Business
Walmart Stores In The US Begin Selling Cruiser-Style Bicycles Specially Designed And Made In India By Hero Ecotech
A Hero Ecotech-made bicycle outside Walmart
The first made-in-India bicycles to be sold in the United States (US) hit the stores of the Walmart supermarket chain this week, timed nicely for the year-end holiday shopping season.
Hero Ecotech, India’s largest manufacturer and exporter of bicycles, has specially designed and manufactured the cruiser-style pedal bikes to be sold under Walmart’s own "Concord" brand.
Walmart had signed a purchase order with Hero Ecotech bicycles for the US market in 2022.
The bikes are now available in select stores in an adult men’s and women’s version.
The Indian ambassador to the US, Taranjit Singh Sandhu, was at a Walmart outlet where sales of the Indian bikes were inaugurated.
"Make in India, Make for the World! Delighted to witness the launch of Walmart's first made-in-India bicycles, manufactured by #HeroCycles #Ludhiana," Sandhu said on social media platform X.
Andrea Albright, Executive Vice President for Sourcing at Walmart, referred to Walmart's "growing relationship with India" in a LinkedIn post on 13 December.
"Hero Ecotech bikes are now available at over 400 Walmart stores across the U.S. under private brand Concord. Our collaboration with Hero Ecotech Ltd. aligns with our growing relationship with India and commitment to increasing India exports to $10 billion each year by 2027," she wrote.
Highlighting how Hero Ecotech "stands out from the pack," Albright wrote: "Approximately 90 percent of materials used in their bikes are sourced locally in India, meaning they are investing in their communities, creating jobs and spurring economic opportunity – values we share at Walmart."
Vijay Munjal, Chairman of Hero Ecotech, is excited about his company's collaboration with Walmart. "We are proud to be among the first Indian-built products to join the bicycle category at Walmart and believe the Concord cruisers represent the quality work of our employees and our company."
Walmart's India Commitment
By 2027, Walmart intends to triple exports from India.
The company is committed to the Indian market, reiterated Albright.
"As part of Walmart’s contribution to the country’s Make in India initiative, the company aims to empower 50,000 MSMEs to participate in domestic and global supply chains through Walmart Vriddhi, a comprehensive growth and training programme launched in 2019 that helps MSMEs modernize, scale, and meet their domestic and international ambitions," she said.
On 14 and 15 February 2024, Walmart is set to host a Growth Summit in New Delhi, offering pitch opportunities for export-ready suppliers, innovators, and entrepreneurs in India.
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