Hero Cycles Limited, the world's largest manufacturer of bicycles and bicycle related products latterly launched its nine premium bicycles to the pavilion. The urban trail bikes are priced between Rs.40,000 and Rs.1,10,000. The company assumes that accompanying the petrol price that is frequently hiked will give an eye on premium bicycles by youngsters and business class. As these are premium bicycles those cost more than commuter two wheelers, certainly will scribe a trend to riders specially for city driving. It not only saves money but also upgrades a new status to the two wheeler culture.
"Fitness is on everybody's mind, but there is no time for people to work on it. Cycling offers the best fitness options to professionals and families. The market for premium cycles, though small, is exploding in the country and, with our new range, we intend to offer the widest possible options for the customers in this segment," said Pravin Patil, President of Strategic Initiatives of Hero Cycles to ET.
To enrich the presence in the bicycle market, Punjab based manufacturer will organize 800 grant shows across the country which are comprised of 10 metropolitan cities. At present 15 million bicycles are sold and out of which only 2% are premium bicycles. "The company also plans to have exclusive 30 Urban Trail Stores across the country, 10 of them owned by the company itself. Of these 10, three will be Experience Stores, which will encourage consumers to create their own customised bikes" added Mr. Patil.
As the Indian giant is all set to fire, it would be a tight competition between key players in the premium segment such as Firefox, Suncross and LA
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