Hero Cycles
Not to be confused with Hero Group.
 | |
| Private company | |
| Industry | Bicycles |
| Founded | 1956 |
| Headquarters | Ludhiana, Punjab, India |
Key people | Om Prakash Munjal |
| Products | Bicycles |
| Revenue | ₹1650 crore (US$250 million) 2010-2011[1] |
| Subsidiaries | Hero Motocorp, Erik Buell Racing (49.2%, a subsidiary of Hero Motocorp) |
| Slogan | Cycle of Life |
| Website | www.herocycles.com |
HERO SPRINT (along with HERO RAZOR BACK NE in the background)
Hero Bicycle at Bhadrachalam
Hero Cycles Limited, based in Ludhiana Punjab, India, is a manufacturer of bicycles and bicycle related products.[2]
History
Hero group was established by the four Munjal brothers, namely, Om Prakash Munjal, Satyanand Munjal, Late Brijmohan Lall Munjal and Late Dayanand Munjal.
- The brothers hailed from a small town called Kamalia, now in Pakistan.
- The brothers established a business of bicycle spare parts in the year 1944 in Amritsar.
- After partition and independence of India, the brothers moved to Ludhiana and started a bicycle unit called Hero Cycles in 1956.
- By 1975, Hero became the largest manufacturer of bicycles in India with a production of 7500 cycles per day.
- In 1984, Hero group joined Honda Motors of Japan to create Hero Honda Motors Limited which soon became one of the market leader in motor-cycle sales in India.
- In 1986, Hero Cycles produces over 18,500 cycles a day, the highest in global reckoning. With the 48% share of the Indian market, this volume has catapulted Hero in the Guinness Book of World Records as the largest bicycle manufacturer in the world.
- By 2004, Hero Honda became the world's largest manufacturer of two-wheelers with over 48% market share in India.
- In August 2011, Hero and Honda parted company, thus forming Hero MotoCorp and Honda moving out of the Hero Honda joint venture.
- In 2012, Hero crossed the figure of 13 Crore Cycles.
See also
References
- ↑ "Hero Cycles to get into premium segment; to export to US, UK - Economic Times". Articles.economictimes.indiatimes.com. 7 August 2011. Retrieved 10 August 2011.
- ↑ "Hero Cycles Ltd". Herocycles.com. Retrieved 10 August 2011.
External links
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