Though Firefox Bikes Pvt Ltd will remain a separate entity despite Hero Cycles acquiring it in a recent development but a lot will change for the two companies. Ajit Gandhi, Marketing Head, Firefox Bikes Pvt Ltd, shares more on this aspect with us in an interview.
What happens to Firefox’s identity after Hero acquired it?
Firefox will continue to remain as a separate brand identity. Nothing will change neither the manpower nor the policy of the brand.
What will be the effect of the new development?
It is good for both the companies and beneficial for Firefox. We will have a strong financial backing of a big company. With this our marketing budget will increase and we will be able to bring in more international brands to India. This will also help us to enhance our retail presence.
What are your expansion plans?
We currently have 210 Firefox outlets in India. In the ongoing financial year, we plan to set up 40 to 45 outlets. Of the total planned expansion, we have already opened 17 stores.
We are fast expanding into metros and tier-II cities in the country. Recently, we have seen a huge scope in tier-III cities as well and are moving towards that side too.
What growth of the Indian bicycle market do you see in the near future?
The sector is growing very fast as there is awareness in the market. Events like no car day are helping boost the sales of bicycles in the country. With people becoming more health conscious and cycle being a non-polluting vehicle, there is huge scope in the urban bicycle market.
What business opportunities are there for franchisees?
There are ample opportunities for the franchisees in the bicycle sector. We offer franchise for entrepreneurs and they can run a Firefox bicycle outlet.