According to news reported by Economic Times, Hero Motocorp, India’s largest two wheeler company is all set to remove Honda badge from its entire model range. Hero Motocorp will relaunch, its entire model range under the brand name of Hero by the end of second quarter of financial year 2012-13. Hero Motocorp will complete its rebranding exercise two year ahead of its expiry of license agreement. Under the license agreement, Hero Motocorp can use Hero Honda brand name till June 2014.
Pawan Munjal, MD & CEO of Hero Motocrp said “We will be re-launching our entire range under the Hero brand name, and will complete the exercise by the second quarter of this fiscal. Now that we are on the threshold of becoming a truly global company, our initial focus is on markets where the volumes are large and products can be sold with minimum changes. So right now, our existing products with suitable modifications will be made available in the new international markets. We have already identified partners for these markets. We expect at least 25% growth in our international business in the first year of our opening these new markets. These exports to new international markets will only be under Hero brand.”
Earlier the company relaunched its flagship motorcycle “Splendor” and “Passion” under the Hero brand name in this quarter. The company is very bullish on export front. However, it is not easy to capture export market as expected by Hero Motocorp, since it takes time to establish brand name in export market.