Case 60 Fox Factory

B. Rajesh Kumar
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B. Rajesh Kumar: Institute of Management Technology

A chapter in Rising Stars, 2024, pp 451-457 from Springer

Abstract: Abstract Fox Factory Holding Corp. incorporated in Delaware in 2007 is the holding company of Fox Factory which designs and manufactures products and systems that are used on bicycles, trucks all-terrain vehicles (ATVs), snowmobiles, Specialty vehicles, motorcycles, and commercial trucks. Fox Factory, Inc., the operating subsidiary, was incorporated in California in 1978. Some of the products are specifically designed for leading cycling and powered vehicle original equipment manufacturers and the rest of the products are distributed to consumers through a global network of dealers and distributors. The stock is traded on the Nasdaq Global Select Market under the symbol “FOXF.” Fox Factory operates in over 20 global locations with state-of-the-art manufacturing facilities, R&D technology centers, administrative offices, and customer support centers. The products of the company are technologically advanced products and offer innovative design, performance, durability, and reliability. The OEM customers of the company include Giant, Merida, Orbea, Kemstone Metal, Canyon Bicycles, Santa Cruz Bicycles, and Yeti Cycles under Specialty Sports segment. In the Powered Vehicles segment BRP, Ford, Polaris, Toyota, 4 Wheel Parts, Kawasaki, Yamaha, and Honda are the major customers of the company. Fox’s products for bicycles are basically used for mountain bikes, road bikes, and e-bikes. The products for powered vehicles are used side by side, on-road and off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles, military vehicles, motorcycles, and commercial trucks. The company offers premium-priced products which are well-designed and performance-focused equipment. By December 2021, the company had employed approximately 4100 employees in the United States, Canada, Europe, Taiwan, and Australia. The total cumulative monthly return for Fox stock was 197% compared to 51% returns accounted for the market index S&P 500 during the 5-year period April 2018–March 2023.

Date: 2024
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DOI: 10.1007/978-3-031-50032-9_60

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