Finally July 29, 2011 marked the beginning of a new era in the world of motorcycles in India when the legendary Hero Honda get itself acquainted itself with new identity as Hero MotoCorp after getting final approval from Registrar of Companies to change its name. Since the termination of joint venture between Hero Group and Honda group both the companies were in process of establishing their independent flagships. Launched almost 25 years back under the joint venture Hero Honda Bikes brought a new revolution in the Indian bike market by breaking the dominance of erstwhile bikes like Yezdi and Rajdoot and dominated the Indian market successfully for a long period.
Though the joint venture between both the groups was supposed to get mature in 2014 but due to some internal conflicts between the groups arising as the result of Honda group trying to establish its independent identity in Indian market, both the groups decided to terminate contract before the maturity period by Hero group taking over the 26% of Honda’s stake in joint venture. As the part of joint venture Hera groups was technically dependent on Honda group but now after the separation both the companies will now be contender to each other standing on the same floor.
Taking a step ahead of establishing its own identity Hero group has already hired the services of famous brand innovating specialist Wolff Olnis, to design the new logo of the company and also to work on its visibility on products. There are rumours that Hero group is planning to launch its new brand in London on August 9, 2011.
Overwhelmed with revitalizing progress Mr. Pawan Munjal, Managing Director and CEO Hero Group said that getting the new name for group is the first step towards establishing company’s dominance in two wheeler industry. He further added that it will mark the start of new period in terms of innovations in technology, product development and customer satisfaction. It will help company to expand its boundaries to global market.