Hero Cycles
Indian bicycle company
From Wikipedia, the free encyclopedia
Hero Cycles Limited, based in Ludhiana, Punjab, is an Indian company that manufactures bicycles and bicycle related products.[6] Pankaj M Munjal[7] is the chairman and managing director of Hero Cycles.
- Brijmohan Lall Munjal
- Om Prakash Munjal
- Satyanand Munjal
- Dayanand Munjal
| Company 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$310 million) 2017–2018[3][4] |
| Total assets | ₹76.40 billion (US$900 million) [2] (2017–2018) |
Number of employees | 7610 |
| Parent | Hero Motors Company [5] |
| Website | www.herocycles.com |
History

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.[8][9] Hero Cycles Ltd. is part of Hero Motors Company.[10] In 2016 Hero cycles exported to over 70 countries world-wide.[11][12] 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.[13][14][15][16][17] Hero Cycles bought the Firefox bicycle brand in 2015.[18][19][20][21]
In 2015, Hero Cycles Lt. bought a majority stake in Avocet Sports Ltd., a UK distributor of bicycles, e-bikes, bicycle parts, and accessories.[22][23][24] Insync Bikes brand was launched by Avocet in November 2018.[25] In 2019, Hero bought a majority stake in German e-bike manufacturer HNF-Nicolai.[26][27][28] In 2016, Hero bought 60% of Sri Lankan bicycle manufacturer BSH Ventures.[29][30][31][32]
In 1986, the Guinness World Records called Hero Cycles the largest bicycle manufacturer in the world.[33] for being the single largest producer of bicycles.
Group structure
Hero Cycles is part of Hero Motors Company (HMC).[34]
The HMC family[35][36] is made up of organizations such as Hero Cycles Ltd., Avocet Sports (UK),[37] BSH (Sri Lanka), Firefox Bikes (not to be confused with the browser by Mozilla),[38] Spur,[39] HGD,[40] Hero Motors,[41] Munjal Hospitality,[42][43] Munjal Kiriu,[44] ZF Hero[45] and OMA.[46]
Plants
- Hero Cycles, Ghaziabad, Uttar Pradesh[48]
- ZF HERO Chasis Systems, Pune, Maharashtra[51][52]
- ZF HERO Chasis Systems, Chennai, Tamil Nadu[53]