Friday, September 6, 2013
Hero Cycles Limited, based in Ludhiana Punjab, India, is a manufacturer of bicycles and bicycle related products. Hero Cycles Ltd (HCL), established in 1956, became the largest bicycle manufacturer in the country in 1975. The Hero Group company went on to become the world’s No 1 in 1986.
The four Munjal brothers, namely, Satyanand Munjal, Om Prakash Munjal. Late Dayanand Munjal and Late Raman Kant Munjal , hailed from a small town called Kamalia, now in Pakistan, established the Hero group. The brothers first established a business of bicycle spare parts in the year 1944 in Amritsar. After partition and independence of India, the brothers moved to Ludhiana and started a bicycle unit called Hero Cycles in 1956. From a modest beginning of mere 639 bicycles in the year 1956, Hero Cycles products over 18500 cycles a day today, the highest in global reckoning.
With the 48% share of the Indian market, this volume has catapulted Hero in the ‘Guinness Books of World Records’ in 1986 and edge over global players is being maintained since then. The company has already put over 13.5 crore bicycles on road.
Hero Group Management style has been acclaimed internationally by World Bank and BBC, UK. Hero Group is discussed as a case study at London Business School, UK and INSEAD, France. World Bank has acclaimed Hero Cycles as a role model in vendor development based on a world-wide study. The London Business School, UK, has done a case study on the Group as model of entrepreneurship.
It is indeed “Hero of the World”.
I don't claim the information to be my own. It has been collected from various sources