The history of Hero is the story of a family that together braved the ravages of Partition. Leaving everything behind, the Munjal family settled in Ludhiana, overcoming several odds to first begin trading, after which they established a small bicycle component manufacturing unit. By the early 1960s, led by co-founder Brijmohan Munjal, Hero started manufacturing its own bicycles on a large scale. By 1986 the company went on to become the world’s largest bicycle manufacturer, with several ancillary units supporting production. Hero also began diversifying across other verticals over this span of time.
In 1984, Hero joined hands with Japanese manufacturer Honda to set up Hero Honda Motor Ltd (now Hero MotoCorp Ltd), India’s first equity joint venture to manufacture motorcycles. The first plant came up in Dharuhera, Haryana; thereafter, Hero worked with several vendors to locate ancillary units near the factory, so that the supply of parts could be optimized. By the mid-1990s, through forays into Forging, Casting, Plastic Injection Moulding and Steel making, Hero possessed a strong and reliable supply chain.
By 1995, Hero Corporate Service was set up as a distinctive entity to act as Hero’s Corporate Office, and to ideate and anchor Hero’s future diversifications. Through the noughties, Hero Corporate Service built and consolidated diverse ventures.