In 1895, Ignaz Schwinn and partner Adolph Arnold incorporated "Arnold, Schwinn & Company" on October 22 in Chicago. Ignaz and Adolph couldn't have dreamed that the company they envisioned as a simple transportation business would blossom into one of America's most popular brands.
Early bikes weighed about 22 lbs. and cost between $100 and $125 - a lot of bike for a lot of money in the early 1900s! Manufacturing advances in the 1920s allowed Schwinn to build and sell bicycles at lower costs, thereby making bikes available to more consumers - including children - for the first time. A new market was born and Schwinn was there.
In the next several decades, Schwinn made innovative strides such as the bicycle balloon tire, the Aerocycle, the Cyclelock, springer forks and the famous Black Phantom bicycle. The '50s saw celebrities like Bob Hope, Bing Crosby and Ronald Reagan endorsing Schwinn bikes, but in 1963 Schwinn produced perhaps the most famous bicycle of all time: the Sting-Ray. Kids across the country proudly cruised through neighborhoods with high-rise handlebars, banana seats, Stik-Shifts and racing Slik tires. Schwinn literally couldn't make enough of them. Various versions of the Sting-Ray were developed, but perhaps the most popular were the 1968 Sting-Ray Krates. These muscle-car era bikes were truly an American phenomenon. Every kid in America had a Sting-Ray or wanted one.
In 1967, Ignaz gave Adolph the boot, and "Arnold, Schwinn & Company" became the "Schwinn Bicycle Company," with the Schwinn family maintaining full ownership of the Schwinn brand.
The late 1970s saw the BMX craze in full gear, and though the Sting-Ray essentially fathered this style of bicycling, Schwinn came to the BMX dance a little late. To make matters worse, Schwinn management saw the mid-'80s mountain bike trend as a fad, and didn't jump into that game until many of its competitors had surged ahead in the exploding category. Some tragic writing was on the wall.
In 1993, the axe fell. Schwinn filed for bankruptcy and new owners Scott USA and Zell/Chilmark Fund L.P. took over, moving the company from Chicago to Boulder, Colorado just prior to Schwinn's 100-year birthday in 1995.
In 1997, Scott USA and Zell/Chilmark sold Schwinn to Questor Partners, an investment firm, and in 1998, two old rivals formed a lucrative marriage. Schwinn and GT bicycles joined forces to form the Schwinn/GT Corporation. Things were looking swell, but the honeymoon didn't last long. The Schwinn/GT Corporation filed for bankruptcy in 2001. Would the Schwinn bicycle become no more?
Enter Pacific Cycle, Inc., which bought the Schwinn/GT Corporation and returned Schwinn Bicycles to its Midwestern home. Finally the brand was back in the hands of a real bicycle company again! Bicycle aficionado Chris Hornung founded Pacific Cycle in 1977 when, straight out of college, he began designing, marketing and distributing high quality, low cost bicycles.
In 2004, Montreal-based Dorel Industries Inc., a global supplier of juvenile and home furnishing products, purchased Pacific Cycle.
Dorel Industries Inc. is a world class juvenile products and bicycle company. Established in 1962, Dorel creates style and excitement in equal measure to safety, quality and value. The Company's lifestyle leadership position is pronounced in both its Juvenile and Bicycle categories with an array of trend-setting products. Dorel's powerfully branded products include Cannondale, Schwinn, GT, Mongoose and SUGOI in Recreational/Leisure. Dorel is a US$2.2 billion company with 4700 employees, facilities in eighteen countries, and sales worldwide.