The account, estimated at $4-5 million in spending, has been handled by Frank C. Nahser/Chicago. Schwinn spent just under $1 million in 1992 according to LNA.
Last week Huffy Corp., Miamisburg, Ohio, placed its $2-3 million account, now at Lois U.S.A./Chicago, in review.
Schwinn has talked to several agencies in the Midwest and emphasized the review is closed.
'We will not consider any other agencies,' said Paul Chess, Schwinn marketing communications manager. 'We have narrowed our search and have an agency in mind. We should be able to make an announcment very shortly.'
The nearly 100-year-old Schwinn filed for bankruptcy protection last October and emerged from bankruptcy in January with new owners and a new president/coo, Ralph Murray. Sources said last week the company's plans are aggressive and executives are looking in 1993 to double Schwinn's current market share, which is about 8 percent.
Bicycling is a $3.2 billion business in the U.S. Domestic manufacturers have faced increased competition from foreign competitors and U.S. upstart companies focusing on specialty categories.
Copyright Adweek L.P. (1993)