Leading bicycle maker Hero Cycles today said it has tied up with Pantaloon Retail India (PRIL) under which its premium products will be sold at Future Group's different stores.
As part of the agreement, the company will sell its high-end bicycles at PRIL's Planet Sports outlets along with other shop-in-shop formats within other retail points of the Future Group such as Central, Pantaloons, Brand Factory and Sports Warehouse across all metros and tier one cities.
"The tie-up is aligned with Hero Cycle's strategy to address the premium bicycle market, while continuing to be the market leader in the mass segment through its established brand loyalty," Hero Cycles Managing Director SK Rai said in a statement.
With annual production capacity of 5.5 million cycles, Hero Cycles caters to Indian consumers with 3,000 dealerships across the country.
Meanwhile, Planet Sports is also expanding its brand portfolio in the country and has recently introduced outdoor footwear brand Salomon from the Amer Sports Group.
"We see demand growing in India for footwear used in outdoor activities such as running, trekking and backpacking. To support the launch the company is also organising two running events in India in the next 45 days," Pantaloon Retail CEO (Sports Division) Ravdeep Singh told PTI.
Planet Sports is a retail format of PRIL with 80 specialty stores spread across 30 cities that sell a large range of sports and lifestyle brands such as Converse, Speedo, Wilson, Skechers, Salomon, Reebok, Nike, Adidas, Puma, Spalding and Spunk.
