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$330 million) 2017–2018 [3] [4] |
Total assets | ₹76.40 billion (US$960 million) [5] (2017–2018) |
Number of employees | 7610 |
Parent | Hero Motors Company [6] |
Website | www.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 and managing director of Hero Cycles.
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. [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.
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 Bikes (not to be confused with the browser by Mozilla), [39] Spur, [40] HGD, [41] Hero Motors, [42] Munjal Hospitality, [43] [44] Munjal Kiriu, [45] ZF Hero [46] and OMA. [47]
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, Maharashtra [52] [53]
ZF HERO Chasis Systems, Chennai, Tamil Nadu [54]
KTM AG is an Austrian motorcycle, bicycle and sports car manufacturer owned by Pierer Mobility AG and the Indian manufacturer Bajaj Auto. It was formed in 1992 but traces its foundation to as early as 1934. Today, KTM AG is the parent company of the KTM Group, consisting of a number of motorcycle brands.
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Om Prakash Munjal was an Indian businessman, poet and philanthropist. He was the founder and chairman of Hero Cycles, the world's largest integrated bicycle manufacturing company by volume and Hero Motors, an Indian two-wheeler components manufacturer, and ventured into newer business fields including luxury hotels and four-wheeler components. He is also known for philanthropic activities of running various schools and hospitals. He died on 13 August 2015 at DMC Hero Heart Centre, Ludhiana.
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Pankaj M Munjal is an Indian businessman, and chairman and managing director of Hero Cycles Limited, based in Punjab, India, taking over the company from his father in 2015.
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