MAM
HMC Group plans to triple exports, intl revenue to Rs 3000 cr by FY24
Mumbai: Riding on strong global demand for bicycles, e-bikes and automotive components, Hero Motors Company (HMC) Group is set to cross Rs 1000 crore in exports and international revenue by FY22, an increase of 92 per cent over FY 21. The company has set a target for further trebling this figure to Rs 3000 crore by FY 24, banking on high growth in the European and American markets.
The projections come at a time when the integrated bicycle manufacturer HMC Group marks its 65th Founder’s Day.
“With the first batch of ‘made in India’ HNF e-bikes to the European market and the launch of Hero E-cycle Valley, we are looking forward to robust global expansion and marking a major leap for indigenous manufacturing,” said HMC, chairman and MD, Pankaj M Munjal. “We are confident of crossing Rs 1000 crore of exports and international revenue and meeting another ambitious target of Rs 3000 crore by FY 24.”
During the pandemic, Hero Cycles has retained its market-leading share of about 43 per cent in the organised industry and led what is termed by CRISIL as the decadal-high growth in demand for cycles. With the plan to expand the business, this year, Hero Motors Company unveiled its new hi-end export-oriented manufacturing plant at the ambitious Hero E Cycle Valley, giving the company an edge in production of premium bicycles and e-cycles.
Operationalising the first phase of the Hero E Cycle Valley (Hero Industrial Park) will augment HMC’s annual production capacity to 10 million units, with a production of four million premium bicycles and e-cycles, majorly for global consumption. The Park aims to achieve complete localisation of component production by housing a series of international suppliers.
On the international front, Hero International – the European bike and e-bike arm of HMC established in March– aims to achieve organic revenue of up to €300 million by 2025, while adding €200 million from inorganic growth. Acquisition of UK brands Avocet Sports and Insync, setting up of a Global Design Centre in Manchester and acquisition of German high-end e-cycles manufacturer HNF are some notable initiatives in the direction of gaining a strong global foothold.
Brands
Limelight Lab Grown Diamonds to open 25 stores in Q1 FY26 expansion
Push into Tier 2 cities and metros to take total footprint past 85 stores
MUMBAI: Limelight Lab Grown Diamonds has kicked off the new financial year with an ambitious retail push, announcing plans to launch 25 new stores in the first quarter of FY26 across metros and high-growth Tier 2 markets.
With this expansion, the brand’s total retail footprint is set to cross 85 stores nationwide, reinforcing its early-mover advantage in India’s fast-growing lab grown diamond segment. The move reflects a broader shift in consumer preferences, where aspirational buying is increasingly aligned with sustainability and value.
The company said the expansion is aimed at deepening its presence beyond major cities and tapping into emerging demand centres, as lab grown diamonds gain wider acceptance among Indian consumers.
Commenting on the development, Limelight Lab Grown Diamonds founder and managing director Pooja Madhavan said, “Launching 25 stores at the very start of the financial year is a strong signal of how the category is evolving. As pioneers, we are not just expanding retail, we are shaping consumer mindsets towards smarter, more sustainable luxury.” She added that the brand’s long-term goal is to scale to 200 stores while making the category accessible to modern Indian buyers.
From an execution standpoint, the company is focusing on building depth in high-potential markets rather than just expanding its footprint. Limelight Lab Grown Diamonds director retail expansion Karamjyot Singh Chawla said, “Every new store is a step towards creating a truly national footprint with consistent, premium experiences,” highlighting the role of supply chain and operational discipline in supporting growth.
On the product side, the brand is strengthening its merchandising capabilities to keep pace with rising demand. Limelight Lab Grown Diamonds co-founder and director of inventory and merchandise Nirav Bhatt said the focus is on building an agile supply system that keeps designs relevant and responsive to consumer trends.
Meanwhile, scaling operations sustainably remains a priority. Limelight Lab Grown Diamonds co-founder and director production and finance Kalpan Dalal said the company is investing in efficient production and financial discipline to support long-term expansion.
The retail rollout is backed by an omni-channel strategy, franchise partnerships and continued investment in design innovation and consumer education. Each store is designed to deliver a consistent, premium experience aligned with the brand’s positioning around transparency and modern luxury.
With a roadmap to reach 200 stores by 2027, Limelight is betting big on both scale and sentiment, aiming to carve out a larger share of India’s evolving fine jewellery market.
