Hero Honda gears up for name change, may call it Hero Moto

Below is a verbatim transcript of CNBC-TV18 Swati Khandelwal Jain’s report. Also watch the accompanying video.

Sources say that Hero Honda will now become Hero Moto. Sources tell that the company has applied to the Registrar of Companies for a name change. In fact, they are awaiting response from Registrar of Companies for the name availability. As far as the implementation of this new name is concerned, sources share that it would take about two months time because they would need shareholders approval for the same. Sources also tell us that as far as the products are concerned, the brands are not going to see any name change. So, a Hero Honda Passion or a Hero Honda Pleasure or Splendor will become Hero Moto Passion or a Hero Moto Splendor.

As far as the overall spend is concerned, we understand from sources that Hero Group is looking at spending about Rs 200 crore on its re-branding exercise and this is going to be very crucial for the export market strategy. Sources tell us that they have identified a couple of markets to enter in this financial year itself, some of the African markets and some markets in Latin America. Hence, now with a new name Hero Group is all set to enter into the export markets as Hero Honda now becomes Hero Moto.