🠈 Huffy Bicycles 🠊
Huffy was a leading bike manufacturer in the United States. Their strongest success was in the kid's market. The company depended on sales through discount stores. Due to high labor costs in the US, they were uable to provide bikes at the price point demaned by these stores. Huffy tried outsourcing to Asia.
Despite the use of automation and concessions from the union. Huffy failed to compete. Huffy filed bankruptcy after an accounting scandal in 2004. I could not find details on the aquisition trail. The firm United Wheels currently owns the brand.
The video below discusses the rise and fall of Huffy.
The Huffy story is a bit confusing as the company created by George Huffman was liquidated in 1924. In that same year, his son Horace created a new manufacturing firm; so the official founding date is 1924. The company suffered financial problems in the 1990s and outsourced to Asia. Although it has corporate offices in Ohio, it is primarily a Chinese company now.
- 1887: George P. Huffman acquired the Davis Sewing Machine Company of Watertown, NY.
- 1890: Huffman moved the factory to Dayton, Oh to become the Davis Sewing Machine.
- 1892: Compay made its first Dayton Bicycle.
- 1924: The family liquidated its sewing machine company.
- 1924: George's son, Horace M. Huffman, Sr., founded the Huffman Manufacturing Company which originally concentrated on products for gas service stations.
- 1934: Huffy began concentrating on bicycles during the depression.
- WWII: Huffy manufactured parts for artillery shells during WWII.
- 1949: Company developed the Huffy Convertible.
- 1949: Company began manufacturing lawn mowers.
- 1953: Company began using the Huffy brand for all its bikes.
- 1964: Company acquired Diele and McGuire Manufacturing which made power tools for gardening. They lost money.
- 1968: Company held an IPO on the American Stock Exchange.
- 1970: Company created Huffy Corporation for its bicycle line.
- 1970: Huffy acquired Yorba Linda Cycle Enterprises in California to create bikes for major retailers.
- 1975: Company sold its lawn mower mower business.
- 1977: The successful Thunder Trail bike make Huffy the number one selling bicycle in the US.
- 1977: Company changed its name to Huffy Corporation.
- 1977: Huffy acquired Frabill Manufacturing which made basketball and fishing equipment.
- 1982: Huffy acquired Gerico which made infant car seats and strollers.
- 1988: Huffy acquired Washington Inventory Service.
- 1990: Huffy Corporation bought Black & Decker's of True Temper Hardware for $55 million.
- 1992: Huffy sought to acquired Schwinn which had filed for bankrupt. Apparently, their $60 million bid fell through.5.
- 1995: Huffy suffered a $10.5 million loss as it was unable to compete with Asian manufacturers.
- 1997: Evenflo Juvenile Furniture Company acquired Gerry Baby Products for $73 million.4
- 1997: Huffy acquired Royce Union Bicycle Co. which made high end bikes.
- 1997: Huffy acquired a bankrupt company Sure Shot International for $1.5 million. Sure Shot made products for basketball.
- 1997: Huffy released a BMX bike.
- 1998: The company's inventory service division acquired 1998 – The Washington Inventory Service subsidiary acquired Inventory Auditors, Inc which had 42 offices operating in 23 states.
- 1999: Huffy released an electric scooter called Buzz.
- 1999: U.S. Industries, Inc. bought Huffy's share of The True Temper Hardware Co. for $100 million.
- 1999: Huffy closed its US based manufacturing plants.
- 2004: Huffy reported financial irregularities and its stock declined 40% in a day.
- 2004: Huffy filed for bankruptcy.
- 20??: A Chinese based firm called United Wheels acquired the Huffy Brand.
- Bicycles and Bikes - Huffy (Drawn 7/27/2022)
- Wikipedia - Huffy (Drawn 7/27/2022)
- Encyclopedia.com - Huffy (Drawn 7/27/2022)
- NY Times - Evenflo acquires Gerry (Drawn 7/27/2022)
- Velo News - Huffy to buy Schwinn (Drawn 7/27/2022)
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