Hero Cycles opens flagship retail store HeroOne in Delhi!

With a motive to revolutionize the face of cycle retail in India, the world’s leading cycle manufacturer Hero Cycles Ltd. today launched HeroOne, its flagship retail store in the capital.

The 1200 square feet shop-in-shop dedicated retail store that opened in the Yusuf Sarai market area of South Delhi will employ a well-trained staff to cater to the clientele and galvanize the way bicycles are sold in India.

The store was inaugurated today by Mr. Pankaj Munjal , Co- Chairman Hero Cycles Ltd., in the presence of Mr. S.K. Rai, M D Works, Mr. G D Kapoor, Director Marketing and Sales, and Mr. Ankur Thakur, Vice President, Marketing.

Also present on the occasion were Mr. Gaurav Sachdeva, G M, Retail, Mr. Gaurav Matta, Manager, Marketing & Retail.  Last year, Urban Trail, the premium brand in the Hero Cycles portfolio, launched its first company-owned store in the capital.

While the Urban Trail store is aimed exclusively at the premium market category, HeroOne aims to offer products for a wider segment of the population.

In recent years, cycling has also picked up as a recreational activity in adults as well as in fitness enthusiasts who resort to cycling to keep up their fitness levels. With an aim to cater to such a clientele, HeroOne will also be equipped with a well-trained staff to advise buyers on choosing the product for their fitness needs.

Over the next four to five years, the cycle major plans to open multiple such franchise stores across different cities in the country – both Tier I and Tier II cities.

The company that traditionally sells its products through dealers and mutli-brand retail outlets, is making a conscious effort to go closer to the consumers by expanding its exclusive franchise dealer network.

“By launching our own retail franchises, we are trying to change the face of cycle retail in India and bring it at par with other lifestyle products. Going forward, we plan to come up with multiple such stores in different cities of the country,” said Mr. Munjal.

“The idea of setting up a store in such an area (Yusuf Sarai) is to go close to the consumer and offer the product to consumers from different walks of life,” he said
.
The company is planning more stores in similar catchment areas across the country. In fact, over the end of FY 2014, Hero Cycles plans to open up to 200 similar franchise stores.
The stores will be set up in both Metropolitan cities as well as smaller cities and will cater to a wide range of target audience.

“In urban areas, a majority of cycles are generally purchased for kids. Besides, there is also the market of people who look at bicycles as a recreational product. However, traditionally cycles are still sold in the next door shops. The retail store concept has not actually caught up in the cycle segment in India,” said Mr Thakur.

This is precisely what the company wants to change by transforming the way cycles are sold in India..