Garmin Announces Growth Milestone
SCHAFFHAUSEN, Switzerland–Garmin Ltd. (NASDAQ:GRMN) recently announced that it has sold more than 200 million of its GPS navigation and wearable technology products to customers around the world pursuing their passions throughout the automotive, aviation, fitness, marine, and outdoor markets Garmin serves. This milestone is concurrent with the opening of the first phase of the company’s facility expansion at its North American headquarters in Olathe, Kansas. Built to enable growth in many areas of its business, this 750,000-square-foot manufacturing and distribution center more than doubles the company’s aviation product manufacturing and distribution capacity. These exciting achievements reinforce Garmin’s continued commitment to its customers, associates, shareholders and community.
“All over the world, one product at a time, we help our customers beat yesterday with products that fuel their passions,” said Cliff Pemble, Garmin president and CEO. “Just six years ago, Garmin sold its 100 millionth product. Today, we’ve doubled that number and have significantly expanded our business to become a leader in all markets we serve, including wearable technology which has been a source of remarkable growth in recent years. As we celebrate these tremendous milestones, we thank our customers and associates who made these achievements possible, and look forward to many more milestones to come.”
Founded in 1989 by a small group of engineers passionate about creating GPS applications for active lifestyles, Garmin now employs more than 12,000 associates in over 30 countries. Now that the first phase of the Olathe campus expansion – the expanded manufacturing facility – is open and operating, the move of the company’s distribution center will begin early next year. Following the move of the distribution center, the second phase of renovating the existing Garmin warehouse and manufacturing space into a state-of-the-art research and development facility and supporting office space will begin. Once completed, the 96-acre Garmin Olathe campus will offer 2.25 million square-feet of space, with room for up to 2,600 additional associates. In addition to continually advancing its highly diversified automotive, aviation, fitness, marine and outdoor markets, Garmin continues to grow its global presence.
For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary markets, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin’s virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, instagram.com/garmin, or youtube.com/garmin.