Disney Consumer Products India and Hero Cycles launched their co-branded Disney and Marvel-inspired bicycles for children aged between 3 and 12 years. As part of the licensing agreement, Hero Cycles will make these bicycles priced from Rs 3,300 available at over 100 premium distributors.
"We strongly believe that these character-inspired bicycles will be a joyous experience for children and we plan to sell one million units over the next three years," said Pankaj Munjal, MD, Hero Cycles.
Striking a similar view, Roshini Bakshi, VP and Head of Consumer Products, Retail, Publishing and Franchise Marketing, DisneyIndia, said, “We are confident of the success of this product.”
The children's bicycles market is growing at 15 per cent annually, and Hero Cycles’ pan India distribution network includes 3,000 dealers.