OLATHE, Kan., July 31 /PRNewswire/ -- Garmin International Inc., a unit of Garmin Ltd. (Nasdaq: GRMN), today announced it will open a retail product showcase on the world-renowned "Magnificent Mile" in downtown Chicago, located at 669 North Michigan Avenue -- in time for the 2006 holiday shopping season. Garmin is the only GPS manufacturer to unveil a location specifically devoted to giving customers the world's most comprehensive GPS experience through hands-on product demonstrations and interactive kiosks, training, seminars, sales, and product support.
"This new Garmin presence on Michigan Avenue will allow us to promote our brand and our products in an entirely new way. We want to use this location as a destination to excite and energize our customers, generate buzz, and further propel sales among all of our retailers," said Dr. Min Kao, Garmin's chairman and CEO. "Whether you're searching for an address across town, traveling overseas on business, hiking in the woods, or running a marathon, GPS devices have become a 'must-have' because they improve people's everyday lives."
ProTen Realty Group, a leading tenant representation firm headquartered in Chicago, was instrumental in bringing Garmin to the Magnificent Mile. According to the Greater North Michigan Avenue Association, the district offers over 3.3 million square feet of retail space, 460 stores, 275 restaurants, two unique museums and entertaining attractions to more than 22 million visitors each year.
"This is an extremely exciting addition to Michigan Avenue that everyone will enjoy," said Camille Julmy, vice chairman of U.S. Equities Realty who represents 669 N. Michigan Avenue. "Garmin will fit perfectly in this block filled with other major long-term tenants."
Customers visiting Garmin will be greeted by a knowledgeable team that can answer questions and demonstrate a wide variety of Garmin products. Regularly scheduled training and seminars will also be held to educate current and future customers about the benefits of GPS and Garmin products. Customers may also purchase Garmin units and accessories at this location. In addition, the site will serve as a meeting and training facility for the Garmin retail network.
Founded in 1989, Garmin is a pioneer and worldwide leader in the design, manufacturing, and sale of GPS navigation equipment. The company has built and sold over 16 million products that serve the automotive, aviation, marine, OEM, personal fitness, recreation and wireless markets. The Garmin brand is known for its innovative, award-winning products that fit every lifestyle and budget -- devices like nuvi(TM), the world's Personal Travel Assistant(TM).
Garmin International Inc. is a member of the Garmin Ltd. (Nasdaq: GRMN) group of companies, which designs and manufactures navigation, communication and information devices -- most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom athttp://www.garmin.com/pressroom or contact the Media Relations department at913-397-8200. Garmin is a registered trademark, and nuvi and Personal Travel Assistant are trademarks of Garmin Ltd. Anticipated product availability dates are based on management's current expectations and are not guaranteed.
U.S. Equities Realty is a leading full-service commercial real estate firm headquartered in Chicago, with offices in Philadelphia, Detroit, Buenos Aires, Argentina, Sao Paulo, Brazil, and Santiago, Chile. The company serves as strategic real estate advisors to clients throughout the United States and in South America, providing development, program management, build-to-suit and construction oversight services; management and leasing a portfolio of 40 million square feet; tenant representation, consulting and advisory services; and acquisition, disposition and financing of real estate assets. For more information, visit http://www.usequities.com.
All other brands, product names, company names, trademarks and servicemarks are the properties of their respective owners.
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company's future store opening are forward-looking statements. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 31, 2005 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin's Form 10-K can be downloaded athttp://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Garmin International Inc.
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