FOCUS – Polaris, Lehman Trike Strike Deal
March 16, 2005
Filed under Features
Polaris Industries Inc., Medina, Minn., manufacturer and distributor of the fast-growing Victory Motorcycles brand, announced at the Dealer Expo that it has established a relationship through which Lehman Trikes, Inc. will development, manufacture and sell Lehman branded three-wheeled motorcycles using Victory product platforms.
“Our research shows that there is a sizable and growing market demand for trikes, and we feel that a relationship with Lehman is a great way to get our brand in front of an entirely new group of consumers<' said Victory Motorcycles General Manager Mark Blackwell. “Victory has a history of only partnering with market leaders, and Lehman clearly fits that bill in the Trike business.” This agreement marks the first entry of a major motorcycle manufacturer into the sphere of the heavy, on-highway, trike market in over 30 years. It will make the Victory-based Lehman Trike the only factory-supported Trike in the market today. Polaris will license to Lehman certain proprietary technical information to be used for the development of the new Victory-based Lehman trike. Lehman will be responsible for the assembly of Victory-based product, which will incorporate the use of the Victory accessories in the program. Then, Victory and Lehman will jointly market new models of Lehman Trikes through their respective dealer networks and will share responsibilities for dealer training and customer support. Lehman was one of the companies that opted to forego the Dealer Expo in Indianapolis for a spot at the earlier V-twin Expo in Cincinnati. “As we’re looking to take the Lehman Trikes brand and product line to the next level, we want to partner with only the best in the motorcycle industry,” Larry Strilchuk, president and chief executive officer of Lehman, said in a prepared statement. “As the trike market moves into the mainstream, our consumers are asking us for more modern, more custom-looking and more technologically advanced V-Twin trikes, and Victory is a brand that is designing, engineering and manufacturing a platform that can really help us deliver. “Victory also brings Polaris’ 50-year history of state-of-the-art product development and testing experience, as well as state-of-the-art manufacturing facilities and processes to the relationship. We believe Lehman’s overall design and engineering processes will be significantly improved as a result of Victory’s assistance and advice.”