Corporate
November 10, 2006
Garmin® Store on Chicago’s Michigan Avenue to Open This Weekend
OLATHE, Kansas/November 10, 2006/PR Newswire — Garmin International Inc., a unit of Garmin Ltd. (Nasdaq: GRMN), will open its first retail store at 10:00 a.m. on Saturday, November 11, 2006. The store is located on Chicago’s “Magnificent Mile” at 663 N. Michigan Avenue, and is the only store in the world dedicated to GPS (Global Positioning System) devices.
“Michigan Avenue’s vibrant shopping area is an ideal place for the Garmin store,” said Kevin Rauckman, Garmin’s chief financial officer. “We expect the store to attract a very diverse audience. From those who already own a Garmin GPS to window shoppers who are intrigued by what they see, the Garmin store is the perfect place for people to come to test our products and discover which one best fits their lifestyle.”
To celebrate the grand opening, Garmin is hosting several well-known guest speakers on Saturday, November 11. These seminars are free and open to the public, and they feature presenters from Runner’s World magazine, Geocaching.com, Popular Science magazine, and more. The seminars will begin at 10:30 a.m. and will go throughout the day. In addition to the free Runner’s World seminar, runners will have a chance to run four-miles with Runner’s World editor Bart Yasso. The group will depart at 9:30 a.m. from the Garmin store, which is at the corner of Michigan Avenue and Erie Street. The run is being coordinated with the Chicago Area Runners Association (CARA).
Garmin has also commissioned a commemorative geocoin that will be given away starting at 11:30 a.m. (while supplies last). Geocoins are a token used in geocaching, a high-tech outdoor treasure hunt that requires a GPS receiver. Geocaches are hidden around the world and are identified by their latitude and longitude lines.
The Garmin store will also display the newest motorcycle in Tonight Show Host Jay Leno’s garage. The Kawasaki Ninja ZX-14 will be equipped with the Garmin zūmo, Garmin’s new motorcycle GPS that will be in stores for the holiday season. Considered the world’s most powerful production motorcycle, the ZX-14 will be on display through the first of the year.
In addition, Garmin has established a partnership with Chicago’s After School Matters, a non-profit organization that partners with the City of Chicago, the Chicago Public Schools, the Chicago Park District, the Chicago Public Library, the Chicago Department of Children and Youth Services and Community-Based Organizations to expand out-of-school opportunities for Chicago teens. This nationally recognized non-profit organization has established programs that allow Chicago teens to take part in engaging activities that provide skills that translate to the workplace. Garmin and After School Matters are hosting a by invitation only sneak-preview VIP event at the Garmin store on Friday, November 10, where After School Matters’ teens will screen their computer animation short films. As a sign of Garmin’s support to the community and After School Matters, Garmin will make a donation to After School Matters during the event. In addition, artwork from After School Matters’ gallery37 program will be available for purchase.
“Everyone at After School Matters is very excited that a high-tech company like Garmin has invested in the community and Chicago teens upon their Michigan Avenue opening,” said David Sinski, Executive Director at After School Matters. “Corporate partners like Garmin help us give more teens access to cutting-edge technology, with the goal of attaining high digital literacy,” he continued.
The hands-on Garmin store will include over 50 Garmin GPS products that are full functioning so that customers can test-drive Garmin’s entire product line. 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.
Additional information about the Garmin store or grand opening celebration is available at www.garmin.com/retail or www.garmin.blogs.com. For more information about After School Matters, please visit www.afterschoolmatters.org.
About Garmin International Inc.
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 at www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries. Anticipated product availability dates are based on management's current expectations and are not guaranteed.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company’s future product introductions and expected product availability dates 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 at 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.
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