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| Sunday, 29 December 2002 |
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Business |  |
| News Business Features Editorial
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A smooth ride Hero Cycles, India, which has been present in Sri Lanka for about four decades, is all set to consolidate its position in this market, the company announced at the Sri Lanka Dealers Convention held in Colombo recently. "Sri Lanka was our first export market. Today, its economy is poised for growth and we have decided to concentrate all our efforts and energies to make Sri Lanka our focus market for exports," Vijay Munjal, Managing Director Marketing, Hero Cycles said. Hero has decided to improve the quality of its products. "We have entered a technical collaboration with National Panasonic of Japan. We have made a huge investment on quality techniques and processes and equipment. We have also set up a new mega plant for exports," he added. The company has a strong presence in the standard cycles segment and with the launch of its new international range it plans to consolidate its position in speciality segments like All Terrain, Juvenile and Kids. Nine new models will be added to Hero's current portfolio. Strengthening its distribution network is also part of the plans. While special promotions and multi-media campaigns are on the cards, Hero Zones, retail outlets where customers can choose from a range of products, are also planned for Sri Lanka. Hero started with 630 cycles per year in 1956 and to date has manufactured 58 million cycles. Today, it is a US$1800 million group that has a workforce of 10,000. The group has tie-ups with international companies like Honda, Showa, BMW and Puch. "Hero Cycles enjoys a 50 per cent market share in India. In its drive to expand its market in neighbouring countries, it is considering Sri Lanka as its first step," Munjal said. Hero exports cycles to over 80 countries including Europe and America. It is the only company in Asia with an accredited research and development division.
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