By 1990, other United States bicycle companies with reputations for excellence in design such as Trek, Specialized, and Cannondale had cut further into Schwinn’s market. Unable to produce bicycles in the United States at a competitive cost, by the end of 1991 Schwinn was sourcing its bicycles from overseas manufacturers. This in turn led to further inroads by domestic and foreign competitors. Faced with a downward sales spiral, Schwinn went into bankruptcy in 1992.[59] The company and name were bought by the Zell/Chilmark Fund, an investment group, in 1993. Zell moved Schwinn’s corporate headquarters to Boulder, Colorado.
You can complete our online Parts Request Form if you know what replacement part you need to order. We will contact the manufacturer and place the order for you, which can be shipped to us or directly to your home. We’ll keep you posted on the latest tips, product updates, and special offers.
Make it a trip to remember with camping and mountain biking combined! The kids will sleep great in their tents after all that riding. With the school year starting soon, it’s a great time to start thinking about college savings, even for little riders. Now through August 31, enter for a chance to win $10,000 to fund your child’s future. The Sting-Ray[28] sales boom of the 1960s accelerated in 1970, with United States bicycle sales doubling over a period of two years. The coolest, most coveted of the Sting-Rays was the Krate, a bike that puts a smile on the face of those who once owned this iconic ride.
Instead, most Schwinn derailleur bikes were marketed to the general leisure market, equipped with heavy “old timer” accessories such as kickstands that cycling aficionados had long since abandoned. While the Paramount still sold in limited numbers to this market, the model’s customer base began to age, changing from primarily bike racers to older, wealthier riders looking for the ultimate bicycle. Schwinn sold an impressive 1.5 million bicycles in 1974, but would pay the price for failing to keep up with new developments in bicycle technology and buying trends. At the close of the 1920s, the stock market crash decimated the American motorcycle industry, taking Excelsior-Henderson with it. Arnold, Schwinn, & Co. (as it remained until 1967) was on the verge of bankruptcy.
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Sometime in the 1970’s, the Schwinn Chicago factory was organized by the United Auto Workers union, who felt that bicycle factory workers should be paid on the same scale as automotive workers. Unfortunately, the realities of the marketplace didn’t agree, and Schwinn closed the factory, transferring most production to Japan (Panasonic) and Taiwan (Giant). Schwinn also built a factory in Greenville, Mississippi, but it didn’t last, and even bought a factory in Hungary, but the deal fell through, and Schwinn never imported any Hungarian bikes to the U.S. If I recall, it was what Schwinn called a “cantilever” frame, where the seat stays pass by the seat cluster and continue on in a graceful curve to join the bottom of the head tube. Older Schwinn “cruisers”, such as the Excelsior that was the inspiration of the first mountain bikes, used a straight lower top tube from the bottom of the head tube to the seat tube. In late 1997, Questor Partners Fund, led by Jay Alix and Dan Lufkin, purchased Schwinn Bicycles.
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The new frame and component technology incorporated in the Paramount largely failed to reach Schwinn’s mass-market bicycle lines. W. Schwinn, grandson Frank Valentine Schwinn took over management of the company. Another problem was Schwinn’s failure to design and market its bicycles to specific, identifiable buyers, especially the growing number of cyclists interested in road racing or touring.