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Tag: Pankaj Munjal

  • HMC Group plans to triple exports, intl revenue to Rs 3000 cr by FY24

    HMC Group plans to triple exports, intl revenue to Rs 3000 cr by FY24

    Mumbai: Riding on strong global demand for bicycles, e-bikes and automotive components, Hero Motors Company (HMC) Group is set to cross Rs 1000 crore in exports and international revenue by FY22, an increase of 92 per cent over FY 21. The company has set a target for further trebling this figure to Rs 3000 crore by FY 24, banking on high growth in the European and American markets.

    The projections come at a time when the integrated bicycle manufacturer HMC Group marks its 65th Founder’s Day.

    “With the first batch of ‘made in India’ HNF e-bikes to the European market and the launch of Hero E-cycle Valley, we are looking forward to robust global expansion and marking a major leap for indigenous manufacturing,” said HMC, chairman and MD, Pankaj M Munjal. “We are confident of crossing Rs 1000 crore of exports and international revenue and meeting another ambitious target of Rs 3000 crore by FY 24.”

    During the pandemic, Hero Cycles has retained its market-leading share of about 43 per cent in the organised industry and led what is termed by CRISIL as the decadal-high growth in demand for cycles. With the plan to expand the business, this year, Hero Motors Company unveiled its new hi-end export-oriented manufacturing plant at the ambitious Hero E Cycle Valley, giving the company an edge in production of premium bicycles and e-cycles.

    Operationalising the first phase of the Hero E Cycle Valley (Hero Industrial Park) will augment HMC’s annual production capacity to 10 million units, with a production of four million premium bicycles and e-cycles, majorly for global consumption. The Park aims to achieve complete localisation of component production by housing a series of international suppliers.

    On the international front, Hero International – the European bike and e-bike arm of HMC established in March– aims to achieve organic revenue of up to €300 million by 2025, while adding €200 million from inorganic growth. Acquisition of UK brands Avocet Sports and Insync, setting up of a Global Design Centre in Manchester and acquisition of German high-end e-cycles manufacturer HNF are some notable initiatives in the direction of gaining a strong global foothold.

  • Hero Cycles appoints Rohit Sharma as chief communications officer

    Hero Cycles appoints Rohit Sharma as chief communications officer

    MUMBAI:  Hero Cycles announced another senior level executive appointment of Rohit Sharmaas as Chief Communications Officer. His core responsibility is leading and driving all communications for the Hero Cycles group and thereby heading and managing the Public Relations and Corporate Communications functions as well.

     

    According to Pankaj Munjal, CMD, Hero Cycles MD Pankaj Munjal said, “We extend a warm welcome to Rohit Sharma. He joins us as an integral part of our key marketing team. We value the space we occupy in the collective consciousness of the Indian people and amongst our well-wishers. Hero Cycles is fast growing into a brand which stands for quality, friendliness and health. I am sure that Rohit will help develop our reputation capital at all levels and for multiple audience sets simultaneously. I wish Rohit Sharmaall the best in his new innings with us.”

     

    Commenting on his appointment Sharma said, “In my role as the CCO, my endeavour would be to create a brands which people would like to spend their time with and make a part of their everyday lives. I believe that Hero Cycles is a strong culture brand which is both timeless and age agnostic. It represents a free-spirit which and is loved both by the masses as well as the classes. As part of the kaleidoscope of the mother brand Hero, UT and FireFoxbrands hold immense potential and promise. I look forward to assisting our CMD, Mr. Pankaj Munjal in all international and domestic acquisitions as well as entrepreneurial projects which would help further expand the groups’ business and reach across the country and the globe.”

  • Hero Cycles chairman emeritus OP Munjal passes away

    Hero Cycles chairman emeritus OP Munjal passes away

    MUMBAI: Hero Cycles chairman emeritus and one of the founders of Hero Group OP Munjal passed away earlier today (13 August) in Ludhiana.

     

    The 86-year-old industry legend was facing health related issues for the past few months. He is survived by one son, four daughters, a daughter-in-law, four son-in-laws and 10 grandchildren. The cremation will take place on 14 August in Ludhiana.

     

    Munjal had only last month ceded chairmanship of Hero Motors group and retired from active role in the business. His son Pankaj Munjal succeeded him as the chairman and managing director of the Group.

     

    He along with his three brothers Brijmohan Lall Munjal, Dayanand Munjal and Satyanand Munjal started a bicycle spare parts business in Amritsar In 1944. They subsequently moved their base to Ludhiana naming the company ‘Hero’ and set up India’s first bicycle manufacturing unit in 1956. During 1980s Hero Cycles became the largest bicycle manufacturer by volume in the world. Munjal, who led Hero Cycles for almost 60 years, also helped Hero Cycles in diversifying to other businesses such as auto parts manufacturing and hospitality. Under his leadership, the company grew from its humble beginnings to a fledging Rs 3000 crore industrial house. He also served as the president of All India Cycle Manufacturers’ Association.

     

    Munjal had received national honours from former Presidents of India including Sarvepalli Radhakrishnan, VV Giri, Giani Zail Singh and Dr A.P.J. Abdul Kalam. He had also received the Udyog Rattan Award for outstanding contribution towards economic development of the State (Punjab).

     

    He was not only a renowned businessman but also a known philanthropist. He supported several educational institutions and hospitals across India.

  • Hero Cycles gets actor Arjun Kapoor as brand ambassador

    Hero Cycles gets actor Arjun Kapoor as brand ambassador

    NEW DELHI: Actor Arjun Kapoor is the new brand ambassador of Hero Cycles which claims to be the largest bicycle manufacturer in the country.

     

    At a press meet, Kapoor also launched the company’s first limited edition ‘Celebrity’ sports cycle named after the actor, labeled ‘AK edition’.

     

    Hero Cycles co-chairman and MD Pankaj Munjal said, “It has been a monumental year for Hero Cycles for both brand and business initiatives. We are ecstatic that youth icon Arjun Kapoor is now associated with us and will represent our brand and its ethos in the public and media. His resilience to stay fit despite all odds makes him an extremely popular among young generation and the transformation of him as a health and fitness conscious person has made him a great role model. We will soon be coming out with our first TV commercial with Arjun Kapoor which will be one of our major initiatives in recent times.”

     

    Kapoor said, “I am extremely proud of this association with the world’s largest cycle brand. Hero Cycles has shown the world that Indian made products can compete with the best in the world. I am happy to be face of the brand because cycling resonates within me like millions of Indians. Hero Cycles has been part of my life since my childhood just like so many other children in India. I feel cycles are not just a means of transport, but can be one of the best ways to keep fit. I strongly feel cycling should also be taken up by all of us as environment conscious citizens. I am sure that even more and more people will take up cycling in days to come.”

     

    Only 3000 units of ‘AK edition’ Hero Sprit RX-1 sports cycles would be available for fans across the country. These cycles will be adorned with Kapoor’s signature and will have exclusive new range of colours to choose from. These cycles would be available through online and select Hero Cycles retail stores across India.

     

    Munjal and Kapoor also unveiled Hero Cycle’s entry into e-commerce space. The company has tied up Sports365.in, one of India’s leading fitness, recreation and sports-related e-commerce portals, sell its entire range of cycles online. This will further expand Hero Cycles’ geographical reach, thereby making it more convenient for buyers.

     

    Munjal said, “We have been closely watching the evolution of our consumers’ behavioral pattern. We decided to make our entire range of cycles available online to make it easier and more convenient for our buyers to pick, compare and choose from our wide range offerings. These cycles will be home delivered to our customers through our existing channels of distribution.”

     

    Through this tie-up Hero Cycles will now be available on leading e-commerce platforms like Flipkart, Snapdeal, Amazon, Paytm, HealthKart, etc.

     

    “We see online with a potential to become one of our major sales channels, not only giving us access to the urban consumers but also allowing deeper penetration in the rural markets,” Munjal added.

  • Hero Cycles customer reward initiative a hit with customers

    Hero Cycles customer reward initiative a hit with customers

    MUMBAI: Hero Cycles, world’s largest bicycle manufacturer, had recently announced ‘Mega Hero Gifts Festival’ to capture the spirit of festive season. The offer, that entitles each buyer to win assured gifts with the purchase of every Hero cycle, has received an overwhelming response from the customers. The company will be giving away over 9 lakh prizes under this offer.

     
    To avail the offer every customer will have to scratch the promo card being given along with each purchase. Speaking about the success of the offer Pankaj Munjal, Co-Chairman and Managing Director, Hero Cycles said, “We are overwhelmed by the response that we have received from our customers. In just a few days we have been able to achieve several happy and satisfied customers through the offer. Our aim is to provide maximum customer satisfaction through our quality of products and such offers further help in providing enhanced customer experience. This initiative is a part of our customer reward program that aims to bolster our efforts to achieve our sales expansion strategy.”
     

    There are several high value prizes among others to be won under the offer that include Maruti Alto cars, Hero Splendor motor cycles, Apple iPads, LG LCD televisions and Nokia 520 Lumia phones. The offer started from 16th October 2014 and will be valid till 15th December 2014.

     
    Being the world’s largest cycle manufacturers the company manufactured 5.5 million bicycles last year with sales of Rs 2000 crore.

     

  • Hero Motors to sponsor Karthikeyan at Indian GP in October

    Hero Motors to sponsor Karthikeyan at Indian GP in October

    MUMBAI: Hero Motors has announced its association with F1 driver Narain Karthikeyan and his Formula One team.

    Hero Motors will be sponsoring Narain Karthikeyan and his team for the inaugural Formula One Grand Prix to be held in India in October. Hero Motors has agreed to display its logo on Narain‘s racing car in the Grand Prix as a token of its association with the event.

    Hero Motors MD Pankaj Munjal said, “Hero Motors is committed to be amongst the first Indian corporate houses to compete in the Indian Grand Prix and we are indeed very proud to be associated with Narain Karthikeyan and Hispania Racing Team (HRT). The alliance with the HRT will provide a unique platform for the group to communicate its extensive competencies to a global audience.

    “The association with Narain Karthikeyan and HRT team has a lot of synergies in our core values for which we are known for and truly reflects our commitment towards excellence, speed, growth and innovation.

    “We operate in global markets as a truly home grown global corporate house and it gives us immense pleasure to endorse Narain Karthikeyan who is also the first Indian F1 driver who has made his presence felt at an early age of 19 years” Formula One the company says is one of the few sports in the world which has a global audience of millions and enjoys the same recognition in India as anywhere in the world. The upcoming Grand Prix in India provides the precise opportunity for Hero Motors to reinforce its core values. Formula One is a game of speed and passion. The sport is set to make its debut in India this October and the association with Narain Karthikeyan and his team gives Hero Motors the perfect opportunity to present itself to the global audience.

    “The maiden Indian Grand Prix has given us an opportunity to represent ourselves in the international platform promoting the fastest Indian in the world. We are proud of the fact that we will be a part of the historic event when F1 makes its debut in India. Hero Motors always believe in achieving the best and achieve the highest standards in performance, quality and relationships. Narain‘s personality and passion towards speed and adventure perfectly syncs with what we want to achieve” adds Munjal

    Karthikeyan said, “Hero is one of the oldest and most prominent Indian brands and I am pleased to be associated with it. Today is a very important step in the right direction for motor sports in the country. The sport has come a long way since the day I started racing. Viewership has gone up a lot, and corporate support is now more forthcoming. Formula One is in its nascent stage in India with great potential waiting to be explored. I hope with the support from Hero Motors we will be able to scale new milestones in the times to come”.

    The Indian Grand Prix will be held in Greater Noida, India from 28 – 30 October 2011.

  • Hero Cycles renews sponsorship of India Cyclothon

    Hero Cycles renews sponsorship of India Cyclothon

    MUMBAI: Cycling manufacturer Hero Cycles and Sport18, the sports marketing division of the Network18 group, have renewed their association for the Hero Cycles India Cyclothon. Three editions of the event – Delhi on 11 September, Chandigarh on 25 September and Pune on 26 February – will be held.

    The India Cyclothon is a movement to promote the culture of cycling among the citizens and is built on the dual planks of environment conservation and fitness.

    The event in Delhi would feature an International cycling race spanning 105 km. Two Indian teams will feature in the international race.

    Hero CyclesMD Pankaj Munjal said, “It is an event that allows families to enjoy a day out together. We believe that these days there are not too may occasions for families to come play and participate together and this one, with its carnival like atmosphere is designed to make it a memorable day. Away from the confines of the home, away from television and computers, we aim to bring the outdoors alive, cut across age and economic barriers and let families sweat and shine to their heart’s content.”

    Sport18 CEO Satish Menon said, “It is an honour to hold the Cyclothon event for the second time in the Capital, We expect a big turnout for the Hero Cycles India Cyclothon. We have been conducting the India Cyclothon in different parts of the country and believe that in these times of global warming and economic slowdown, cycling is an ideal sport to adopt. It serves the dual purpose of staying healthy and being ecofriendly.”

    India Cyclothon has seen support from the likes of HDFC Standard Life, Hindustan Times, Parle –G. ,Lotto, RedFM, Café Coffee Day, Taj hotels and Bookmyshow. The fund-raising partner for the event is Wishberry.