Hero Cycles

{{Infobox company

| name = Hero Cycles

| logo = Hero Cycles Limited Logo.svg

| logo_size = 150

| logo_upright = 0.9

| logo_alt = Hero Cycles limited logo

| type = Private company

| foundation = {{Start date and age|1956||}}

| founder = {{Unbulleted_list|Brijmohan Lall Munjal|Om Prakash Munjal|Satyanand Munjal|Dayanand Munjal}}

| location = Ludhiana, Punjab, India

| key_people = Pankaj M Munjal{{cite news|url=http://www.thehindu.com/business/Industry/hero-motors-group-elevates-pankaj-munjal-as-cmd/article7443657.ece |title=Hero Motors Group elevates Pankaj Munjal as CMD | publisher=www.thehindu.com |date= 20 July 2015|access-date=20 July 2015}}{{cite news|url=http://www.business-standard.com/article/companies/the-cycle-king-112030300033_1.html |title=The cycle king

|publisher=business-standard.com |date= 21 Jan 2013}}

| num_employees = 7610

| parent = Hero Motors Company

{{cite news|url=https://timesofindia.indiatimes.com/city/ludhiana/hero-cycles-gets-new-identity-hero-motors/articleshow/58273472.cms |title=Hero Cycles gets new identity – Hero Motors |publisher=timesofindia.indiatimes.com |date= 20 Apr 2017|access-date=20 Apr 2017}}

| industry = Bicycles

| products = Bicycles

| revenue = {{INRConvert|26|b}} 2017–2018{{cite news|url=http://epaper.bhaskar.com/ludhiana/ludhiana-bhaskar/84/27122017/cph/3 |title=HMC revenue reaches to INR 2600 Cr |publisher=epaper.bhaskar.com |date= 27 Dec 2017|access-date=27 Dec 2017}}{{dead link|date=May 2025|bot=medic}}{{cbignore|bot=medic}}{{cite news|url=http://dainiksaveratimes.epapr.in/1482019/Chandigarh-Main/Chandigarh#page/9/2 |title=HMC revenue expected to reache INR 2600 Cr |publisher=dainiksaveratimes.epapr.in |date= 27 Dec 2017|access-date=27 Dec 2017}}

| assets = {{INRConvert|76.40|b}}

| assets_year = 2017–2018

| homepage = [http://www.herocycles.com/ www.herocycles.com]

}}

Hero Cycles Limited, based in Ludhiana, Punjab, is an Indian company that manufactures bicycles and bicycle related products.{{cite web|url=http://www.herocycles.com |title=Hero Cycles Ltd |publisher=Herocycles.com |access-date=10 August 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110807115247/http://www.herocycles.com/milestones.php |archive-date=7 August 2011 |df=dmy-all }} Pankaj M Munjal{{cite news|url=https://auto.economictimes.indiatimes.com/news/industry/hero-cycles-other-group-companies-elevate-pankaj-munjal-as-new-chairman-md/48142351 |title=Hero Cycles & other group companies elevate Pankaj Munjal as new Chairman & MD |publisher=auto.economictimes.indiatimes.com |date= 20 July 2015|access-date=20 July 2015}} is the chairman and managing director of Hero Cycles.

History

File:Hero Cycles side.jpg ]]

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.{{cite web|url=http://www.forbesindia.com/printcontent/40901|title=Forbes India Magazine – Print|website=www.forbesindia.com}}{{Cite web|date=2018-04-25|title=India's Hero Cycles on the cusp of becoming world's largest bicycle manufacturer|url=https://cyclingindustry.news/indias-hero-cycles-on-the-cusp-of-becoming-worlds-largest-bicycle-manufacturer/|access-date=2021-01-15|website=Cycling Industry News|language=en-GB}} Hero Cycles Ltd. is part of Hero Motors Company.{{cite news|url= https://timesofindia.indiatimes.com/city/ludhiana/hero-cycles-gets-new-identity-hero-motors/articleshow/58273472.cms |title=Hero Cycles gets new identity – Hero Motors |publisher=timesofindia.indiatimes.com |date= 20 Apr 2017|access-date=20 Apr 2017}} In 2016 Hero cycles exported to over 70 countries world-wide.{{cite news|url=http://www.bike-eu.com/sales-trends/nieuws/2016/1/hero-cycles-breaks-record-in-sales-on-home-market-10125400 |title=Hero Cycles Breaks Record in Sales on Home Market |publisher=bike-eu.com |date= 7 Jan 2016}}{{cite news|url=https://auto.economictimes.indiatimes.com/news/auto-components/hero-motors-to-supply-transmissions-for-electric-truck-in-uk/61526690 |title=Hero Motors to supply transmissions for electric truck in UK |publisher=auto.economictimes.indiatimes.com |date= 6 Nov 2017}} 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.{{cite news|url=http://indiatoday.intoday.in/auto/story/hero-launches-17-new-hero-sprint-pro-cycles-priced-up-to-rs-15-000/1/747531.html |title=Hero launches 17 new Hero Sprint Pro cycles; priced up to Rs 15,000 |publisher=indiatoday.intoday.in |date= 24 Aug 2016}}{{cite web|url=https://auto.economictimes.indiatimes.com/news/industry/hero-cycles-to-unveil-400-sprint-stores/60870181|title=Hero Cycles to unveil 400 Sprint stores|date=28 Sep 2017|publisher=auto.economictimes.indiatimes.com}}{{cite news|url=http://businesswireindia.com/news/news-details/hero-cycles-launches-new-advertising-campaign-choose-different-with-arjun-kapoor-hero-sprint-bike-rxr-cycles/46038 |title=Hero Cycles Launches New Advertising Campaign "Choose Different" with Arjun Kapoor for 'Hero Sprint Bike RXR' Cycles |publisher=businesswireindia.com |date= 5 Nov 2015}}{{cite news|url=https://www.indiablooms.com/showbiz-details/B/2782/hero-cycles-launches-new-advertising-campaign-with-arjun-kapoor-for-hero-sprint-bike-rxr-cycles.html |title=Hero Cycles launches new advertising campaign with Arjun Kapoor for 'Hero Sprint bike RXR' Cycles |publisher=indiablooms.com |date= 3 Nov 2015}}{{cite web|url=http://www.thehindu.com/business/hero-cycles-acquires-firefox-bikes-in-allcash-transaction/article7662237.ece|title=Hero Cycles acquires Firefox Bikes in all-cash transaction|date=17 Sep 2015|publisher=thehindu.com}} Hero Cycles bought the Firefox bicycle brand in 2015.{{cite news|url=http://economictimes.indiatimes.com/news/companies-a-z/corporate-trends/hero-cycles-acquires-firefox-bikes-in-all-cash-transaction/articleshow/48998853.cms |title=Hero Cycles acquires Firefox Bikes in all-cash transaction |publisher=economictimes.indiatimes.com |date= 18 Sep 2015}}{{cite news|url=http://www.tribuneindia.com/news/business/eyeing-premium-segment-hero-cycles-acquires-firefox-bikes/134438.html |title=Eyeing premium segment, Hero Cycles acquires Firefox Bikes |publisher=tribuneindia.com |date= 18 Sep 2015}}{{cite web|url=http://www.livemint.com/Companies/v2I8jh8Tv236qS4dDFi06K/Hero-Cycles-acquires-Firefox-Bikes-in-allcash-transaction.html|title=Hero Cycles buys Firefox Bikes for Rs150 crore|first=Amrit|last=Raj|date=17 September 2015}}{{cite web|url=http://www.thehindubusinessline.com/companies/hero-cycles-buys-firefox-bikes-in-allcash-deal/article7662272.ece|title=Hero Cycles buys Firefox Bikes in all-cash deal|date=17 September 2015}}

In 2015, Hero Cycles Lt. bought a majority stake in Avocet Sports Ltd., a UK distributor of bicycles, e-bikes, bicycle parts, and accessories.{{cite news|url=http://economictimes.indiatimes.com/industry/auto/news/two-wheelers/motorcycles/hero-cycles-acquires-majority-stake-in-uks-avocet-sports/articleshow/48454108.cms|title=Hero Cycles acquires majority stake in UK's Avocet Sports|date=13 August 2015|newspaper=The Economic Times}}{{cite web|url=http://www.thehindubusinessline.com/companies/hero-cycles-picks-up-majority-stake-in-uk-firm-avocet-sports/article7530114.ece|title=For Europe ride, Hero Cycles acquires UK company Avocet Sports|first=Navadha|last=Pandey|date=12 August 2015}}{{Cite web|date=2016-06-09|title=Hero Cycles Q&A|url=https://www.bikebiz.com/hero-cycles-qa/|access-date=2021-01-30|website=BikeBiz|language=en-GB}} Insync Bikes brand was launched by Avocet in November 2018.{{Cite news|url=https://cyclingindustry.news/hero-cycles-launches-insync-house-brand-touted-as-an-industry-disruptor/|title=Hero Cycles launches Insync house brand touted as an "industry disruptor"|date=2018-05-03|work=Cycling Industry News|access-date=2018-11-28|language=en-GB}} In 2019, Hero bought a majority stake in German e-bike manufacturer HNF-Nicolai.{{Cite web|last=|first=|date=2020-01-09|title=Hero Cycles Acquires Strategic Stake HNF-Nicolai|url=https://www.bike-eu.com/home/nieuws/2020/01/hero-cycles-acquires-strategic-stake-hnf-nicolai-10137170|access-date=2021-02-10|website=Bike Europe}}{{Cite web|date=2020-01-09|title=Hero Cycles acquires 48% stake in Germany's HNF Nicolai|url=https://cyclingindustry.news/hero-cycles-acquires-48-stake-in-germanys-hnf-nicolai/|access-date=2021-01-30|website=Cycling Industry News|language=en-GB}}{{Cite web|title=Baker Tilly advises Hero Cycles on entry into German e-bike market|url=https://www.bakertilly.de/en/news/detail/baker-tilly-advises-hero-cycles-on-entry-into-german-e-bike-market-by-investment-in-hnf-group.html|access-date=2021-01-30|website=www.bakertilly.de|language=en}} In 2016, Hero bought 60% of Sri Lankan bicycle manufacturer BSH Ventures.{{cite web|url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/hero-cycles-acquires-60-stake-in-sri-lankas-bsh-ventures/articleshow/51527027.cms|title=Hero Cycles acquires 60% stake in Sri Lanka's BSH Ventures|date=23 March 2016|publisher=economictimes.indiatimes.com}}{{cite web|url=http://indianexpress.com/article/business/business-others/hero-acquires-firefox-bikes-eyes-premium-cycles-market/|title=Hero acquires Firefox Bikes, eyes premium cycles market|date=18 September 2015}}{{cite web|url=http://www.financialexpress.com/industry/hero-cycles-acquires-firefox-bikes-in-all-cash-transaction/137370/|title=Hero Cycles acquires Firefox Bikes in all-cash transaction|date=17 September 2015|publisher=financialexpress.com}}{{cite news|url=http://www.tribuneindia.com/news/business/hero-cycles-acquires-stake-in-uk-s-avocet-sports/118996.html |title=Hero Cycles acquires stake in UK's Avocet Sports |publisher=tribuneindia.com |date= 13 Aug 2015}}

In 1986, the Guinness World Records called Hero Cycles the largest bicycle manufacturer in the world.{{cite news|url=http://indiatoday.intoday.in/story/hero-cycles-makes-guinness-records-as-largest-bicycle-manufacturer-in-the-world/1/337619.html |title=Riding a new high |publisher=indiatoday.intoday.in |date= 15 Oct 1987}} for being the single largest producer of bicycles.

Group structure

Hero Cycles is part of Hero Motors Company (HMC).{{cite news|url=http://www.menafn.com/1096286387/about.html |title=Hero Cycles Led HMC Records Highest Revenue |publisher=menafn.com |date= 29 Dec 2017}}

The HMC family{{cite news|url=http://www.thehindu.com/business/Industry/hero-motors-group-elevates-pankaj-munjal-as-cmd/article7443657.ece |title=Hero Motors Group elevates Pankaj Munjal as CMD |publisher=thehindu.com |date= 20 July 2015}}{{cite news|url=https://www.entrepreneur.com/article/251261 |title=Hero Group: How embarrassment led to the creation of world's largest bicycle empire |publisher=entrepreneur.com |date= 1 Oct 2015}} is made up of organizations such as Hero Cycles Ltd., Avocet Sports (UK),{{cite news|url=http://www.thehindubusinessline.com/companies/hero-cycles-plans-to-set-up-global-design-centre-in-uk/article9374633.ece |title=Hero Cycles plans to set up global design centre in UK |publisher=thehindubusinessline.com |date= 22 Nov 2016}} BSH (Sri Lanka), Firefox Bikes (not to be confused with the browser by Mozilla),{{cite news|url=http://www.livemint.com/Companies/v2I8jh8Tv236qS4dDFi06K/Hero-Cycles-acquires-Firefox-Bikes-in-allcash-transaction.html |title=Hero Cycles buys Firefox Bikes for Rs150 crore |publisher=livemint.com |date= 18 Sep 2015}} Spur,{{cite web|url=http://www.bikebiz.com/news/read/hero-cycles-q-a/019646|title=Hero Cycles Q&A|date=9 June 2016|publisher=bikebiz.com}} HGD,{{cite news|url=http://www.bqlive.co.uk/innovation/2017/01/30/news/global-bike-manufacturer-unveils-2m-manchester-design-centre-8592/ |title=GLOBAL BIKE MANUFACTURER UNVEILS £2M MANCHESTER DESIGN CENTRE |publisher=bqlive.co.uk |date= 30 Jan 2017}} Hero Motors,{{cite news|url=https://timesofindia.indiatimes.com/city/ludhiana/Hero-Cycle-Groups-transmission-division-to-supply-gears-to-Ducati/articleshow/54853993.cms |title=Hero Cycle Group's transmission division to supply gears to Ducati |publisher=timesofindia.indiatimes.com |date= 14 Oct 2016}} Munjal Hospitality,{{cite news|url=http://www.business-standard.com/article/companies/hero-s-hospitality-foray-begins-with-marriott-deal-112051700020_1.html |title=Hero's hospitality foray begins with Marriott deal |publisher=business-standard.com |date= 21 Jan 2013}}{{cite news|url=http://www.dnaindia.com/money/report-hero-group-putting-up-a-rs650-crore-hotel-in-gurgaon-1583725 |title=Hero Group putting up a Rs650 crore hotel in Gurgaon |publisher=dnaindia.com |date= 6 Sep 2011}} Munjal Kiriu,{{cite news|url=http://www.business-standard.com/article/companies/hero-motors-japanese-firm-commission-new-auto-components-plant-in-gujarat-117092000979_1.html |title=Munjal Kiriu Industries commissions new auto component plant in Gujarat |publisher=business-standard.com |date= 20 Sep 2017}} ZF Hero{{cite news|url=http://www.indiancarsbikes.in/auto-news/zf-hero-chassis-system-inaugurates-new-plant-129793 |title=ZF Hero Chassis System inaugurates new plant |publisher=indiancarsbikes.in |date= 26 Sep 2015}} and OMA.{{cite news|url=http://www.business-standard.com/article/press-releases/hero-motors-launches-auma-enters-restaurant-business-111110300109_1.html |title=Hero Motors launches AUMA, enters restaurant business |publisher=business-standard.com |date= 21 Jan 2013}}

Plants

Hero Cycles, Ludhiana, Punjab{{cite news|url=http://www.thehindubusinessline.com/companies/hero-cycles-eyes-setting-up-rs-400-cr-project/article9658676.ece |title=Hero Cycles eyes setting up Rs. 400 cr project |publisher=thehindubusinessline.com |date= 22 Apr 2017}}

Hero Cycles, Ghaziabad, Uttar Pradesh{{cite news|url=http://www.thehindubusinessline.com/companies/hero-cycles-opens-aluminium-cycle-unit-at-ghaziabad/article5015867.ece |title=Hero Cycles opens aluminium cycle unit at Ghaziabad |publisher=thehindubusinessline.com |date= 12 Aug 2013}}

Hero Cycles, Bihta, Bihar{{cite news|url=https://www.telegraphindia.com/1140827/jsp/frontpage/story_18765296.jsp |archive-url=https://web.archive.org/web/20140829154151/http://www.telegraphindia.com/1140827/jsp/frontpage/story_18765296.jsp |url-status=dead |archive-date=29 August 2014 |title=Investment pedals in with Hero |publisher=telegraphindia.com |date= 27 Aug 2014}}

BSH Ventures Pvt. Ltd., Sri Lanka{{cite news|url=http://www.businesstoday.in/opinion/perspective/hero-cycles-lankan-acquisition-to-serve-as-gateway-for-exports-to-europe-and-high-end-bicycles-to-india/story/232157.html |title=Hero Cycles' Lankan acquisition to serve as gateway for exports to Europe & high-end bicycles to India |publisher=businesstoday.in |date= 4 May 2016}}

ZF HERO Chasis Systems, Pune, Maharashtra{{cite news|url=http://www.autocarpro.in/features/zf-goes-increase-localisation-22048 |title=ZF goes all out to increase localisation |publisher=autocarpro.in |date= 6 Oct 2016}}{{cite news|url=http://machinist.in/index.php?option=com_content&task=view&id=2784 |title=ZF sets up Plant in Pune, India for heavy truck transmissions |publisher=machinist.in |date= 27 Oct 2010}}

ZF HERO Chasis Systems, Chennai, Tamil Nadu{{cite news|url=https://economictimes.indiatimes.com/zf-hero-starts-assembling-chassis-for-bmw/articleshow/49185170.cms |title=ZF Hero starts assembling chassis for BMW |publisher=economictimes.indiatimes.com |date= 1 Oct 2015}}

Munjal Kiriu, Manesar, Haryana{{cite news|url=http://www.thehindu.com/business/companies/Hero-Motors-sells-17.6-stake-in-Munjal-Kiriu-Industries/article15444255.ece |title=Hero Motors sells 17.6 % stake in Munjal Kiriu Industries |publisher=thehindu.com |date= 14 Feb 2011}}

Munjal Kiriu, Ahmedabad, Gujarat{{cite news|url=http://www.thehansindia.com/posts/index/Business/2017-09-21/Hero-Motors-invests-Rs150Cr-installs-new-manufacturing-unit-under-joint-venture-with-Kiriu-Japan/328088 |title=Hero Motors invests Rs.150Cr, installs new manufacturing unit under joint venture with Kiriu, Japan |publisher=thehansindia.com |date= 21 Sep 2017}}{{cite news|url=http://www.thehindubusinessline.com/companies/heromotorsled-casting-venture-commissions-150crore-plant-in-gujarat/article9866439.ece |title=HeroMotors-led casting venture commissions ₹150-crore plant in Gujarat |publisher=thehindubusinessline.com |date= 20 Sep 2017}}