Hero to launch Disney-branded bicycles in India
Mar 07 2014 , New Delhi
As part of the licensing agreement with Disney India's Consumer Products arm, Hero Cycles will sell 12 models, priced between Rs 3,300 to Rs 4,500.
These cycles, inspired by Disney and Marvel stories and characters, will be available across more than 100 premium distributors.
The range, featuring Disney franchises like Mickey & Friends, Disney Princesses, Disney.Pixar Cars and Marvel's Spider-Man, will be made available across 30 cities in the first three months.
The companies did not disclose the revenue sharing details.
"Today's kids have an opinion of their own and it is important for us to provide play options to the younger fans that are inspired by the characters they are growing up with. With this licensing deal, Disney and Marvel inspired range of bicycles will be available for our fans across India," Disney India VP and Head (Consumer Products, Retail, Publishing and Franchise Marketing) Roshini Bakshi told PTI.
In the first phase, Hero will manufacture one lakh Disney and Marvel branded bicycles in the first year. It will be scaled up to five lakhs in the second year and a million cycles by the third year.
"Cycles are the first medium through which a child gets to feel the road. We strongly believe that introducing character-inspired cycles will make cycling a pleasurable and joyous experience for kids," Hero Cycles Managing Director Pankaj Munjal said.
The kids bicycle segment is one of the fastest growing markets in India at 15 per cent annual growth. The overall market of kids bicycles, including organised and unorganised, is around 3 million units.