Specialized Bikes
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Specialized Website: http://www.specialized.com
Origin
The history of Specialized Bike Components, now simply known as Specialized or Specialized Bikes, started way back in 1974 at Morgon Hill, California. The company was founded by cycling enthusiast Mike Sinyard, who got his start by selling his Volkswagen Bus for $1500 in a dream to fund a European cycling tour.
In the beginning, Sinyard started to import the Italian bike components, which were difficult to find in the US and sell them, however, Specialized began selling its own products with in two years, starting from 1976 with the products like the Specialized Touring Tyre. Specialized’s first road bike started to roll out in 1979 in Japan and was named Allez. Following the footsteps of Allez was the Stumpjumper, the world’s first major production mountain bike in 1981, which now comes with hardtail and full suspension options. Another first to Specialized’s list is the production of the Epic in 1989, which is also the world’s first production carbon fibre mountain bike.
Disaster strikes
Well, just as everything was going fine, the introduction of the Full Force brand, sold exclusively through discount retailers like Costco and other sports stores, made Authorized Specialized dealers angry, and caused some serious problems. In fact, the move that made the Specialized withdraw the Full Force product line in 1996 and forced the founder and CEO of the company, Mike Sinyard, to write an apology letter to the dealers. This disastrous moment resulted in the loss of nearly 30% of sales from Authorized Specialized dealers and brought Specialized to the brink of bankruptcy.
Rescue
The Taiwan bike manufacturer Merida Bikes came to the rescue of Specilized in the year 2001 by purchasing a 19% stake in the company, reported at US$30 million, and allowing Mike Sinyard to continue as the major share holder and the CEO. Since then, there is no looking back for Specialized Bikes and has emerged from almost dead to one of the world's largest bicycle brands.
Products
Despite the hurdles its faced, Specialized Bikes have still managed to produce some of the world’s most sophisticated bicycles and bicycle components. They have a whole range of products to match every category, no matter if you’re going for.
Currently, the company is producing more than 30 models under 4 different categories. These include Dirt/Park/Skate Bike for progressive riders, Mountain Bikes for adventurists who take it to the extreme, Transport/Path best suited for school going kids and commuting, then Road Bikes for conveniently travelling long distances.
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