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The coronavirus pandemic and national lockdowns spurred a much-needed revival of the guitar business.
Fender had been on track to post robust 2020 sales, but in March it had to idle its factories in the US and Mexico.
Unexpectedly, demand for guitars skyrocketed, and now CEO Andy Mooney figures this year could set a record for sales.
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Fender CEO Andy Mooney didn’t mince words when he told Business Insider how bad he thought things could get when the coronavirus pandemic forced the company to shut down US and Mexico manufacturing operations in March.”We were looking over the edge of an abyss,” he said.Fender has been around for over 70 years and has endured plenty of ups and downs. Mooney has been running the guitar-making icon — famous for its Stratocaster and Telecaster electric models, as well as a host of legendary amplifiers — since 2015, after stints at Nike and the Walt Disney Company. Under his leadership, the firm was enjoying an up period, until the beginning of 2020: 2019 sales amounted to $600 million and defied the notion that the guitar was in its death throes. “Through March, we were ahead of plan,” he said.
But the coronavirus …
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