Hero & Avocet Launching New Made in Europe Brands
FRIEDRICHSHAFEN, Germany – ‘Riddick’ is the new brand name that Indian Hero Cycles and its UK-based subsidiary Avocet launched at Eurobike. Taiwan-made Riddick MTBs are to be marketed exclusively via IBDs throughout Europe.
The Riddick mountain bikes will probably not be assembled in Taiwan for long. In particular because Hero Cycles chairman and managing director Pankaj Munjal is on the verge of taking over a production facility located in Eastern Europe. He recently visited 4 plants in the region, which should result very soon in a take-over announcement.
At Eurobike Munjal stressed the fact that a facility in Europe is needed for making bikes under the brand names that Hero Cycles and Avocet are presenting. Next to Riddick these brands are ‘Lectro’ for e-bikes, ‘De Novo’ for kid bikes, ‘Simmonsohn’ for tandems and ‘Rooster’ branded bikes for the mass market.
‘Big synergy opportunities’
Pankaj Munjal further stressed the fact together with the recent take-overs – BSH in Sri Lanka en Avocet in the UK – he has now, ‘the fundamentals in place’ for strengthening the supply chain with big synergy opportunities’.
Under the new Riddick brand 29-ers and 27.5 mountain bikes are marketed with an e-MTB planned for MY 2018. De Novo kid bikes are made in Sri Lanka and are targeting kids from ages 3 to 10. Under the Lectro brand a range of entry-level electric bikes is offered. Simmonsohn was created as, “Europe in particular has seen a resurgence in demand for good quality tandems.”