India’s largest bicycle manufacturer Hero Cycles has entered into a partnership with Snapdeal, the online marketplace, under which the e-commerce portal will exclusively launch a limited edition of bikes endorsed by Hero Cycles’ brand ambassador Arjun Kapoor.
Under this limited edition, 2000 quantity of bikes will be produced by Hero Cycles. The entire range of bikes will be launch on Snapdeal, in price range of Rs 7,075 to Rs 13,199.
“Today, online platforms are one of the most popular modes of buying for the youth of our country, and this is a product that is targeted for the fitness conscious youth. We are happy to partner with Snapdeal to sell this limited edition range and we are sure through this platform, it will have a wide reach across our target group. We are equally delighted to have popular Bollywood star Arjun Kapoor on board as the ambassador for our fitness products. We are sure his popularity among the young generation will help us develop a deeper connect with them,” said Pankaj Munjal, chairman and managing director of Hero Cycles.
Hero Cycles posted a turnover of around Rs 3000 crores during the financial year 2014-15 with a production of around 5.5 million cycles.
The company has announced its entry in the European market and acquisition of Firefox in India and Avocet Sports in UK. Recently the company has also acquired a majority stake in Sri Lanka’s leading bicycle manufacturer BSH Ventures, further boosting its manufacturing capacity.
As a part of this partnership, Snapdeal will launch two models of bicycles.
Tony Navin, senior vice-president, partnerships and strategic initiatives at Snapdeal, said “We are excited to partner with the market leader- Hero Cycles to bring their new attractive range online. We are confident that this new assortment along with Snapdeal’s reliable and frictionless delivery experience will be huge hit among our customers.”
Hero Cycles has a manufacturing capacity of 7.5 million bicycles per year, with its units in Ludhiana (Punjab), Bihta (Bihar) and Ghaziabad (UP). It has a highly integrated plant in Ludhiana which produces 19,000 bicycles every day.
BW Reporters
Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
