Rolling Thunder

01 Dec 2006

Rolling Thunder

Re: Steve Heese (MBA 1988); Stephen Julius (MBA 1988)

Topics: Marketing-Product Launch Entertainment-General

Vrrooom…that’s the sound of the classic Indian brand motorcycle, revving up for a comeback. Founded in Springfield, Massachusetts, in 1901 — two years before Harley-Davidson — Indian held nearly half of U.S. market share for the next fifty years before falling on hard times and filing for bankruptcy. The brand retains a cultlike following of enthusiasts even after a second attempt to restart the company again resulted in bankruptcy, in 2003.

Behind the Indian kick-start are Stephen Heese (MBA ’88) and Stephen Julius (MBA ’88), who purchased Indian in 2004. Julius told the Financial Times (September 18, 2006) that he has spent two years drawing up a business plan to avoid “past mistakes.” The two men are partners in London-based Stellican Ltd., a private-equity firm that specializes in the revival of heritage brands, mainly in the recreational-products area. Stellican has restored elegance and prestige to Chris-Craft boats (purchased in 2000) and intends to do the same with the Indian in the premium motorcycle market. Plans are set for Indian Chief heavyweight cruiser motorcycles to roll out of a plant in North Carolina by the end of next year. Thousands of Indian aficionados can hardly wait.