Advanced Sports International
Advanced Sports International (ASI) is an American bicycle company whose flagship brand is Fuji Bikes. It also owns smaller brands including triathlon-focused Kestrel USA, component maker Oval Concepts, Breezer bikes, Tuesday Cycles and BMX maker SE Bikes. ASI is headquartered in Philadelphia and was led by until filing for bankruptcy.[1][2][3]
History[]
The company was established in 1998.[4] The company has generally followed a strategy of buying struggling brands and returning them to profitability.[5] ASI purchased Fuji Bikes in 1998 after Fuji's sales had declined due to missing the mountain biking boom.[6] It soon repositioned the brand from a mass-market brand sold mainly in to a higher-end brand sold by more independent bicycle dealers.
It bought Breezer Bikes in 2008,[7][8] Oval Concepts in 2009,[9][10] and Phat Cycles in 2015.[11] In August 2016, it purchased the bicycle retailer Performance Bicycle.[12][13][14]
In 2007, the company's total revenue was $50 million, with about 5% market share among bikes sold by independent dealers.[1] By 2015, that had grown to $105 million.[2]
It is associated with the Taiwanese bicycle manufacturer Ideal Bike Corp.[15]
Advanced Sports International filed for Chapter 11 bankruptcy on November 16, 2018.[16] All Performance Bike stores are closing.[17]
On February 1, 2019, the Tiger Group won ASI at auction.[18]
References[]
- ^ a b Van Allen, Peter (March 3, 2008). "Pedaling high-end Fuji bikes". Philadelphia Business Journal. Retrieved August 25, 2016.
- ^ a b Takiff, Jonathan (June 1, 2015). "Wheeler Dealers". The Philadelphia Inquirer. Retrieved August 25, 2016.
- ^ "Yuba Bicycles names Pat Cunnane as president and COO". Bicycle Retailer. December 16, 2020. Retrieved December 11, 2021.
- ^ George, John (September 10, 2016). "Northeast Philadelphia Bike Supplier Shifts into High Gear with $7M Stock Sale". NBC Philadelphia. Retrieved December 11, 2021.
- ^ "Xtri Interview: Steve Harad of Kestrel Bikes". Xtri. Archived from the original on September 20, 2016. Retrieved August 25, 2016.
- ^ "Fuji Transonic 1.3 review". Cycling Tips. June 2016. Retrieved August 25, 2016.
- ^ Boulanger, Gary (November 17, 2009). "Quick spin: Mountain bike pioneer Joe Breeze". BikeRadar. Retrieved August 25, 2016.
- ^ "Interview: Pat Cunnane and Joe Breeze". BikeBiz. November 20, 2008. Archived from the original on September 20, 2016. Retrieved August 25, 2016.
- ^ James Huang (January 9, 2010). "Advanced Sports, Inc. purchases Oval Concepts". Cycling News. Retrieved August 25, 2016.
- ^ Huang, James (January 9, 2010). "Advanced Sports, Inc. purchases Oval Concepts". Cycling News. Retrieved August 25, 2016.
- ^ "ASI buys Phat Cycles and Sterling bike brands". Bicycle Retailer. Retrieved August 25, 2016.
- ^ Lindsey, Joe (August 17, 2016). "Fuji Bikes' Parent Company Now Owns Performance". Bicycling. Retrieved August 25, 2016.
- ^ "ASI launching Fuji online sales through brick-and-mortar dealers". Bicycle Retailer. Retrieved August 25, 2016.
- ^ Ranii, David (August 17, 2016). "Chapel Hill's Performance Bicycle has a new owner". The News & Observer. Retrieved August 25, 2016.
- ^ "Shakeout at North American Bicycle Retail Market". Bike Europe. August 18, 2016. Retrieved August 25, 2016.
- ^ "Performance Bicycle owner ASE files for bankruptcy". VeloNews. November 16, 2018. Retrieved December 15, 2018.
- ^ "Important Update". Performance Bike. Archived from the original on December 15, 2018. Retrieved December 15, 2018.
- ^ "Tiger Group wins bid to buy ASE assets". Bicycle Retailer and Industry News. Retrieved February 4, 2019.
External links[]
- Bicycle framebuilders
- Companies based in Philadelphia
- Privately held companies of the United States
- Cycle manufacturers of the United States