Michael Edison..

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  • Topic: Lockheed Martin, Bear Stearns, Marketing
  • Pages : 2 (640 words )
  • Download(s) : 514
  • Published : April 29, 2011
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Camelbak was founded by Michael Edison in Texas in 1989. He invented a hands free drinking system because he felt that something as simple as reaching for bottles during races risked collisions. His timing was auspicious. Marathons, mountain biking and extreme sports created a market in waiting. Then years later Chuck Hunter an avid cyclist so impressed with Edison’s invention quit his job at Lockheed Martin Corp. To join the company that made the backpack-canteen, Camelbak products LLC. The small firm back then had a devoted clientele of mountain bikers and counterculture types. From here they emerged into a different type of market where their clients ranged from the Government, Military to Industrial businesses. Hence turning the company into a global leader in hydration systems. In 1999 CamelBak launched a military line of products and moved to California’s Sonoma County, here it setup a research center to develop products that could meet the Pentagon’s exciting standards. Military products have become Camelbak’s dominant business. Feedback from the soldiers has been as important as lab tests in molding products. Camelbak then worked with another company Dupont Co. and a few other companies to develop backpack material, buckles and straps that reduce infrared detection. In 2003, Bear Stearns Co, a New York Investment Banker bought Camelbak for more than $200 million. Camelbak has a lot of challengers in the civilian market, like Jan sport and North face brands. After branching out from cycling into running, skiing and hiking packs they recently launched products for children, women and hunting that include tapered packs of soft materials and is counting on its brand recognition to brush off competitors. Industrial workers are Camelbaks next target market. It took a lot of conviction, imagination and courage to evolve from an IV bag in a tube sock. Their core values still remain the same and drive everything from inventing the hydration category to becoming...
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