Fender & Gretsch Join Forces!
Fender
Posted 2002-08-20
Fender Musical Instruments Corporation (FMIC) and Fred
Gretsch Enterprises, Ltd. (Gretsch) proudly announce today that the two
companies have entered into an agreement wherein FMIC has been granted the
exclusive rights to develop, produce, market and distribute Gretsch guitars
worldwide.
As part of the deal, which is effective as of January 1, 2003, FMIC will be
responsible for all aspects of the Gretsch stringed instrument product lines
and brand names, including Gretsch® guitars and basses, Synchromatic®
guitars, Electromatic® guitars and Gretsch¹s line of parts and accessories.
Development of future new products, including Gretsch branded amplifiers, is
also a part of the deal.
Citing FMIC¹s success in worldwide sales, marketing and distribution as the
reason for which it was considered a viable company to approach, Gretsch
looks to expand its brand name awareness and market share with the help of
FMIC¹s established assets.
FMIC Chairman & CEO Bill Schultz, and Gretsch President Fred Gretsch, have
also had a long term mutual respect for one and other, and the decision to
work together in expanding the reach of Gretsch products to a global level
is a perfect fit for these two iconic manufacturers.
Explains Fred Gretsch, ³Our goal as a family business has always been to
enjoy a steady growth as a company without sacrificing our ideals. Today¹s
Fender shares that same belief, and the Gretsch name deserves the benefit of
working with a company that will help achieve our goals while maintaining
our long time standards of quality and integrity. That¹s Fender.²
Beginning January 1, 2003, FMIC will take over existing Gretsch inventory
and they will begin to market and distribute the product to FMIC¹s worldwide
network of retailers and distributors.
Fred Gretsch has entered into a consulting agreement in which he will work
with FMIC throughout the changeover, helping to create a smooth business
transition and to ensure the integrity of The Gretsch Guitar Company¹s
120-year heritage. He will also consult on product development and quality
control, and he will continue to be an active part of Gretsch¹s artist
relations.
³These are very thrilling times for both Fender and Gretsch,² says Bill
Schultz. ³We are very much looking forward to working on expanding
Gretsch¹s reach around the world, and we are all excited that this will lead
the way to the possibility of more American-made products in the future.²
About Fender Musical Instruments Corporation
Fender Musical Instruments Corporation (FMIC) is the world¹s foremost
manufacturer of guitars, amplifiers, and related equipment. Since 1946, the
name Fender has become synonymous with all things rock Œn¹ roll: from Buddy
Holly to Jimi Hendrix to Eric Clapton to Kurt Cobain and everything in
between. Fender¹s iconic instruments such Telecaster®, Stratocaster®,
Precision Bass® and Jazz Bass® are known the world over as the instruments
that started the rock revolution, and they continue to be highly prized
among today¹s guitarists and collectors alike. Corporate headquarters are
located in Scottsdale, AZ, with manufacturing headquarters and the
world-renowned Fender Custom Shop in Corona, CA. FMIC markets using the
brand names Fender®, Squier®, Guild®, Benedetto®, Floyd Rose, and
Rodriguez®. For more information, contact Fender Musical Instruments
Corporation, 8860 East Chaparral Road, Suite 100, Scottsdale, AZ 85250,
480.596.9690, or visit our Web site at www.fender.com.
About Fred W. Gretsch Enterprises, Ltd.
The Gretsch family has been making fine musical instruments since 1883 and
is now in the fourth generation of family ownership. For most of that time,
Gretsch has designed and built some of the most appreciated and renowned
guitars ever, from its acoustics and archtops of the 1930s and Œ40s, to its
groundbreaking electric guitars of the Œ50s and Œ60s. Today, Fred W.
Gretsch Enterprises, Ltd markets their products under the brand names
Gretsch®, Synchromatic®, Electromatic® and Bigsby®. For more information,
please contact The Gretsch Guitar Company at PO Box2468, Savannah, Georgia
31402, or visit www.gretsch.com.
