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Thread: Fender buys Gretsch

  1. #1
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    Fender buys Gretsch

    FOR IMMEDIATE RELEASE
    August 19, 2002

    FENDER® & GRETSCH® JOIN FORCES

    Iconic Companies Ink Deal,
    Take Gretsch To Global Level


    SCOTTSDALE, AZ - 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 Gretsch’s line of parts and accessories. Development of future new products, including Gretsch branded amplifiers, is also a part of the deal.

    Citing FMIC’s 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 FMIC’s 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, “Our goal as a family business has always been to enjoy a steady growth as a company without sacrificing our ideals. Today’s 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. That’s Fender.”

    Beginning January 1, 2003, FMIC will take over existing Gretsch inventory and they will begin to market and distribute the product to FMIC’s 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 Company’s 120-year heritage. He will also consult on product development and quality control, and he will continue to be an active part of Gretsch’s artist relations.

    “These are very thrilling times for both Fender and Gretsch,” says Bill Schultz. “We are very much looking forward to working on expanding Gretsch’s 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. #2
    Forum Member Riscchip's Avatar
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    Well, that's interesting news.

    Now, I don't know too much about new Gretsch guitars, but aren't they all made overseas? It would be nice to see them made in the states--maybe Fender will arrange that for some of them. Even cooler would be some models produced in the Fender custom shop--the way some of the recent Guild bluesbirds have been.
    --Carson

    http://www.riscchip.com

  3. #3
    Forum Member professor's Avatar
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    I think it can only help things for Gretsch...!
    Regards, Dave Orban

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    I am a die hard Fender fan but.....................

    They couldn't keep the Guild or Sunn names going. What makes them think they can do better with Gretsche?

    I think they would be better off concentrating on Fender products only. I have never been in favor of them branching out to other names.

    Tim C.

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    Forum Member Black Bear's Avatar
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    Originally posted by Tim C.
    I am a die hard Fender fan but.....................

    They couldn't keep the Guild or Sunn names going. What makes them think they can do better with Gretsche?

    I think they would be better off concentrating on Fender products only. I have never been in favor of them branching out to other names.

    Tim C.
    Bingo. Ahhh the corporate dance continues...
    Jason
    The Bear Guy

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  7. #7
    Forum Member Ashcaster's Avatar
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    Originally posted by Tim C.
    I am a die hard Fender fan but.....................

    They couldn't keep the Guild or Sunn names going. What makes them think they can do better with Gretsche?

    I think they would be better off concentrating on Fender products only. I have never been in favor of them branching out to other names.

    Tim C.
    I think Fender bought Guild so they could compete in that archtop, glued-in neck, humbucker-equipped market segment (i.e. compete directly with Gibson). Fact is, the Guild brand name just doesn't have much cache among us snobby, brand-conscious guitar players. Gretsch, on the other hand, is a much stronger brand. I don't think you can blame Guild's lack of success under Fender on poor products or poor marketing. It's just most guys want a hollow-body guitar that says "Gretsch" or "Gibson" on the headstock and most want a solid body humbucker guitar that says "Gibson."

  8. #8
    Forum Member ShawnRT's Avatar
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    I really like Gretsch guitars, I hope that despite our inherent pessimism when hearing this news that it helps get more USA made Gretschs out there in stores to be bought and played. Hopefully they can keep the quality high and help the availability problems.

  9. #9
    Forum Member Mr. Z's Avatar
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    I really like Gretsch guitars as well but the new ones do have QC issues, namely in the electronics department (namely cheap pots, switches, and ceramic pickups). I hope Fender can resolve this issue with them.
    I also hope Fender can aid in Gretsch's customer service, or lack thereof.

  10. #10
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    Fender hasn't actually bought the company, just the rights to some product lines such as guitars and amps(!?). Kaman will continue to make and distribute Gretsch Drums, and Gretsch will continue to be a family business, although the business is now more about branding than manufacturing.

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    "Give us your tired; your hungry; your poor..."

    Does this mean TFF will soon be taking on GDP refugees, too?!

    Seriously, I've owned 5 or 6 Gretsch guitars; from a '57 Clipper to a '99 Keith Scott Nashville. I currently have just one, a late '60 Double Annie, which is a wonderful player!

    I, too, hope Fender can positively affect the pervasive QC problems on the current Japanese Gretsch product. Sure is pathetic when one spends $2000 on a guitar only to watch it crash to the floor when the shoulder strap knob falls out. :wah
    Last edited by Preztone; 08-19-2002 at 01:43 PM.

  12. #12
    Forum Member jim in texas's Avatar
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    Are you by chance the "Prez" that was at the Gretsch Pages?
    You can never have too
    much music in your life.

  13. #13
    Forum Member Doug H's Avatar
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    Hmmm..... The problem I've had with recent Gretsches is they're made overseas, yet go for US made $$$. Thus my complete lack of interest.

  14. #14
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    Originally posted by jim in texas
    Are you by chance the "Prez" that was at the Gretsch Pages?
    Hi, Jim;

    Well...who wants to know? :lol2

    Yes; in fact, I still am over there, from time to time (just posted last night). Sold off all but one Gretsch git. Am a Fender/Gibson guy, first.

    How's it hanging?

  15. #15
    Forum Member jim in texas's Avatar
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    hadn't heard from you in a while Prez. Glad to see that you're doing ok.
    You can never have too
    much music in your life.

  16. #16
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    See???
    Leo changing the name of the Broadcaster at Gretsch's request in 1950 paid off!!

    The Gretsch buildings are still standing with the names on them in Brooklyn on the water across from Manhattan.
    I volunteer to help move back in!!!!
    Strats and Mustangs and Coronados...OH MY!

  17. #17
    Forum Member Jimi D's Avatar
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    If this results in a USA Duo Jet reissue, I'll be very, very pleased. I owned a Japanese Duo Jet reissue until this morning, and I wasn't terribly happy with it - especially for the money; the same $$$$ buys you a whole lot more guitar in a Fender or Gibson.

    Nitro finished Duo Jet reissue with the small headstock, bigsby, TV Jones or quality Fender USA reissue pups and a nitro finish will get my $$$$ :yay
    He's hot! He's hip! and he's hairy!

  18. #18
    Forum Member Guildx700~'s Avatar
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    Personally I want a white Penguin!

  19. #19
    Forum Member Mr. Z's Avatar
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    Originally posted by Guildx700~
    Personally I want a white Penguin!

    I'd like a White Penguin too. It would have to be left handed, though(!) Gretsch actually offered a White Penguin reissue few years back which was pretty close cosmetically--vertical headstock logo, dearmonds, humpblock inlays, cadillac G tailpiece. Sadly it is no longer available and the ones floating around command serious coinage.

  20. #20
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    As an owner of a current Gretsch 6120 I am glad to hear the news. I must have played at least a dozen 6120's last year until I found one that I felt was acceptable to purchase. The electronics of current Gretsch's are sub par and customer service is almost non-existant. The lack of a USA made line is also a huge opportunity that is currently being missed out on by Gretsch.

    That said the Gretsch family are great people, but I just don't think they are capable of handling the duties of a large guitar company as well as Fender will. Gretsch is a strong brand and I hope it will fare well under Fender guidance. I am also excited about a USA line which I am sure will follow with Fender at the helm.

    I just hope Fender doesn't screw up what could be a huge opportunity.
    Last edited by OneL; 08-19-2002 at 07:43 PM.

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    Like Fenderaddict stated after the intial post, Fender did not buy Gretsch. They will be able to make Gretsch guitars, but have no ownership over any of the names or patents. This is kind of important to keep in mind.
    Last edited by Jim Shine; 08-19-2002 at 08:01 PM.

  22. #22
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    Originally posted by Jim Shine
    Like Fenderaddict stated after the intial post, Fender did not buy Gretsch. They will be able to make Gretsch guitars, but have no ownership over any of the names or patents. This is kind of important to keep in mind.
    Agreed but I'm sure for the coin that Fender probably had to fork over, they are going to have a huge amount of influence on the direction of things.

  23. #23
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    I don't own any Gretch Guitars but I would love to. This is a great move for Fender. Should be cool.

    With the way things are going there will only be 2 guitar companys on the planet again.........Fender & Gibson........and Gibson better watch it's back.

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