World's largest two wheeler manufacturer by volume sales, Hero MotoCorp (HMCL) is gearing up to launch all its models under the 'Hero' brand name. It has been only a year since the company has created its unique brand equity, even though the company can retain the 'Hero Honda' tag for two more years. On this, Managing Director (MD) and Chief Executive Officer (CEO), HMCL, Pawan Munjal, said, "We will be re-launching our entire range under the Hero brand name, and will complete the exercise by the second quarter of this fiscal."
Hero was entitled to retain the 'Hero Honda' badge till June 2014 as per the agreement it signed with its erstwhile Japanese partner, Honda. However, after revealing its new brand identity at London in August 2011, the company has undergone a revolutionary brand transition. After breaking its alliance with Honda and going solo in the market, Hero Motocorp has posted the highest ever sales volume of 6.2 million two wheelers. Munjal commented that the best selling Splendor and Passion bikes have been launched under the Hero brand in this quarter.
Since the Munjal-owned HMCL was extremely eager to create its unique identity in the market as soon as possible, speculations were rife since February 09, 2011 that it may drop the Honda brand name. The two wheeler manufacturer witnessed the record sales in April and May 2012 with sales volumes of 5,51,557 and 5,56,644 units, respectively. The company will start exporting its vehicles to foreign markets under the new brand name too, as it readies to embark upon its global journey. Shipping of the two wheelers will commence by July-September 2012 with shipment of Hero-branded 125 cc motorcycles to the new markets of Central America and Nigeria.
About the overseas operations, Munjal said, "Now that we are on the threshold of becoming a truly global company, our initial focus is on markets where the volumes are large and products can be sold with minimum changes. So right now, our existing products with suitable modifications will be made available in the new international markets. We have already identified partners for these markets.”
