Hero MotoCorp, a prominent two-wheeler manufacturer, has taken a significant step in its pursuit of the premium motorcycle market by opening its first premium-exclusive showroom named ‘Premia.’ This initiative is part of the company’s three-pronged strategy to establish itself as a leading brand in the premium motorcycle segment.
The ‘Premia’ dealerships are set to feature Hero MotoCorp’s newly launched premium motorcycles, including models like the Harley Davidson X440 and the Karizma XMR, as well as the electric scooter, Vida V1. These showrooms have been designed with distinct ‘zones,’ which include urban and street motorcycling zones, aiming to provide a unique marketing experience tailored to a diverse set of buyers.
The inaugural ‘Premia’ dealership has been opened in Kozhikode, Kerala. This branding endeavor is aimed at attracting a new generation of young, aspirational buyers and securing a share of the rapidly expanding premium two-wheeler market, amid increasing competition from industry peers.
Hero MotoCorp’s strategy to build a resilient premium motorcycle business involves three key elements: creating a robust product portfolio, enhancing distribution capabilities, and expanding its presence in the electric vehicle (EV) sector.
The company stated in a press release, “Promising a fresh automotive experience to all visitors, Hero Premia features modern architecture, appealing design, and engaging new-age digital technologies. Delivering the best-in-class premium ownership experience, a team of professionally trained sales consultants will offer valued customers personalized sales advice as per their mobility needs.”
Under the leadership of CEO Niranjan Gupta, Hero MotoCorp has outlined a comprehensive business agenda consisting of three pillars:
- Expanding the commuter segment of motorcycles, where Hero MotoCorp already holds a nearly 70% share, targeting those with engines below 125cc.
- Executing a three-pronged strategy to gain a foothold in the premium category of two-wheelers.
- Establishing leadership in the electric vehicle market.
Hero MotoCorp has launched more new models in the premium category in the current year than ever before in its history. The company is implementing a substantial overhaul of its distribution strategy, upgrading up to 40% of its dealers to ‘Hero 2.0’ showrooms designed to accommodate premium brands. They are also creating exclusive, premium stores to showcase the full range of premium motorcycles, including electric vehicles.
The premium motorcycle market often demands a higher level of retail experience due to the discerning nature of customers, and Hero MotoCorp is addressing this by revamping physical spaces and creating an enhanced retail journey to cater to premium buyers. Their collaboration with prominent brands, such as Harley Davidson, plays a vital role in achieving their premium motorcycle aspirations.
