The first product under an Ironman license for fitness equipment newly acquired by Kevin Lamar has debuted this month at Costco – an indoor cycle called the Ironman Summit.
Lamar, former vice president of retail at Star Trac, nabbed the license after licensor World Triathlon Corp. and financially beleaguered Star Trac went separate ways over the summer. A promise by Star Trac in June 2010 to maintain its partnerships despite heavy corporate restructuring and massive layoffs didn’t pan out. (Click here to see that June 10, 2010, SNEWS story.)
Lamar picked up the license on a pilot basis in September – an acquisition that will now continue into 2011, he told SNEWS.
“I’m going to continue to focus on growing and building the Ironman license,” he said. “I think the brand has a lot of potential.
“We’ll focus solely on the Ironman brand with different price points,” he said.
Working again with Al Cockrill, Lamar said he plans products differentiated by channel, branching into recumbent bikes, for example, although forward steps will be cautious as he grows the business into a wide variety of retail businesses.
The Costco product (MSRP $499) arrived in early December and will be at select stores into the first quarter.
“It helped us prove the Ironman brand still has a customer that’s very excited about it,” Lamar said.
The Ironman license for fitness equipment has had a hard-knock life recently. It became homeless in 2008 when licensee Keys Fitness went bankrupt after producing equipment under the brand since 2002. (Click here to see that Nov. 17, 2008, story.)
“I’m focused,” Lamar added, “on making this brand work in the fitness industry.”