India-based motorcycle manufacturer Hero MotoCorp has hired Tiger Woods to "promote its brand as it pushes into new markets and aims to double production" to 12 million units annually in the next five years, according to Victor Mallet of the FINANCIAL TIMES. Hero Managing Dir & CEO Pawan Munjal said, "We want to make the brand recognizable very quickly." He added, "What we really need to do is partner and ride on another hugely successful global brand." Munjal said the four-year contract with Woods will cost "a substantial amount." The partnership is a "pioneering step for an Indian company." Indian groups have "typically either bought brands overseas ... or used cricketers and Bollywood stars to focus their branding efforts on their home market." Hero is partnering with Woods at a "difficult time for the 38-year-old golfer," who has not played in a PGA Tour event since August. Hero, which "ended its joint venture with the world’s number one producer Honda three years ago to go it alone, is India’s largest maker of two-wheelers." Munjal will announce the deal with Woods in Orlando, Fla., where Hero is title sponsor of Woods' annual golf tournament, now called the Hero World Challenge (FT, 12/2).
