Icon Health and Fitness

Portland, OR: (Jul-16-07) Nautilus Inc. filed a lawsuit against Utah-based Icon Health and Fitness, over retail and direct channels, especially within the home exercise gym segment. In a settlement reached, Icon Health and Fitness agreed to a cash payout of $18.3 million to resolve litigation. Nautilus stated that its slowing home starts and sales were the result of a flattening credit environment and the cost of gas, which seems to have hurt consumer spending. One of its strategies in improving its position in the softer consumer market is to discontinue relationships with retailers that undercut sales on the Internet, creating a confusing pricing environment for consumers. The dispute with Icon Health seemed centered on this marketing strategy. To this end, the company unveiled four new products, including a home gym and a new stair step product. It also intends to re-launch its famed Universal brand before the end of 2007. [PORTLAND BUSINESS JOURNAL: HOME GYM]

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Published on Jul-18-07