Retail in Asia

In Sectors

Walmart to sell Hero bicycles worldwide

Breaking the near monopoly of Chinese bicycle manufacturers, the Pankaj Munjal-promoted Hero Cycles has clinched an agreement with Walmart, the world’s largest retailer, to supply bicycles across the world. It will supply bicycles priced at USD200 apiece.

Pankaj Munjal, managing director, Hero Cycles, said: "In bicycles, we intend to double our sales to 10 million units annually by 2015. For that, we are exploring new geographies. We are approved with Walmart and can leverage their network to expand overseas."

The US retail major sources virtually all its bicycles from manufacturing units in China and Hero Cycles would be the first Indian supplier.