Currently, Firefox sells over 70 different models of bicycles and 25 Trek models through a network of company-owned and franchise outlets. Share Via.
More thanleisure bikes were sold in in a market whose estimated size is 15 million bicycles a year. Shiv Inder Singh, founder and managing director of Firefox Bikes, will, however, continue to lead it after the acquisition as its chief executive officer.
In contrast, India exports less than two million bicycles a year.
Since then, Hero has established a strong foothold in Ludhiana and from there they started venturing in The growth in the segment is largely on account of customers taking up cycling for fitness, recreation and lifestyle reasons. The promoters of Delhi-based Firefox Bikes have divested their entire equity stake in the company.