Hero MotoCorp Unveils First ‘Premia’ Store in New Delhi

On August 7, 2024, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, expanded its premium network by opening its first ‘Hero Premia’ store in New Delhi today. This move is part of the company’s comprehensive premiumisation strategy.

Located in the well-known auto hub of Naraina industrial area, the new store showcases 8 models and includes separate sections for Hero, VIDA, and Harley-Davidson products. Hero MotoCorp is quickly growing its network of premium stores across India, with more than 40 Premia stores now open in over 35 cities.

Hero Premia stores feature modern architecture, stylish design, and cutting-edge digital technologies. They offer a top-notch premium experience, with skilled Premia Sales consultants providing personalised customer service. The Premia Service also includes exclusive technical experts for a high-quality service experience.

During the store’s opening event, Dr Pawan Munjal, Executive Chairman of Hero MotoCorp, presented the keys to the Mavrick 440, VIDA V1, and Harley-Davidson X440 to the first customers. Hero Premia stores display a wide range of Hero MotoCorp’s premium products, including the Mavrick 440, Harley-Davidson X440, Karizma XMR, Xpulse 200 4V, Xtreme 160R, and VIDA V1. They also offer merchandise and accessories from both Hero MotoCorp and Harley-Davidson.

Financial Highlights

In Q4 results, Hero MotoCorp reported a standalone profit of ₹1,016 crore, an 18% increase from ₹859 crore in the same period last year. The company’s revenue from operations for the quarter was ₹9,519 crore, up from ₹8,307 crore, marking a 15% year-on-year growth. Consolidated revenue for the quarter was ₹9,617 crore, representing a 14% increase compared to the previous year. The profit after tax (PAT) was ₹943 crore, showing a 16% growth from a year earlier.

About Hero MotoCorp

Hero MotoCorp, originally known as “Hero Honda,” is one of India’s first motorcycle manufacturers. As of 2024, the company has 7 models in this segment, which includes sports, adventure, and roadster bikes. The premium segment contributed approximately 25% to the revenue mix in Q3 FY24. Hero MotoCorp has brand associations with Harley Davidson, Mavrick, Xpulse, and Xtreme.

On August 08, 2024, Hero Motocorp Ltd’s share price opened at ₹5,235.00, touching the day’s high at ₹5,252.00 at 10:55 AM on the NSE.

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