimes.indiatimes.com, 23 March 2016^
  30. Hero acquires Firefox Bikes, eyes premium cycles market 18 September 2015^
  31. Hero Cycles acquires Firefox Bikes in all-cash transaction financialexpress.com, 17 September 2015^
  32. Hero Cycles acquires stake in UK's Avocet Sports tribuneindia.com, 13 Aug 2015^
  33. Riding a new high indiatoday.intoday.in, 15 Oct 1987^
  34. Hero Cycles Led HMC Records Highest Revenue menafn.com, 29 Dec 2017^
  35. Hero Motors Group elevates Pankaj Munjal as CMD thehindu.com, 20 July 2015^
  36. Hero Group: How embarrassment led to the creation of world's largest bicycle empire entrepreneur.com, 1 Oct 2015^
  37. Hero Cycles plans to set up global design centre in UK thehindubusinessline.com, 22 Nov 2016^
  38. Hero Cycles buys Firefox Bikes for Rs150 crore livemint.com, 18 Sep 2015^
  39. Hero Cycles Q&A bikebiz.com, 9 June 2016^
  40. GLOBAL BIKE MANUFACTURER UNVEILS £2M MANCHESTER DESIGN CENTRE bqlive.co.uk, 30 Jan 2017^
  41. Hero Cycle Group's transmission division to supply gears to Ducati timesofindia.indiatimes.com, 14 Oct 2016^
  42. Hero's hospitality foray begins with Marriott deal business-standard.com, 21 Jan 2013^
  43. Hero Group putting up a Rs650 crore hotel in Gurgaon dnaindia.com, 6 Sep 2011^
  44. Munjal Kiriu Industries commissions new auto component plant in Gujarat business-standard.com, 20 Sep 2017^
  45. ZF Hero Chassis System inaugurates new plant indiancarsbikes.in, 26 Sep 2015^
  46. Hero Motors launches AUMA, enters restaurant business business-standard.com, 21 Jan 2013^
  47. Hero Cycles eyes setting up Rs. 400 cr project thehindubusinessline.com, 22 Apr 2017^
  48. Hero Cycles opens aluminium cycle unit at Ghaziabad thehindubusinessline.com, 12 Aug 2013^
  49. Investment pedals in with Hero telegraphindia.com, 27 Aug 2014^
  50. Hero Cycles' Lankan acquisition to serve as gateway for exports to Europe & high-end bicycles to India businesstoday.in, 4 May 2016^
  51. ZF goes all out to increase localisation autocarpro.in, 6 Oct 2016^
  52. ZF sets up Plant in Pune, India for heavy truck transmissions machinist.in, 27 Oct 2010^
  53. ZF Hero starts assembling chassis for BMW economictimes.indiatimes.com, 1 Oct 2015^
  54. Hero Motors sells 17.6 % stake in Munjal Kiriu Industries thehindu.com, 14 Feb 2011^
  55. Hero Motors invests Rs.150Cr, installs new manufacturing unit under joint venture with Kiriu, Japan thehansindia.com, 21 Sep 2017^
  56. HeroMotors-led casting venture commissions ₹150-crore plant in Gujarat thehindubusinessline.com, 20 Sep 2017^