Stocks

Hero MotoCrop shares rise over 4% on tie-up with Harley Davidson

Internet Desk | Updated on October 28, 2020 Published on October 28, 2020

Hero MotoCrop on Tuesday announced an agreement with Harley Davidson for India's two-wheeler market.

As per the agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles and sell parts and accessories, and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero's existing dealership network in India.

"As part of a Licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name," Hero MotoCorp said in a statement.

 

These actions are aligned with Harley-Davidson's business overhaul, The Rewire, and the company's announcement in September to change its business model in India.

 

"This arrangement is mutually beneficial for both companies and riders in India, as it brings together the iconic Harley-Davidson brand with the strong distribution network and customer service of Hero MotoCorp," the Munjal-owned company added.

Shares of the company have risen 4.18 per cent to ₹3,034.5 and are up for the second consecutive day today. In the last two days, it had delivered a return of 4.1 per cent.

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Published on October 28, 2020
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