The Munjals of Hero group has announced their intentions to participate in the Indian retail boom. They will launch Lifestyle, HomeDecor and Fitness and Recreation Vehicle are the verticals the group is targeting. They have zeroed in one the Oma brand very similar to that of ours – Om.
Mr. Pankaj Munja, MD of Hero Group said,
We build a range of top end fitness equipment and we would like to bring them to India. Hero group has 3,500 cycle dealers and 1,100 Hero Honda Auto dealers. hero group plans to use the existing dealership network to establish PAN India presence and penetrate deep int remote corners of the country for its retail venture.
Fro my past experience, Hero Honda dealers used to be the most arrogant dealers in 2-wheeler market in 1999-2001. Munjal’s moves certainly bad for existing shareholders as he will use company resources for his retail venture.
Th company has tied up with Stalwart Homestyle to source 100% of its Home Decor solutions. They plan to launch 2 stores in Delhi and Chandigarh and test the water before expanding.