Hero Cycles forays into high-end bicycles
Cycle major, Hero Cycles Monday announced their foray into high-end bicycles with the launch of their brand ‘Urban Trail’, unveiling the ‘Red Dot’, the first product of the series Monday.
“At over 45 percent, Hero Cycles has the largest market share in India. With the changing dynamics of social-economic scenario in India, the future clearly lies in the premium and luxury segment. With the launch of Urban Trail, we want to achieve the leadership position in premium and luxury segments,” said co-CMD Pankaj Munjal.
Red Dot’s body is made of carbon fibre, the same material which is used in F1 race cars and aircrafts. This makes it a strong framed bicycle with a rust free body and yet very light to ride. The weight of the bicycle is approximately 12.9 kg.
It is priced at Rs.43,000. The company plans to introduce several other luxury products costing up to Rs.3.5 lakh under the Urban Trail brand.
Established in 1944, Hero Cycles is among the oldest entities of the Indian bicycle market. From a modest beginning of mere 639 bicycles in 1956, Hero Cycles now produces over 18,500 cycles a day and has an annual turnover of Rs.1,700 crore.
