Greetings! Over the past couple weeks or so the news of Hero Honda becoming Hero MotoCorp is around the web. The news has just materialized on Friday with Hero Honda becoming Hero MotoCorp with the consent of its shareholders officially. Hero Honda Motors Ltd, the largest two wheeler company by volume has on Friday got shareholders approval to change its corporate name to Hero MotoCorp Ltd. With this new name the company is definitely looking to establish a new image for itself and its band of motorcycles.
Now that the shareholders have approved the name changes Hero Honda is looking forward to adopt the name as quickly as possible. Their approval will now be sent to the registrar for any final changes. Hero and Honda are one part of a great 27 year legacy that broke somewhere in 2010 end. The joint venture was literally a benchmark for many of the companies but it is very unfortunate that the venture between the two no longer exists.
On the contrary, Munjals have every right to use the name Hero Honda till 2014 but they are keen to experiment with the new name and establish their own markets post break up with Honda. Moreover Hero Honda has assigned the task of brand positioning and brand building to London based Wolff Olins. The company plans to export to Africa, Latin America, West Asia and South Asia.
The Hero group is keen to focus on their export strategies as now they are under no obligation that can restrict them from exporting their products to countries where Honda is present. The group has also set aside as much as Rs.100 Crores for brand building and market positioning. All in all it is clear that the company is all set to experiment with its new brand name. We will have to wait and see if this name fetches anything to Hero Honda or not.