Hero Cycles sold 5.39 lakh bicycles in India in September,2015

Hero Cycles, largest bicycle manufacturer has set another milestone of selling the highest monthly sales achieved by any cycle brand in the country and sold 5.39 units in the month of September. Besides this, the marquee brand of this manufacturer ‘Sprint and Jet’ became the world’s top selling bicycle brands. On an average, Hero cycle sells around 1.5 million units every year and recently appointed, the Bollywood actor Arjun Kapoor, as its brand ambassador.

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Mr Pankaj Munjal, Chairman and Managing Director, Hero Cycles, giving an insight into the successful strategy of their brand said, "Recovering rural and semi-urban demand along with newer customer initiatives has helped Hero Cycles to clinch this mark. Last few months have witnessed our aggressive sales and acquisition strategy and we are hopeful that the next few quarters will continue to bring the good news for the company."

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"We have witnessed growth in both rural as well as urban areas. While mainstream cycle brands like Jet continue to attract significant sales, premium cycle brands such as Sprint have also started contributing a considerable share of sales" said by Mr Raman Awasthi, National Sales Head of Hero Cycles said in a statement.

Recently, the Hero Cycles acquired Firefox bikes in India and Avocet Sports in the UK and entered the premium bicycle segment while expanding its territory by entering the European market.

According to the company, demand for the premium bicycles is continuously increasing in the country at an annual rate of 25 percent and around 2 lac premium bicycles are being sold per year.

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