September 13, 2018 07:19 PM
One week before the New York Stock Exchange could de-list Eastman Kodak, the company made a major announcement.
Kodak's shares have traded for less than $5 a share for almost three months.
However on Thursday, the former film giant launched a new line of clothing at Forever 21.
Is this enough to return the company to prominence and help its sagging stock price?
"I love the vibrancy. I think it's very out there," said Olga Para of Rochester.
News10NBC showed Eastman School of Music students, Para and Eric Kline, the new fashions and they liked what they saw.
The new fashion line launched at 600 Forever 21 stores globally.
The bright new apparel uses many of the original colors from Kodak's branding and packaging from the 1990s.
"I think Kodak has a meaning," says Kline, "Like it adds a meaning to the apparel. But it also looks good. I love the style."
"It's very meaningful because we play in the [Kodak] hall and it's a big deal to the both of us," said Para.
Beyond it's looks, what will the 26 items of clothing for both men and women do for Kodak, a company that in recent years has struggled to stay relevant, and quite frankly, in business.
"Kodak will only be making a licensing fee to have their brand on the clothes," said George Conboy, chairman of Brighton Securities. "They're not manufacturing the clothes, they are not designing the clothes. So they'll get a small royalty for everything sold, but it won't carry the profit margin that Kodak's traditional products carry."
Conboy says it's a move that will bring in money, but don't expect this to save the company.
"The Kodak name has become obscure to young people. It's good opportunity to reacquaint them with the brand through apparel. The difficulty is, Kodak sells virtually no consumer products anymore that you need to have people be familiar with the brand. They primarily sell to the printing industry and a good looking t-shirt might not move a lot of printing plates."
Created: September 13, 2018 07:19 PM
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