Hero MotoCorp, one of the largest manufacturers of motorcycles in the world, has hired the golf player Tiger Woods on a four-year contract to promote its brand
Automotive analysts say that the move is “a pioneering step” for an Indian company; Indian businesses have traditionally either bought brands overseas (as Tata did with Jaguar Land Rover) or used cricketers and Bollywood stars to appeal to their home market.
Hero’s chief executive, Pawan Munjal, said that his company, which is India’s largest maker of motorcycles with a market capitalisation of $10 billion, is “looking to Africa, South America, and Central America. These are the growing markets where we can take our current products and quickly ramp up volumes.
For a European market or US market, we will have to make different, newer products; these are the subject of design and conceptualisation right now.”
Mr Munjal said that he wants to see a tenth of Hero’s annual sales come from overseas by 2020 — and double the output of 6.2 million motorcycles achieved in the 2013-14 financial year.