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BowFlex, Inc.

From Wikipedia, the free encyclopedia
For other uses, see Nautilus (disambiguation).
BowFlex, Inc.
Company typePublic
OTC Pink: BFXXQ
NYSE: BFX
IndustryExercise equipment
Founded1986 (1986)
HeadquartersVancouver, WA
Key people
James "Jim" Barr IV (CEO)
Aina E. Konold (CFO)
RevenueDecrease US$309.29 million (2019)[1]
Decrease US$−28.54 million (2019)[1]
Decrease US$−92.8 million (2019)[1]
Total assetsDecrease US$220.48 million (2019)[1]
Total equityDecrease US$90.6 million (2019)[1]
Number of employees
434 (2020)[2]
Websitebowflex.com

BowFlex, Inc., formerly Nautilus, Inc., located in Vancouver, Washington, United States, is the American worldwide marketer, developer, and manufacturer of fitness equipment brands Bowflex, Schwinn, and JRNY, its adaptive fitness platform.[3] The company changed its corporate name from Nautilus, Inc. to BowFlex, Inc. in 2023.[4] BowFlex Inc. is a publicly traded company listed on the OTC Markets Group as BFXXQ, and formerly on the New York Stock Exchange.[5] The company's products are sold globally to customers through e-commerce, call centers, and retail stores.[6][dead link][7]

Organization

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BowFlex, is the maker of fitness equipment brands BowFlex, Schwinn, and JRNY, its adaptive fitness platform.[6][7]

James “Jim” Barr IV, was named CEO in July 2019.[8] The company's executive leadership team also includes[9] Aina Konold (Chief Financial Officer), Becky Alseth (Chief Marketing Officer), Chris Quatrochi (Chief Product Officer), John Goelz (Chief Operating Officer), and Alan Chan (Chief Legal & People Officer).

In 2015, the company opened a new building across from its headquarters in Vancouver, Washington, United States for its development and research teams. The company also has offices in China and Rotterdam and distribution centers in Portland, Oregon and Columbus, Ohio.[10]

History

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Nautilus, Inc. originated in 1986 with the sale of most of the company by the inventor of Nautilus machines, Arthur Jones.[11] Jones created the Nautilus machine, then called the Blue Monster, in the late 1960s, with the purpose of developing a fitness machine that accommodates human movement.[11] The company's name was changed to Nautilus because the logarithmic-spiral cam, which made the machine a success, resembled a nautilus.[11]

BowFlex acquired Nautilus, Inc. and specialized in designing, developing and marketing strength and cardio fitness products.[6][dead link] In 1998, the company changed its name to Direct Focus and acquired the Nautilus, Schwinn and StairMaster brands between 1999 and 2002, before eventually changing its name to Nautilus, Inc. in 2005.[6][dead link] Nautilus became a publicly traded company on the U.S. stock exchange in May 1999.[12]

The company stopped selling exercise equipment to gyms in 2011 and shifted its focus to home-use equipment. The same year, Nautilus. licensed its brand name and technology to other manufacturers.[6][dead link]

In 2004, Nautilus was sued by Biosig Instruments for allegedly infringing its design for heart-rate monitors.[13] The case eventually reached the United States Supreme Court, who used it to establish reasonable certainty as the standard for judging whether or not a patent claim is indefinite.[13]

Nautilus acquired Octane Fitness, LLC from private equity firm North Castle Partners on December 31, 2015.[14]

The company was recognized by The Oregonian as one of the top places to work,[15][16][17] as well as the company with the healthiest employees of Oregon by the Portland Business Journal, in its 100-499 employee category.[18][19]

Nautilus has been awarded as an American Heart Association Fit-Friendly company.[20][21]

On November 1, 2023, Nautilus, Inc. changed its name to BowFlex, Inc.[22]

On March 5, 2024, BowFlex filed for bankruptcy.[23]

Brands and products

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The BowFlex Inc. portfolio includes global fitness equipment brands BowFlex, Schwinn Fitness, and JRNY.[24]

BowFlex

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Main article: Bowflex

BowFlex is the brand name for cardio and strength fitness training equipment.[25][12] The first BowFlex product, BowFlex 2000X home gym, was created in 1986.[12] BowFlex products now range from cardio machines,[26] to adjustable dumbbells [27] and home gyms.[28] The BowFlex brand includes the BowFlex Max Trainer,[18] the SelectTech Adjustable dumbbells[29] for strength training, and BowFlex Xtreme 2 home gym[30] and BowFlex Revolution home gym.[31] The brand also makes treadmills, elliptical machines, and indoor cycling bikes.[32]

Schwinn

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Main article: Schwinn

The Schwinn brand includes cardio products.

In addition to upright and indoor cycling bikes, the Schwinn brand also includes treadmills [33] and rowing machines,[34] as well as the vintage styled Schwinn Classic Cruiser [35][36] bike with a digital app.

JRNY

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The JRNY adaptive fitness membership[24] offers cardio, strength and whole-body workouts.

See also

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References

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  1. ^ a b c d e "Nautilus, Inc. (NLS) Income Statement - Yahoo Finance".
  2. ^ "Nautilus, Inc. (NLS) Company Profile & Facts - Yahoo Finance".
  3. ^ New York Times
  4. ^ "Nautilus, Inc. Rebrands as BowFlex Inc". www.businesswire.com. 2023-11-01. Retrieved 2023-12-06.
  5. ^ "Nasdaq -- BowFlex Inc. Common Stock (BFX)". Nasdaq.
  6. ^ a b c d e Coral Garnick, The Seattle Times."Nautilus Flexes its Muscle." June 11, 2014. Retrieved January 27, 2015.
  7. ^ a b Teresa Hartford, SGB Media. "Nautilus Unlocks New Equipment Categories." Sep 28, 2016. Retrieved Oct 26, 2016.
  8. ^ "New CEO to lead Nautilus into 'next era'". The Columbian. 2019-07-10. Retrieved 2019-08-03.
  9. ^ "Leadership Team". BowFlex Inc. Retrieved 2023-12-06.
  10. ^ Brian R. Ball, Columbus Business Journal. "Nautilus picks Central Ohio for distribution center serving eastern U.S." Jul 29, 2014. Retrieved Nov 13, 2018.
  11. ^ a b c Andrew Martin, The New York Times. “Arthur Jones, 80, Exercise Machine Inventor, Dies.” August 30, 2014. July 21, 2014.
  12. ^ a b c Nathan Gotch, Street Articles. "The Only Bowflex Review You Need." May 20, 2013. December 18, 2013.
  13. ^ a b The Oregonian. "Supreme Court rules for Nautilus in patent case." June 11, 2014. July 22, 2014.
  14. ^ Austen Hufford, Wall Street Journal. "Bowflex Maker Nautilus Buys Octane Fitness for $115 Million." Jan 4, 2016. Retrieved Nov 13, 2018.
  15. ^ The Oregonian. "Top Work Places." N/A. June 16, 2014.
  16. ^ Scott Nelsen, The Oregonian. “The more fulfilling the work, the more employees want to stay: Top Workplaces 2014.” Sept. 10, 2014. Sept. 11, 2014.
  17. ^ The Oregonian. "A look at the Top 40 midsize companies in Oregon, SW Washington." Sep 28, 2017. Retrieved Nov 13, 2018.
  18. ^ a b Portland Business Journal.“Gallery: Healthiest Employers celebrated at awards luncheon.” October 16, 2013. June 11, 2014.
  19. ^ Andy Giegerich, Portland Business Journal. "Introducing Oregon's Healthiest Employers for 2018." Aug 16, 2018. Retrieved Nov 13, 2018.
  20. ^ American Heart Association. “Fit-Friendly Worksite Platinum Award Recognition.” January 31, 2013. June 16, 2014.
  21. ^ Rebecca Fancher, Jeff Bunch and Leah Fisher, The Columbian. "Wellness summit gives Nautilus program boost." August 26, 2013. June 17, 2014.
  22. ^ "Nautilus, Inc. Rebrands as BowFlex Inc". www.businesswire.com. 2023-11-01. Retrieved 2023-12-07.
  23. ^ https://www.cnn.com/2024/03/05/business/bowflex-bankruptcy/index.html [bare URL]
  24. ^ a b "Our Brands". BowFlex Inc. Retrieved 2023-12-07.
  25. ^ Staff, Portland Business Journal. "Executive Profile - Bruce M. Cazenave." February 8, 2013. Retrieved November 27, 2018.
  26. ^ Mark Barroso, Men's Fitness. "Nautilus Launches New Fitness Products." September 13, 2013. Retrieved November 27, 2018.
  27. ^ Mark Barroso, Men's Fitness. "The At-Home Arm Workout." September 13, 2013. Retrieved November 27, 2018.
  28. ^ The Review Crew, Review Board Magazine. "Bowflex Xtreme2 Home Gym Review." April 15, 2010. Retrieved November 27, 2018.
  29. ^ Mark Barroso, Men's Fitness. “The At-Home Arm Workout.” November 12, 2013. June 16, 2014.
  30. ^ Home Gym Partner. “Bowflex Xtreme 2 SE Home Gym Review: the best Power Rod Home Gym yet.” N/A. June 16, 2014.
  31. ^ Home Gym Partner. “Bowflex Revolution Home Gym Review: resistance innovation for the future of strength training.” N/A. June 16, 2014.
  32. ^ Staff, SGBOnline. "Nautilus Seeing Healthy Response To Bowflex Treadmills." Mar 6, 2018. Retrieved Nov 27, 2018.
  33. ^ Staff, TopFitnessMag. "Schwinn 830 Treadmill Review." Nov 28, 2018. Retrieved Nov 28, 2018.
  34. ^ Staff, Exercise Review Site. "Schwinn Crewmaster Rowing Machine Review." Nov 28, 2018. Retrieved Nov 28, 2018.
  35. ^ Laura William, VeryWellFit. "Alternative Fitness Equipment Reviews to Makeover Your Home Gym." Mar 31, 2018. Retrieved Nov 28, 2018.
  36. ^ Rachel Weingarten, Parade. "You Asked: Early Spring Workout Gear & Inspiration." Feb 22, 2018. Retrieved Nov 28, 2018.
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