The world's largest bicycle maker Hero Cycles today said it will foray into the premium segment by launching products in Rs 3,000-Rs 20,000 range by November this year and will set up exclusive outlets for selling them.The company is setting up a dedicated unit to roll out the premium cycles at Ludhiana. It is also scouting for partners in the US, Germany, Japan and the UK to export the cycles under a contract manufacturing deal. "Hero Cycles is working on a whole new range of premium brands. These will be targeted to all segments starting from kids. We are looking to introduce a completely new premium brand by November," Hero Cycles Managing Director told PTI.
Story first published: Tuesday, August 9, 2011, 10:03 [IST]