Icon Health & Fitness, Inc. (styled ICON Health & Fitness) is an exercise equipment manufacturer and marketer based in Logan, Utah, United States.
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Company overview
ICON Health and Fitness is the world's largest manufacturer of exercise equipment. The privately held company employs about 2500 people in 9 locations, including facilities in China, Europe, and North and South America. The company manufactures treadmills, elliptical trainers, stationary bicycles, weight machines and benches, and yoga and Pilates equipment. ICON is ISO 9000 certified, and holds about 250 patents.
Brands
ICON Health & Fitness has a wide range of brands, products and technologies, including the brands NordicTrack, ProForm, Weider, Gold's Gym and FreeMotion Fitness. Their fitness technology brand, including WiFi-enabled fitness equipment and fitness wearables, is iFit. The company also has a running and trail shoe brand named Altra footwear.
Under a license agreement with Gold's Gym, ICON Health & Fitness designs, manufactures, markets and sells a full line of fitness equipment under the Gold's Gym brand name.
In 2016, Golf Digest named the Free Motion Fitness Dual Cable Cross as the best universal fitness equipment in their Editor's Choice award.
Legal History
ICON Health & Fitness was central to a United States Supreme Court case regarding frivolous lawsuits and fee shifting. ICON Health & Fitness had sued Octane Fitness in 2009 alleging patent infringement. Octane was granted a summary judgement stating its designs did not infringe, and asked to be reimbursement for attorneys' fees. Ultimately, the Supreme Court held that Octane deserved reimbursement of its legal fees. ICON was held liable for $1.6 million in fees by the district court, which was later upheld on appeal.
History
1970s - 1980s
In 1977, Utah State University students Scott Watterson and Gary E. Stevenson founded Weslo, Inc., a company that imported Asian kitchen and tableware, along with marble products. In 1979, Weslo began selling wood-burning stoves under the Fire King brand. In the 1980s, they began manufacturing trampolines, and then, under the name ProForm Fitness Products, treadmills, exercise bikes, indoor rowers, and home gyms.
In 1988, Weider Health and Fitness acquired Weslo and ProForm, and in 1990, moved them into the current 300,000 square feet (28,000 m2) headquarters in Logan.
1990s
In 1994, Weider sold ProForm and Weslo, along with Weider Care, to IHF Capital Inc, a group led by Mitt Romney's Bain Capital, in a deal equaling US$450 million. The companies were renamed ICON Health and Fitness, Inc.
ICON acquired HealthRider in 1996, NordicTrack in 1999, and FreeMotion Fitness, Inc in 2001.
2010s
In late October 2015, manufacturing activities at the Logan, Utah facility were moved offshore. This resulted in the laying off of more than four hundred workers.
The former manufacturing space will now become a television studio to make advertisements, a showroom, and engineering and innovation offices. Some of the manufacturing jobs are now being replaced with industrial design, marketing, engineering and computer programming positions.
Source of the article : Wikipedia
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