Hero MotoCorp forays into Argentina
India's two-wheeler major Hero MotoCorp on Friday forayed into the Argentinian market with the global launch of its 125 cc bike 'New Glamour' as part of its aggressive global expansion plans.
The company has already roped in former Argentine soccer star Diego Simone, the current coach of Spanish club Atletico de Madrid, as its brand ambassador to push its products in the South American nation.
Hero MotoCorp MD and CEO Pawan Munjal said: "Our first global launch of a new motorcycle here is reflective of the importance of Argentina and Latin America for us on our global map."
South America is an important market for the firm, a fact borne out by its first overseas manufacturing facility in Colombia, he said in a statement.
Munjal further said: "With the commencement of our operations in Argentina, we are now significantly growing our presence in the region. We will be focusing on capturing an adequate market share here with our iconic product range.
The company has already begun brand building initiatives for Argentina by bringing on-board the Argentine legend - Diego Simeone, the coach of Atletico de Madrid, he added.
Simone is the second brand ambassador of Hero MotoCorp after ace American golfer Tiger Woods.
Hero MotoCorp has appointed Marwen SA as its distributor in Argentina. Marwen SA was established in 2004 and 2015. The company established a manufacturing plant in Villa Rosa Province of Buenos Aires. The plant has a capacity of 5,000 units per year with plans for future expansion.
Argentina is the 35th global market for Hero MotCorp.
For the local market in Argentina, Hero MotoCorp has also rolled out four products from its wide portfolio in the first phase - Hunk, Hunk Sports, Ignitor and the scooter - Dash.
In the second phase of its operations, the company will look at bringing in more products across different segments.
"These products will be sold through a network of 40 dealers across the regions of Capital Federal and GBA," the company said in a statement.
Munjal and Marwen SA President Esteban Casares inaugurated the first of these dealerships in Buenos Aires.
"We are confident that customers in Argentina will appreciate the Hero motorcycles and scooters that are known for their quality, reliability and performance, across the world," Casares said.
He further said: "The market in Argentina has a huge potential for the type of products that Hero offers and thus we are confident that the Brand will soon gain momentum across the country." The BS-IV compliant 125 cc New Glamour has been developed at Hero MotoCorp's R&D campus in the India keeping in mind young customers across the globe.