The Canadian manufacturer, Race Face Performance Products, emerged from receivership less than two months after the future of the iconic brand was thrown into uncertainty.It was announced on March 12, 2011, that after 18 years of business, Race Face would be entering receivership with many accusations circling of mismanagement by the then CEO, Craig Pollack.
The Race Face website remained unchanged, but their products started cropping up all over the internet retailers in the clearance and ‘specials’ pages. It seemed from the outside that it was the end for Race Face or worse – it would be sold to a company who then produce all of the products overseas… see Control Tech, American Classic, Cannondale, Schwinn, GT, etc.
Thankfully, on May 9th, after a bidding war, it was announced that Race Face was reopening at their original location and being headed by the former Vice President of Sales, Chris Tutton. Before taking the helm of the new Race Face, Chris was over at Easton Bell Sports as the Director of OEM Sales. Prior to his three years at Easton Bell Sports, he was with Race Face since 1994. Before he originally left Race Face in 2008, Chris was instrumental in pushing Race Face to over $15 million in annual sales mark. “I have always believed in the Race Face brand and in the quality of the products we make,” said Tutton. “We will build upon a very solid foundation and continue to meet the needs of our current customers, while expanding our market and focusing our product line.”
Chris Tutton is joined by Derek Wills, Race Face’s former Global Operations manager and most recently North American Sales and Business development Manager, has also returned as a junior partner. “This is fantastic news,” said Darren Mabbott, Managing Director of Silverfish, Race Face’s UK distributor. “I was always confident that a buyer would be found for Race Face, but to hear that Chris Tutton has bought Race Face is a huge boost to the brand. I have known Chris and worked with him for over 12 years. He is passionate about Race Face, focuses on quality and innovation, and brings a high level of professionalism to the table. Race Face will thrive under Chris’ control, and the future once again looks bright.”
On May 10th, Rob Bohncke commented on Race Face’s blog, “The machine shop will be fired up again soon, as we will be proud to continue producing many of our market leading Race Face products right here in Canada.” The component product line for 2012 is complete, including the new Atlas FR Stealth line. Turbine 9 and 10 speed rings will ship almost immediately, as are Race Face’s carbon SIXC and NEXT cranks and bars. The company will continue to develop and refine their proprietary Optimized Carbon Technology in-house.
It will take a little bit of time for Race Face to get back into to game, but we are excited to see that they will remain at home in Canada.
[Via NSMB.com: Race Face Is Back]
Race Face Official Website