Not Just The World's Tallest Mountain
K2 is the second-highest mountain on Earth. It is located in the Karakoram segment of the Himalayan range, on the border between the Gilgit-Baltistan region of the Pakistan administered Northern Areas and the Taxkorgan Tajik Autonomous County of Xinjiang, China.
Which is all good and fine, but now let's talk K2 snowboards, boots and bindings!
K2 Inc. (NYSE: KTO) was founded in 1961 by brothers Bill and Don Kirschner in Vashon Island, near Seattle, Washington. K2 is known for pioneering fiberglass ski technology. On June 22, 2006, K2 announced it was moving its business office from Vashon Island to Seattle's Industrial District. (Manufacturing moved to China in 2001.) On April 25th, 2007 Jarden Corporation announced a definitive agreement to acquire K2, Inc. for a cash and stock value per share of $15.50.
And so there you go, another story of corporate takeover. But here's how K2 got started.
The legend began in the days following World War II, when the Kirschner family was doing business on Vashon Island. Kirschner Manufacturing produced splints and animal cages utilizing reinforced plastic. They became a leading manufacturer of specialized research cages, but the Kirschners were always looking for new products to build.
In 1961, using a pair of borrowed skis as a pattern, Bill Kirschner made a pair of fiberglass skis. They worked so well that he considered producing them commercially. He took his concept to Anderson & Thompson Ski Company, a Seattle-based distributor of ski equipment, and his "concept" came to life becoming the bare essentials of what K2 is today.
Within another year, K2 was selling 21,000 pairs of skis and the company's small payroll had grown from a single machinist to 83 employees. K2 separated from Anderson & Thompson and began to establish its own distribution and marketing channels, and a new marketing direction to make not only intermediate skis, but to develop a world class racing ski as well.
Started in 1988, snowboarding is a strong, more recent growth category for K2. K2 has become the most successful ski company involved in the snowboard. In addition, they pioneered the variable width theory with the release of the Fatbob board.
K2 Skis was #1 in the U.S. in terms of market share (profitability and dealer confidence) in the 1996/1997 season. K2 Snowboards continued to rank in the top five brands in U.S. snowboard sales volume, and K2 In-Line Skates has consistently improved their market share from its introduction to place in the top three brands.
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