Walmart Sources Bicycles from India, Partners Hero Ecotech
Dec 12, 2023 21:47
Walmart partners with Hero Ecotech to source bicycles from India, boosting exports and offering cruiser-style bikes in US stores.
Photograph: Daniel Becerril/Reuters
New Delhi, Dec 12 (PTI) Global retail major Walmart has started sourcing bicycles from India by entering into a strategic partnership with Hero Ecotech.
The first India-made bicycles are hitting select stores in the US market just in time for the holidays, Walmart said in a statement.
This is part of Walmart's commitment to triple exports out of India to USD 10 billion annually by 2027, it added.
Hero Ecotech has designed a cruiser-style bike for Walmart carrying the Concord brand available in both adult-sized men's and women's versions adding to the company's growing bicycle offerings.
The cruisers sold in Walmart US stores are built with more than 90 per cent of raw materials sourced from India.
Andrea Albright, Executive Vice President, Sourcing, Walmart said: "India is well-positioned to support increased demand for products by Walmart customers, and we are excited about our partnership with Hero Ecotech.
This collaboration furthers our work to strengthen resiliency in our global supply while contributing to economic growth worldwide.
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