Hero Cycle to open GDC in UK as part of its expansion plan

India's renowned cycle manufacturer, Hero Cycle is all set to open a global design centre (GDC) in Manchester, UK, to design and make next generation high tech bikes, for which it would invest about Rs 17 crore.
 
The company aims to increase its revenue share that come from the global market to raise up to 60 per cent which is currently standing at 20 per cent.
 
The company is focusing on global expansion, that is, having a design centre located somewhere closer to their targeted market will help them get the exposure of global talents. For this, they will also hire 25 new designers to design high tech bikes following the trend and need of the customers across the globe.
 
As per the expansion plan, the GDC will help them design products as per the need of the market. The process will be divided in few stages, that is, they will design it in UK, manufacture them in Sri Lanka and then export the final product to Europe, Africa and India.
 
The GDC has been proposed to rationalise design functions of the companies. This will include bringing its design, product development, innovation and market research at one place.
 
Investors will keep an eye on the growth curve of the company. It will be interesting to watch out the movement of its shares in coming days.