Brands
Hero Motocorp shifts gears, powers into electric three-wheelers
MUMBAI: Hero Motocorp is revving up its electric ambitions, acquiring a significant stake in Euler Motors, a fast-growing player in the EV space. The deal, worth up to Rs 525 crore, will give Hero a strong foothold in the booming electric three-wheeler market, where EVs are expected to hit 35 per cent of total sales in the near future.
“Our strategic investment in Euler is a bold step towards realising our vision to ‘Be the Future of Mobility’,” said Pawan Munjal, executive chairman, calling the move a blend of innovation, sustainability, and smart expansion.
The investment, approved by Hero’s board, will be made in one or more tranches and will see Hero take an approximately 32.5 per cent stake in Euler on a fully diluted basis. The funds will be a mix of primary investment in equity and Series D convertible preference shares, along with the option to buy shares from existing Euler shareholders.
Euler Motors, already present in 30 Indian cities, is a rising force in electric three-wheelers and recently launched its first electric commercial four-wheeler. The company’s turnover has accelerated sharply, jumping from Rs 25 crore in 2022 to Rs 172 crore in 2024.
For Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, this investment is more than just a new venture—it’s a clear signal that the future is electric, and Hero is here to lead the charge.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
