Schwinn has bikes in every category — for men, women and kids — and sells them through mass retailers’ bricks-and-mortar stores and online channels, plus its D2C one. They’re low- to moderately priced, most under $1,000, though the top-of-the-line model in its e-bike roster goes for $4,000. Dick’s declined to comment on its Schwinn sales, and Walmart would only say that generally it’s selling more bikes during the pandemic than it did for Christmas last December. Americans turned to turning the pedals for fun, certainly, but also for exercise when their gyms and yoga studios closed and youth sports went on hiatus. Cycling also became a safe alternative to public transportation, observed Jay Townley, a former Schwinn executive and a founding partner at Human Powered Solutions, a cycling consulting firm. “The pandemic has made people aware, and afraid, of mass transit,” he said.
As such, trying to tell the entire story of Arnold, Schwinn & Co. is basically akin to describing 120 years of American industrial development in general. The company offers just as many lessons in the benefits of persistence and innovation as it does in the consequences of tunnel vision and stubbornness. Whole books have been published on Schwinn bikes, written by proper bicycle people. There is a thriving market out there for vintage Schwinn bikes, which is part of the reason a shop like Barnard’s (est. 1911) can still be in business today. Some buyers just like the look and feel of the old classics, while others are trying to tap into something more personal and sentimental.
Bicycle stores and repair shops often carry used or vintage bikes, and they may have some beautiful Schwinn models available. Additionally, you can find vintage Schwinn bikes at garage sales, estate sales, antique schwinn spin bike shops, and flea markets. While release dates of the updated classics were delayed, the new Sting-Ray is now available on Schwinn’s website ($499) and at Walmart and its other mass retail partners, Zucchi said.
In fact, this can be a great way to purchase an old Schwinn for an affordable price. If your vintage Schwinn needs some restoration, you can buy parts on eBay or from VintageSchwinn.com, a site devoted to Schwinn enthusiasts. Schwinn has shifted some summer marketing dollars to later in the year. “There’s no sense in doing a lot of marketing when people can’t buy products,” Zucchi said. “At one point, Schwinn almost meant bicycling,” said Bill Strickland, editor-in-chief at Bicycling magazine. “But questionable leadership didn’t understand what was happening and was slow to innovate. Companies like Specialized, Trek and Cannondale took market share, and by the time Schwinn responded in the ’90s, it was too late.”
Dorel’s second-quarter revenues were up 8.1% from the same period a year ago, to $724 million from $670 million. Revenues for the first half of this year were flat at $1.3 billion. The company does not break out numbers for Schwinn and its other units. Yet, because virtually every factory in China — where Schwinn’s products and the lion’s share of all bikes and parts are made these days — had been idled for nearly six weeks beginning in February due to the pandemic, the pipeline dried up. So like graduations, weddings and vacations, Schwinn’s big birthday bash had to be put on hold. Schwinn has tried to meet demand fortified by ecommerce sales through mass retailers such as Walmart and Target; and it has expanded its line of electric bike and scooters.