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Hero Cycles to Grow 60% by 2022 and UK Will Help It

Sreeram said the UK operations would not only go a long way to help the company grow at a robust pace but would also transform the way it caters to the Indian market.

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Sreeram said it was natural for Hero Cycles to
Hero Cycle to grow by expanding in uk, wikimedia commons
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As India’s iconic Hero Cycles makes inroads into the UK and European markets with the launch of 75 bikes under its new “Insync” brand, the worlds biggest bicycle manufacturer aims to grow by over 60 per cent over the next four years, says Sreeram Venkateswaran, head of the companys UK operations.

He said that from a $800-850 million company (across all its businesses, including automotive), it is poised to become $1.3 billion to $1.4 billion company by 2022, with Europe and bicycles being an “extremely important component” of that growth story.

Sreeram told IANS in an interview that with the launch of the Insync brand, the company not only aims to penetrate the mid-premium segment of the European market but also transform the way it caters to the Indian market.

In 2015, Hero Cycles had acquired the UK’s Avocet Sports to expand its footprint into Europe and Sreeram was appointed Avocet CEO. Last year, the company opened a global design centre in Manchester to design bicycles of global standards. The 75 new cycles are the first of the lot designed at the $2.7 million Hero Cycles Global Design Centre.

Sreeram said it was natural for Hero Cycles to “get out of the well called India” if it had to transform itself into a strong global player from “value perspective” from being one of the largest manufacturers from a “volume perspective”.

The 75 new cycles are the first of the lot designed at the $2.7 million Hero Cycles Global Design Centre.
Cycling, Representational image- Pexels

“Just from the figures perspective, India does about 17 million bicycles a year and the total value is $1 billion. UK does about 2.75 million bicycles a year and the business is worth about $2 billion to $2.1 billion. Europe does about 21 million bicycles and the business is about $12 billion,” he said.

At the same time, the company’s Europe and UK plans are in sync with its growth plans in India, Sreeram said.

With India’s medium- to high-end cycling segment growing at about 25-27 per cent over the last one-and-a-half years, Hero Cycles plans to optimise the Insync brand models for the Indian market and then take them back home.

“Also, having the ownership of Firefox in India, which is clearly the market leader in the mid to high-end bikes, we are well poised to garner a disproportionate share of the growth as the market starts to grow,” he said.

Sreeram said the UK operations would not only go a long way to help the company grow at a robust pace but would also transform the way it caters to the Indian market.

“UK happens to be in a very nice cusp of market development. It’s about three to four years behind mainland Europe and it’s about three to four or five ahead of the Indian development cycle.

As Indias iconic Hero Cycles makes inroads into the UK and European markets with the launch of 75 bikes under its new "Insync" brand
Hero Cycles to expand in UK, pexels

“What it does from a business perspective is that while usually a bike range has shelf life of one year, a facility in Manchester gives me an opportunity to extend that shelf life to three to four years,” Sreeram said.

“So any investment I make into design and development of bicycles here in this facility has actually four times the value that can be extracted compared to any other company which is solely based out of Europe or the UK and selling only in this market. That’s a huge advantage,” Sreeram said.

Also Read: Indian Art Forms in International Festivals Through Sands of Culture Series

The facility in the UK and designing bikes for the European market make it necessary for the company to also keep updating the design and manufacturing team back home in India to bring it at par with what is required by a European customer, he added.

“So they start looking at quality from not what a guy in Latur would want but as what a guy in Luxemburg will want. That’s the difference we have to create even from a quality perspective.

“These are the kinds of things that are slowly getting imbibed in the entire manufacturing chain which makes us a much more robust and stronger company,” he added. (IANS)

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12-year-old Indian-Origin Boy Rahul Wins UK Child Genius Show

Rahul clinched the title by answering a question on 19th Century artists William Holman Hunt and John Everett Millais

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Child Genius show
Indian Origin boy wins Child Genius show. Pixabay
  • A 12-year-old Indian-origin boy from north London has won the Child Genius show
  • He clinched the title by answering a question on 19th Century artists William Holman Hunt and John Everett Millais
  • Rahul’s chosen subject was Edward Jenner’s medical innovation and methodology in 18th Century England

London, Aug 20, 2017: An 12-year-old Indian-origin boy from north London has won the Child Genius show broadcast by UK’s Channel 4, the media reported on Sunday.

Rahul, who lives in Barnet, beat his nine-year-old opponent, Ronan, 10-4 in the programme’s finale on Saturday night, the BBC reported.

Rahul, who has an IQ high enough to be a member of Mensa, the world’s largest and oldest high IQ society, fought off competition from 19 children aged eight to 12 in the week-long show.

He clinched the title by answering a question on 19th Century artists William Holman Hunt and John Everett Millais.

In the final, Rahul’s chosen subject was Edward Jenner’s medical innovation and methodology in 18th Century England. He and Ronan both scored 15 in their specialist fields.

Rahul said he was “extremely delighted to win” and congratulated Ronan and the other contestants, the BBC reported.

He had impressed audiences and quizmaster Richard Osman in the first round on Monday by answering every question he was asked correctly.

Rahul’s father, Minesh is an IT manager and mother Komal, a pharmacist. They entered him into the competition and called his success a “phenomenal achievement”. (IANS)