The company-owned retail outlets are expected to boost sales and penetrate the niche premium bicycle segment
Hero Cycles (Urban Train) President Pravin Patil said it will open 30 company-owned stores across 25 cities within one year. Patil made the announcement at the inauguration of the first company-owned store housing the Hero Urban Trail premium brand of cycles in New Delhi. As of now, 150 out of its total 2,200 strong dealer network sell the Urban Trail range of cycles across 35 cities.
The Urban Trail is the first premium cycle launched by Hero with retail prices between Rs 10,000 and Rs 43,000. The world’s largest cycle company wants to penetrate the premium segment of cycles and feels these dealerships will help boost sales and penetrate this niche segment. Also Read: Firefox launches Gary Fischer range of cycles
Speaking to PTI on the occasion, Patil said, “The market size of these premium bicycles in India is estimated at 2 lakh units per annum. Realising the importance of the market segment, we are doing our best to connect well with our customers. This step was taken with a lone objective of penetrating deep into the market.
Hero Cycles Managing Director Pankaj Munjal said, “These COCO showrooms would be more than mere showrooms where people would come to buy cycles.”