Walmart partners with Hero Ecotech to introduce Made in India bicycles in US stores

Walmart has embarked on a strategic partnership with Hero Ecotech, a leading Indian manufacturer of bicycles, to enhance resiliency in its bicycle supply chain just in time for the holiday season. The collaboration aligns with Walmart's ambitious target to triple its exports from India to $10 billion annually by 2027.

Walmart revealed that the first batch of India-made bicycles, designed by Hero Ecotech, is now available in select US stores. The "cruiser-style" bikes, under the Concord brand, cater to both adult men and women, expanding Walmart's diverse bicycle offerings. This venture signifies Walmart's commitment to diversifying its product range and sourcing strategies.

Hero Ecotech is among several Indian manufacturers forging supplier relationships with Walmart, contributing to the retail giant's goal of tripling exports from India. Walmart recently announced the Walmart Growth Summit, a forthcoming event scheduled for February 13-15, 2024, in New Delhi. The invitation-only summit aims to provide export-ready suppliers, micro-, small-, and medium-size enterprises (MSMEs), and innovative companies an opportunity to pitch for business and strengthen ties with Walmart.

Andrea Albright, Executive Vice President of Sourcing at Walmart, expressed enthusiasm about the collaboration, stating, "Our collaboration with Hero Ecotech supports that goal and demonstrates manufacturing growth and capability in India overall." Vijay Munjal, Chairman of Hero Ecotech, highlighted the significance of the partnership and encouraged other Indian manufacturers to explore opportunities with Walmart at the upcoming Walmart Growth Summit.

The cruiser bikes introduced in Walmart US stores utilise over 90 per cent of raw materials sourced from India. Hero Ecotech holds the distinction of being India's largest exporter of bicycles, shipping its products to more than 80 countries.

Walmart's commitment to the Indian market extends beyond the bicycle category, with the company already exporting products across various sectors. As part of its contribution to India's Make in India initiative, Walmart aims to empower 50,000 MSMEs through Walmart Vriddhi. Launched in 2019, this comprehensive growth and training program assist MSMEs in modernising, scaling, and realising their domestic and international ambitions.