Hero Cycles


Hero Cycles Limited, based in Ludhiana Punjab, India is a manufacturer of bicycles and bicycle related products. Mr Pankaj M Munjal is the Chairman & Managing Director of Hero Cycles.

History

Hero Cycles was established in 1956 in Ludhiana Punjab and started with manufacturing bicycle components. Today, Hero Cycles is one of the world’s largest manufacturers of bicycles and producing 19,000 cycles per day. Hero Cycles is part of Hero Motors Company.
At present, Hero cycles exports to over 70 countries including Germany, Poland, Africa, Finland, UK and Europe etc. The company is ISO9001 & ISO14001 certified from BVC of UK and recognized by the R&D department by the Indian government.
The company has over 250 suppliers network, approx. 2800 dealerships & over 7610 employees. Hero Cycles has also entered into Mid Premium, Premium & Super Premium segment under the brand names Hero Sprint, Hero Sprint Pro & UT. As part of its strategy to further cement its position in the fast-growing premium cycling segment in India, Hero Cycles acquired Firefox Bikes, India’s largest premium bicycle brand. Firefox Bikes has an established presence in pan-India through a network of 160 outlets and has been growing at a three-year CAGR of 35% in revenue.
Hero Cycles Ltd, also has acquired a majority stake in Avocet Sports Limited, to mark its entry into the high-value cycle market in Europe as part of its aggressive growth plans in Europe. Avocet is one of the top three distributors of bicycles, e-bikes, bicycle parts and accessories in the UK. Insync Bikes brand was launched by Avocet in November 2018.
The company has also acquired a majority stake in Sri Lanka’s leading bicycle manufacturer, BSH Ventures, further boosting its manufacturing capacity.
Hero’s has found itself a place in the Guinness Book of World Records for being the single largest producer of bicycles.

Group structure

Hero Cycles is part of Hero Motors Company.
The HMC family is made up of organizations such as Hero Cycles Ltd., Avocet Sports, BSH, Firefox, Spur, HGD, Hero Motors, Munjal Hospitality, Munjal Kiriu, ZF Hero and OMA.

Plants

Hero Cycles, Ludhiana, Punjab
Hero Cycles, Ghaziabad, Uttar Pradesh
Hero Cycles, Bihta, Bihar
BSH Ventures Pvt. Ltd., Sri Lanka
ZF HERO Chasis Systems, Pune, Mahrashtra
ZF HERO Chasis Systems, Chennai, Tamil Nadu
Munjal Kiriu, Manesar, Haryana
Munjal Kiriu, Ahmedabad, Gujarat