Advanced Sports International

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Advanced Sports International 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, and BMX maker SE Bikes. It is headquartered in Philadelphia and led by Patrick Cunnane.[1][2]

It has generally followed a strategy of buying struggling brands and returning them to profitability.[3] It bought Fuji Bikes in 1998 after Fuji's sales had declined due to missing the mountain biking boom.[4] It soon repositioned the brand from a mass-market brand sold mainly in sporting goods stores to a higher-end brand sold by more independent bicycle dealers.

It bought Breezer Bikes in 2008,[5][6] Oval Concepts in 2009,[7][8] and Phat Cycles in 2015.[9] In August 2016, it purchased the bicycle retailer Performance Bicycle.[10][11][12]

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.[13]

Advanced Sports International filed for Chapter 11 bankruptcy on November 16, 2018.[14] All Performance Bike stores are closing.[15]

On February 1, 2019, the Tiger Group won ASI at auction.[16]

References[edit]

  1. ^ a b Van Allen, Peter (March 3, 2008). "Pedaling high-end Fuji bikes". Philadelphia Business Journal. Retrieved August 25, 2016.
  2. ^ a b Takiff, Jonathan (June 1, 2015). "Wheeler Dealers". The Philadelphia Inquirer. Retrieved August 25, 2016.
  3. ^ "Xtri Interview: Steve Harad of Kestrel Bikes". Xtri. Archived from the original on September 20, 2016. Retrieved August 25, 2016.
  4. ^ "Fuji Transonic 1.3 review". Cycling Tips. June 2016. Retrieved August 25, 2016.
  5. ^ Boulanger, Gary (November 17, 2009). "Quick spin: Mountain bike pioneer Joe Breeze". BikeRadar. Retrieved August 25, 2016.
  6. ^ "Interview: Pat Cunnane and Joe Breeze". BikeBiz. November 20, 2008. Retrieved August 25, 2016.
  7. ^ James Huang (January 9, 2010). "Advanced Sports, Inc. purchases Oval Concepts". Cycling News. Retrieved August 25, 2016.
  8. ^ Huang, James (January 9, 2010). "Advanced Sports, Inc. purchases Oval Concepts". Cycling News. Retrieved August 25, 2016.
  9. ^ "ASI buys Phat Cycles and Sterling bike brands". Bicycle Retailer. Retrieved August 25, 2016.
  10. ^ Lindsey, Joe (August 17, 2016). "Fuji Bikes' Parent Company Now Owns Performance". Bicycling. Retrieved August 25, 2016.
  11. ^ "ASI launching Fuji online sales through brick-and-mortar dealers". Bicycle Retailer. Retrieved August 25, 2016.
  12. ^ Ranii, David (August 17, 2016). "Chapel Hill's Performance Bicycle has a new owner". The News & Observer. Retrieved August 25, 2016.
  13. ^ "Shakeout at North American Bicycle Retail Market". Bike Europe. August 18, 2016. Retrieved August 25, 2016.
  14. ^ "Performance Bicycle owner ASE files for bankruptcy". VeloNews. November 16, 2018. Retrieved December 15, 2018.
  15. ^ "Important Update". Performance Bike. Retrieved December 15, 2018.
  16. ^ "Tiger Group wins bid to buy ASE assets". Bicycle Retailer and Industry News. Retrieved February 4, 2019.

External links[edit]