The company that owns and revived Chris-Craft boats and Outboard Motor Corporation has purchased the remains of the Indian Motorcycle Company, which shut its doors in September 2003. The new owner is Stellican Limited, a private equity firm headquartered in the UK that specializes in reviving ailing recreational product companies with strong brand names and also owns firms in unrelated industries like soft drinks and cash registers. It has a U.S. office in Florida. Because its principals supply their own capital, it is less likely to encounter the problems other would-be motorcycle makers have when more capital was required.

The company's specific plans for the brand have not been set, although it says it will produce Indian motorcycles in the U.S and wants to resume production "as soon as possible." It also says that its style is to be "long-term brand builders" and that it is "obsessed with product design and quality."

Though the company's announcement does not address it, the new company is unlikely to assume the warranty claims or other liabilities of the defunct Indian company. Its vow to resume production early indicates that it is likely to produce the existing models, at least initially.

Indian Motorcycle was founded in 1901 in Springfield, Massachusetts, two years before Harley-Davidson, and was a leader in the motorcycle industry for the next 50 years with a U.S. market share approaching 50%. The Indian motorcycle was the pride of the American road, enjoying an unmatched reputation for quality and innovation. In fact, motorcycle historians cite the Indian Chief as the originator of today's cruiser class motorcycle. In addition to playing an important role at home in America, the company played an important role in World War II by contributing over 40,000 motorcycles to the war effort. In 1953, the company filed for bankruptcy and, for the ensuing 45 years, the Indian brand was effectively dormant. It was not until 1998 that Indian Motorcycle was restarted by a series of investor groups. Unfortunately, however, their substantial efforts to make the company profitable ultimately failed. In September, 2003, Indian Motorcycle elected to be liquidated through an Assignment for the Benefit of Creditors process managed by CMA Business Credit Services in Burbank, California.

Indian represents the only true American-made heavyweight cruiser alternative to Harley-Davidson. With eleven models across three distinct platforms, namely the Scout, the Spirit and the famed Chief, Indian Motorcycle had an extraordinarily distinctive product range and classic style. The company also sold a comprehensive range of parts, accessories and apparel.

In 2002, the United States heavyweight cruiser market (over 900cc) exceeded $4 billion with over 230,000 units sold. The market recently has experienced double-digit growth rates with continued strong growth projected. The premium (+$12,000/unit) heavyweight cruiser market is considered to be the most profitable segment. This is where Indian Motorcycle competed by providing the only credible alternative to Harley-Davidson in terms of brand, heritage, style and American quality. Today, Indian has an extraordinary 94% aided brand awareness in the USA and enjoys a cult-like following among motorcycle enthusiasts and the population in general.

"I believe Indian remains among the most powerful brands in the U.S. motorcycle market, and we are delighted to own such an iconic American brand," commented Stephen Julius, an Anglo-Italian financier and founding Partner of Stellican Limited. "Our primary goal is to return Indian to its rightful position as a premium motorcycle brand, selling beautifully designed, high quality products and delivering world-class services. We will do so by carefully and thoughtfully developing the business from the ground up, guided by an overriding determination to remain true to the rich heritage of the Indian brand. We are long-term brand builders, obsessed with product design and quality. We have clearly demonstrated our ability to the world over the last three years with our re-launch of Chris-Craft boats, another business we own today and which we purchased out of the 2000 bankruptcy of Outboard Marine Corporation. We are confident we will repeat our success with Indian," added Mr. Julius.

Stellican Limited is an unusual private equity firm in that it specializes in acquiring and reviving distressed companies, almost all with heritage brands, mainly in the recreational products area. Even more unusually, its capital is provided by its own principals who actively manage its portfolio companies directly. Most recently, in addition to Chris-Craft boats, Stephen Julius, through Stellican Limited, acquired and turned around the iconic Italian yacht manufacturer, Riva, and the Italian Premier League soccer team, Vicenza.

Stellican will now begin the process of determining how best to re-position and re-launch the Indian brand, addressing such issues as where to manufacture in the USA, which engine technology to utilize, which dealers to appoint and when to re-start production. An enormous investment has already been made in product and engine development and Stellican is aware of the need to re-start production as soon as possible once its strategy has been clearly defined. In addition to world-class motorcycles, a key component of the future strategy will be an integrated approach to the parts, accessories and apparel business. Stellican will ensure all of Indian Motorcycle's many constituents - suppliers, dealers, current and future customers and the motorcycle and business media - are kept informed of its plans as they develop over the coming months. Stellican will arrange one-on-one interviews with media at the appropriate juncture.

"We are excited about this challenge and are confident Indian will live up to its great potential under our ownership. This is a tremendous opportunity to revive a great American brand and we intend to do exactly that," added David Wright, a Partner at Stellican.

Art Deco, short for the French Arts Décoratifs, and sometimes just called Deco, is a style of visual arts, architecture, and product design, that first appeared in France in the 1910s (just before World War I), and flourished in the United States and Europe during the 1920s and 1930s. Through styling and design of the exterior and interior of anything from large structures to small objects, including how people look (clothing, fashion and jewelry), Art Deco has influenced bridges, buildings (from skyscrapers to cinemas), ships, ocean liners, trains, cars, trucks, buses, furniture, and everyday objects like radios and vacuum cleaners.

It got its name after the 1925 Exposition internationale des arts décoratifs et industriels modernes (International Exhibition of Modern Decorative and Industrial Arts) held in Paris.

Art Deco combined modern styles with fine craftsmanship and rich materials. During its heyday, it represented luxury, glamour, exuberance, and faith in social and technological progress.

From its outset, Art Deco was influenced by the bold geometric forms of Cubism and the Vienna Secession; the bright colours of Fauvism and of the Ballets Russes; the updated craftsmanship of the furniture of the eras of Louis Philippe I and Louis XVI; and the exoticized styles of China, Japan, India, Persia, ancient Egypt and Maya art. It featured rare and expensive materials, such as ebony and ivory, and exquisite craftsmanship. The Empire State Building, Chrysler Building, and other skyscrapers of New York City built during the 1920s and 1930s are monuments to the style.

In the 1930s, during the Great Depression, Art Deco became more subdued. New materials arrived, including chrome plating, stainless steel and plastic. A sleeker form of the style, called Streamline Moderne, appeared in the 1930s, featuring curving forms and smooth, polished surfaces. Art Deco is one of the first truly international styles, but its dominance ended with the beginning of World War II and the rise of the strictly functional and unadorned styles of modern architecture and the International Style of architecture that followed.

Art Deco took its name, short for arts décoratifs, from the Exposition Internationale des Arts Décoratifs et Industriels Modernes held in Paris in 1925, though the diverse styles that characterised it had already appeared in Paris and Brussels before World War I.

Arts décoratifs was first used in France in 1858 in the Bulletin de la Société française de photographie. In 1868, the Le Figaro newspaper used the term objets d'art décoratifs for objects for stage scenery created for the Théâtre de l'Opéra. In 1875, furniture designers, textile, jewellers, glass-workers, and other craftsmen were officially given the status of artists by the French government. In response, the École royale gratuite de dessin (Royal Free School of Design), founded in 1766 under King Louis XVI to train artists and artisans in crafts relating to the fine arts, was renamed the École nationale des arts décoratifs (National School of Decorative Arts). It took its present name, ENSAD (École nationale supérieure des arts décoratifs), in 1927.

At the 1925 Exposition, architect Le Corbusier wrote a series of articles about the exhibition for his magazine L'Esprit Nouveau, under the title "1925 EXPO. ARTS. DÉCO.", which were combined into a book, L'art décoratif d'aujourd'hui (Decorative Art Today). The book was a spirited attack on the excesses of the colourful, lavish objects at the Exposition, and on the idea that practical objects such as furniture should not have any decoration at all; his conclusion was that "Modern decoration has no decoration".

The actual term art déco did not appear in print until 1966, in the title of the first modern exhibition on the subject, held by the Museum of Decorative Arts in Paris, Les Années 25 : Art déco, Bauhaus, Stijl, Esprit nouveau, which covered the variety of major styles in the 1920s and 1930s. The term was then used in a 1966 newspaper article by Hillary Gelson in The Times (London, 12 November), describing the different styles at the exhibit.

Art Deco gained currency as a broadly applied stylistic label in 1968 when historian Bevis Hillier published the first major academic book on it, Art Deco of the 20s and 30s. He noted that the term was already being used by art dealers, and cites The Times (2 November 1966) and an essay named Les Arts Déco in Elle magazine (November 1967) as examples. In 1971, he organized an exhibition at the Minneapolis Institute of Arts, which he details in his book The World of Art Deco.

The emergence of Art Deco was closely connected with the rise in status of decorative artists, who until late in the 19th century were considered simply as artisans. The term arts décoratifs had been invented in 1875, giving the designers of furniture, textiles, and other decoration official status. The Société des artistes décorateurs (Society of Decorative Artists), or SAD, was founded in 1901, and decorative artists were given the same rights of authorship as painters and sculptors. A similar movement developed in Italy. The first international exhibition devoted entirely to the decorative arts, the Esposizione Internazionale d'Arte Decorativa Moderna, was held in Turin in 1902. Several new magazines devoted to decorative arts were founded in Paris, including Arts et décoration and L'Art décoratif moderne. Decorative arts sections were introduced into the annual salons of the Sociéte des artistes français, and later in the Salon d'Automne. French nationalism also played a part in the resurgence of decorative arts, as French designers felt challenged by the increasing exports of less expensive German furnishings. In 1911, SAD proposed a major new international exposition of decorative arts in 1912. No copies of old styles would be permitted, only modern works. The exhibit was postponed until 1914; and then, because of the war, until 1925, when it gave its name to the whole family of styles known as "Déco".

Art Deco was not a single style, but a collection of different and sometimes contradictory styles. In architecture, Art Deco was the successor to and reaction against Art Nouveau, a style which flourished in Europe between 1895 and 1900, and also gradually replaced the Beaux-Arts and neoclassical that were predominant in European and American architecture. In 1905 Eugène Grasset wrote and published Méthode de Composition Ornementale, Éléments Rectilignes, in which he systematically explored the decorative (ornamental) aspects of geometric elements, forms, motifs and their variations, in contrast with (and as a departure from) the undulating Art Nouveau style of Hector Guimard, so popular in Paris a few years earlier. Grasset stressed the principle that various simple geometric shapes like triangles and squares are the basis of all compositional arrangements. The reinforced-concrete buildings of Auguste Perret and Henri Sauvage, and particularly the Théâtre des Champs-Élysées, offered a new form of construction and decoration which was copied worldwide.

In decoration, many different styles were borrowed and used by Art Deco. They included pre-modern art from around the world and observable at the Musée du Louvre, Musée de l'Homme and the Musée national des Arts d'Afrique et d'Océanie. There was also popular interest in archaeology due to excavations at Pompeii, Troy, and the tomb of the 18th dynasty Pharaoh Tutankhamun. Artists and designers integrated motifs from ancient Egypt, Africa, Mesopotamia, Greece, Rome, Asia, Mesoamerica and Oceania with Machine Age elements.

Other styles borrowed included Russian Constructivism and Italian Futurism, as well as Orphism, Functionalism, and Modernism in general. Art Deco also used the clashing colours and designs of Fauvism, notably in the work of Henri Matisse and André Derain, inspired the designs of art deco textiles, wallpaper, and painted ceramics. It took ideas from the high fashion vocabulary of the period, which featured geometric designs, chevrons, zigzags, and stylized bouquets of flowers. It was influenced by discoveries in Egyptology, and growing interest in the Orient and in African art. From 1925 onwards, it was often inspired by a passion for new machines, such as airships, automobiles and ocean liners, and by 1930 this influence resulted in the style called Streamline Moderne.

Art Deco was associated with both luxury and modernity; it combined very expensive materials and exquisite craftsmanship put into modernistic forms. Nothing was cheap about Art Deco: pieces of furniture included ivory and silver inlays, and pieces of Art Deco jewellery combined diamonds with platinum, jade, coral and other precious materials. The style was used to decorate the first-class salons of ocean liners, deluxe trains, and skyscrapers. It was used around the world to decorate the great movie palaces of the late 1920s and 1930s. Later, after the Great Depression, the style changed and became more sober.

A good example of the luxury style of Art Deco is the boudoir of the fashion designer Jeanne Lanvin, designed by Armand-Albert Rateau (1882–1938) made between 1922 and 1925. It was located in her house at 16 rue Barbet de Jouy, in Paris, which was demolished in 1965. The room was reconstructed in the Museum of Decorative Arts in Paris. The walls are covered with moulded lambris below sculpted bas-reliefs in stucco. The alcove is framed with columns of marble on bases and a plinth of sculpted wood. The floor is of white and black marble, and in the cabinets decorative objects are displayed against a background of blue silk. Her bathroom had a tub and washstand made of sienna marble, with a wall of carved stucco and bronze fittings.

By 1928 the style had become more comfortable, with deep leather club chairs. The study designed by the Paris firm of Alavoine for an American businessman in 1928–30, is now in the Brooklyn Museum.

By the 1930s, the style had been somewhat simplified, but it was still extravagant. In 1932 the decorator Paul Ruaud made the Glass Salon for Suzanne Talbot. It featured a serpentine armchair and two tubular armchairs by Eileen Gray, a floor of mat silvered glass slabs, a panel of abstract patterns in silver and black lacquer, and an assortment of animal skins.