Company Start
Ignaz Schwinn and his partner Adolph Arnold, incorporated "Arnold, Schwinn & Company" in Chicago on October 22, 1895. The company focused on bicycle design and quality production, leading to business success and growth, selling to bicycle enthusiasts and, later, children.
Sting-Ray and BMX
The Sting-Ray was introduced in 1963. The Sting-Ray's design, including its steering geometry, short wheelbase and 20-inch wheels, made it handle extremely well. City kids loved doing wheelies and riding around on the dirt in vacant lots.
Meanwhile, the sport of Motocross, first introduced in Holland, was catching on in the United States. Soon, bicycle motocross (BMX) became popular, and the Sting-Ray was widely modified for the new sport. By 1967, 70% of all bikes sold in the U.S. were Sting-Rays or copies of the model.
Bankruptcy
mountain bike world cup 2006 image by Doug Stacey from
Fotolia.com
By the late 1980s, BMX and mountain bikes had become a huge market. Today there are more than 200 brands of BMX bikes for sale. Ironically, Schwinn was slow getting into the mountain bike market. The still-family-owned company lost market share and entered bankruptcy in 1993. In 1994, under new management, Schwinn moved to Boulder, Colorado, a site where mountain biking was hot. The company hired outstanding personnel and revitalized its design, leading to renewed growth.
Scwhinn/GT
In 1998, the Schwinn company teamed up with GT Bicycles as the Schwinn/GT Corporation. Its leading-edge design led to great growth in the specialized bike-shop market, but missteps and competition from mass toy stores again led to bankruptcy in 2001.
Pacific Cycle purchase
Pacific Cycle, a large bicycle importer that markets Mongoose, Pacific and Roadmaster brands, bought Schwinn/GT and, in 2002, began selling the Schwinn brand at mass retailers.
Today
Dorel Industries, Inc., a global consumer products company, bought Pacific Cycle in 2004. Today, Schwinn's focus is still on design and high-quality workmanship. In addition to juvenile bikes, traditional Cruisers and BMX, its current brands include the innovative Iso-Drive mountain bikes, Super Sport road bikes and Sierra and Voyager comfort bikes.
