LAS VEGAS, NV (BRAIN)—Terry Precision Bicycles signed a license agreement for Advanced Sports, Inc. (ASI) to distribute an expanded line of women's performance and lifestyle bicycles.
"Partnering with Advanced Sports, a leader in bicycle distribution and sourcing, is a strategic decision that will help us re-launch our bikes to tie in with our successful line of clothing and accessories," said Liz Robert, new CEO of Terry. "We expect these new bikes to complement our existing apparel and accessory lines and provide performance to our consumers who participate in cycling activities."
ASI president Pat Cunnane said he looked at purchasing Terry earlier this year, but decided the softgoods line didn’t fit into ASI’s bike strategy. ASI develops and markets the Fuji, SE, Kestrel and Breezer bike brands. “When we looked at the company it didn’t match up. We’re a bicycle-focused company,” Cunnane said. After Robert purchased a majority stake in the company earlier this spring, Cunnane and Terry began discussing a partnership by which Terry could leverage ASI’s expertise on the bike side.
The new three-year contract gives ASI the rights to manufacture, sell and distribute the Terry line of women's bicycles worldwide. Ideal, a minority investor in ASI, will manufacture the bikes, which will be available for sale this spring. Cunnane said there is opportunity to expand the brand into international markets such as Asia where the demand for women’s–specific cycling products is growing.
Cunnane said the Terry brand is authentic. “It’s an easy story for us to work with from a product development standpoint. I know it will spill over to our other brands,” Cunnane said.
Founded by industry pioneer Georgena Terry, Terry Precision Bicycles has been producing women's-specific bicycles longer than any manufacturer in the industry. But Robert said the bike line had lapsed as the company focused on its softgoods line. “It was obvious to me needed to reestablish ourselves in bike category. The bicycle gives us credibility and differentiates us from Title 9 and Athleta,” said Robert, the former the CEO of Vermont Teddy Bear.
Georgena will be the driving force behind the line moving forward and will work with Burlington, Vermont-based firm JDK on the design.
The first ASI-produced models include the Susan B hybrid bike, the Symmetry fitness road bike, and the Tailwind performance road bike. All models feature Terry's signature comfort geometry and are spec'd with current components and materials. Plans for 2011 call for a wider range of women's products, including a carbon fiber frame.