The Fortune 500 is a list of America’s largest companies, and is a constant barometer on the state of the American business landscape. In its 64 years of existence, the Fortune 500 has been an exclusive club, and its newest inductee is one from the powersports industry: Polaris Industries.
Ranked at #496 on the list, the addition of Polaris means that the influence (and decline) of the US motorcycle and powersports landscape will be seen on a much larger national stage.
Mostly it is just a cool milestone for Polaris, and proud bragging point for the company’s executives at the next country club gathering.
“Being named to the Fortune 500 is a tremendous honor and a true testament to the integrity, passion, and commitment to excellence of every Polaris employee,” said Scott Wine, Chairman and CEO of Polaris.
“Building on the entrepreneurial spirit of our founders and with an eye towards strategic growth, Polaris has spent the last six decades leading the industry in innovation, shaping new markets, and working hard each day to create enjoyable experiences for our customers across the globe.”
“Thanks to the hard work of our employees, the support of our riders and a strong partnership with our dealers, we have achieved this notable milestone, but this is just the beginning, and we are continuing our drive towards an incredibly bright future.”
To its credit, Polaris has been a beacon of light to the motorcycle industry – no pun intended.
The Minnesota company has been extremely aggressive with its acquisitions of other companies, which it buys for strategic growth and unique technology.
In the two-wheeled space, Polaris has doubled-down on its Indian Motorcycle brand, shutting down Victory Motorcycles in the process, in order to focus the company’s resources on competing with Harley-Davidson in the American cruiser segment.
So far, that gambled has paid off, with Indian sales continuing to climb. Similarly, Polaris Slingshot sales have been strong, with the three-wheeler slowly gaining acceptance as an autocycle, on a state-by-state basis.