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About ICON Fitness
Equipment and Furniture
In 1977, Scott Watterson and Gary
Stevenson, both business majors at Utah State University, founded
Weslo, Inc. to finance their college education. The two started the
company importing kitchenware, tableware, and marble products from
the Far East. In 1979, Weslo, Inc. responded to the nation's energy
conservation movement and acquired the rights to a freestanding
wood-burning stove. The company began marketing the stoves under
the trade name of Fire King, Inc.
The company's entry into the health and fitness industry began
with the manufacturing of trampolines. As they studied the exercise
and fitness market, they were able to take advantage of the
tremendous growth that occurred in the 1980s. Their entry into the
fitness market proved to be timely as the product line expanded to
include treadmills, exercise bikes, rowing machines, and home gyms
under the name ProForm Fitness Products, Inc. As the company's
exercise equipment business grew, the partners decided to spin off
their wood burning stove business to focus on the fitness
industry.
In 1988, Weider Health & Fitness acquired ProForm and Weslo.
The 50-year-old company was, at the time, a large manufacturer of
sport nutrition products, and the nation's largest publisher of
health, fitness, and lifestyle magazines.
In July of 1990, ProForm and Weslo moved into a new 300,000 square
foot international headquarters. The facility houses
state-of-the-art manufacturing and includes nearly all aspects of
the company's operations - from research & development,
assembly, customer service, and marketing.
In November of 1994, Weider Health & Fitness sold the assets
of ProForm Fitness Products, Inc. and Weslo, Inc. and Weider Care
to a group led by Bain Capital, Inc. of Boston. The new name became
ICON Health & Fitness, Inc.
HealthRider, a leading marketer of riders was purchased in August
of 1996. This acquisition provided another strong name to the ICON
family, and allowed the company to expand its sales through its own
chain of retail stores located across the country.
In 1999, ICON acquired the NordicTrack brand and developed it into
the premium line of home fitness products. ICON has expanded into
the commercial fitness market with the acquisition of FreeMotion
Fitness, Inc. The new division was launched in March 2001 and is
based in Colorado Springs, Colorado.
With nearly 4,000 employees and 11 locations around the globe,
ICON Health & Fitness, Inc. is one of the largest manufacturers
and marketers of fitness equipment in the world. As one of the
first U.S. fitness companies to venture into the international
arena, ICON has facilities located in China, Europe, Canada, and
the United States.
ICON has consistently pioneered the fitness industry and
demonstrated its power as an industry leader by delivering
state-of-the-art equipment for nearly 30 years. No other company
provides a more complete line of fitness solutions. In 2005, ICON
produced nearly 4 million units of quality fitness equipment,
including treadmills, incline trainers, elliptical machines,
stationary bikes, home gyms, weight benches, yoga and Pilates
equipment and other fitness accessories. ICON is ISO 9001
certified, meeting the international standard of quality for
manufacturers. In addition to manufacturing, ICON performs all
marketing, research & development and industrial design for its
products.
Pushing the envelope has contributed significantly to ICON's
impressive growth during its 28 years. The key to ICON's success
lies within its extensive research & development processes. The
company holds nearly 200 patents for its innovations and
technologies.
ICON Fitness
Equipment owns some of the best-known brands in
the fitness industry including NordicTrack, FreeMotion, ProForm,
EPIC, HealthRider, Weider, Image, and Weslo and licenses Reebok and
Gold's Gym brands. These brand names are immediately recognizable
to consumers and have a strong reputation for high performance
around the globe.
Founders Scott Watterson and Gary Stevenson are now serving as
Directors of the Company, and are based in Taiwan and Japan,
respectively, also serving as Mission Presidents for the Church of
Jesus Christ of Latter-Day Saints.
In January 2004, David Watterson was appointed as Chairman and
Chief Executive Officer, Matt Allen was appointed President and
Chief Merchandising Officer, Joseph Brough was named Chief
Operating Officer, and Jace Jergensen was named Senior Vice
President, R&D. Fred Beck maintains his office as Chief
Financial Officer.
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