HERO ECO: Launches ‘Kross’ Brand of bicycles for domestic market
Ludhiana, November 23, 2012 : HERO ECO, one of India’s leading business conglomerates with diversified business interests in Electric Vehicles, Bicycles, Exports, Medical Equipment, Real Estate and Fitness / Sports Equipment, today launched ‘Kross’, the all new technologically advanced bicycle brand in India conforming to international standards and quality.
The new brand, ‘Kross’ has been launched keeping in mind the rapidly evolving customer base with global aspiration and knowledge.
Today at the launch event, the initial range of 14 bicycle models under the Kross brand were unveiled by Vijay Munjal, Group Chairman, HERO ECO.
Krossbrand of bicycles has been inspired from the European products that have been manufactured and exported for decades by HERO ECO’S wholly owned subsidiary HERO ECOTECH LTD. The range includes bicycles suiting to choices of all customer segments and age groups.
Reiterating the commitment, Vijay Munjal, said, “HERO was founded by my father Late Dayanand Munjal in 1956 with a vision to produce world class products and be the customer’s choice in every product category we venture into. Today, I feel proud to launch Hero Eco’s new brand ‘Kross’ in the emerging domestic market. It gives us a chance to serve the now evolved and educated Indian consumer with world class products and I am confident that with the quality and services that we shall offer to our consumers, Kross shall be able to make a mark of itself in near future.”
Speaking on the occasionNaveen Munjal, Group Managing Director, HERO ECO said “The launch of Kross bicycles in India has been inspired from the international quality bicycles which we have been manufacturing and exporting for years, globally”. HERO ECO Group’s well-orchestrated differentiated business strategy has helped us to develop products and services that address need of every age in all segments and with Kross bicycles, we aim to do the same, he said. He further added “With Kross bicycles, we are targeting a market share of around 7% over the next 5 years period”.
Speaking at the launch Gaurav Munjal, Group Executive Director, HERO ECO said - “We are one of the largest exporters of bicycles globally, hence we have kept in mind to introduce KROSS bicycles with the same product quality standards and features. The state-of-the-art manufacturing facility at Ludhiana, HERO ECOTECH LTD., is by far the most modern one conforming to the best global manufacturing practices”. He further added, “We plan to invest over 100 crores in the next 5 years in putting up new integrated facilities for bicycle manufacturing”. Currently Kross bicycles will be available in 14 models across Kids, Teenage and Youth segment and further 25-30 more models will be added to the product portfolio in the next 2 years time, he said.
The Kross range of bicycles will be available across 150 dealers in Punjab, Chandigarh, J&K, Haryana, UP, Uttaranchal, Rajasthan and Delhi, to start with. HERO ECO aims to further strengthen the KROSS distribution network by adding 150-200 dealers annually.
Krossbrings forth exciting range of new features for its customers such as:
• Alloy Rims –Lightweight alloy rims bring the same strength with almost one-
Third the weight as compared to steel rims, for effortless riding
• Nylon Tyres –These tyres have 4 times more life than normal tyres
• Butyl Tubes - for better air retention
• Automotive Grade Paint
• Hardware of high quality auto steel to avoid loosening
• 7 Year Warranty on Frames and Forks
About HERO ECO:
HERO ECO Group is a multi-company, multi-product and a multi-location enterprisewith business interests in products and services such as: Electric Vehicles, Exports, Bicycles, Medical Equipment, Real Estate and Fitness /Sports Equipment. The prominent Group companies are as under:
- HERO ECO LTD. (UK & Germany) and HERO ECO INC., (USA) – with one of the largest range of E2W post the acquisition of the Electric Two-Wheeler division of erstwhile Ultra Motor, with HQ in London and Warehouse, Service Centers and Regional Offices in UK, USA, Germany and China. We also have our Design and R&D centers in Germany and India.
- HERO ECOTECH Ltd– is the manufacturing arm of the HERO ECO group. It’s manufacturing focus is on products like Bicycles, Medical & Health Equipment and Sports goods.
- HERO EXPORTS– an International Trading Group company which exports Automotive Components, Bicycles, Electric Vehicles, Medical Equipment, Metals, Consumer Goods and Engineering Goods. Has operations in India, China and UAE and market’s its products to over 80 countries worldwide.
- MEDIVA HEALTHCARE –is the group’s foray into the Indian Medical Equipment Industry with products ranging from wheel chairs, walkers, crutches, canes, hospital beds, etc.
- HERO ELECTRIC VEHICLES PVT. LTD– A pioneer and Market leader in the Indian E2W industry with its state-art-manufacturing facility at Ludhiana and Corporate office at Delhi