Can you imagine that in an era of Motor Vehicles, there are 1.7 Cr cycles sold in India every year, culminating in sales of Rs 6,500-7,000 crores!
You must be shocked when a 70 years old brand Atlas Cycle, producing 40 Lacs cycle a year, SHUTDOWN!!
(Temporary shutdown as per official statement)
Atlas Cycles Haryana Ltd (ATCY) started in India in 1978 and was the official supplier of bicycles to the 1982 Asian Games held in New Delhi.
Atlas logo has been derived from the Greek God, depicting the legendary hero holding the world on his shoulders. Thus Atlas assimilates in itself aspirations of millions in their progress and transition through various phases in their lives.
India produces approximately 10% of the world's annual bicycle production, which is estimated to be 125 Mn units.
The company has already put up an application to the NCLT seeking permission to sell the surplus land to operate again.
What’s your Cycles story?