Kodak's story is an example of how a 130-year-old, famous company can quickly and ignominiously leave the scene.
Today, the manufacturer specializes in printing technologies demanded by corporate users. But the brand owners dream of returning to the consumer market.
The ambition of the company's chief brand manager, Dany Atkins, is for people to know and love the Kodak brand as they did in the past. In the 1990s, the company produced the lion's share of cameras and film for them in the U.S. and was regularly ranked among the top five most valuable brands in the world. In 1996, revenues Kodak peaked at $16 billion, and by 1999 it was $2.5 billion. The reason for the decline was a mistake in the direction of digital photography. By the time the company's management had caught up, it was already too late. From 2003 to 2012, the company closed 13 manufacturing plants and 130 processing laboratories, cutting 47,000 people. The end result was bankruptcy proceedings and the subsequent restructuring of the company.
Kodak will release a collection of T-shirts, sweatshirts and bags in retro style
Kodak expects to play on nostalgia. Thus, the company entered into a license agreement with fast fashion retailer Forever 21. The result was a collection of T-shirts, sweatshirts and bags in retro style. The supply of 35mm Ektachrome film has been resumed, and interest from photography enthusiasts has increased again. Various other steps towards the consumer market are also being taken. So far, most of them are not related to production, but to the revival of the brand itself.
It is difficult to say whether Kodak will be able to return to its former glory. However, work in this direction is ongoing and is becoming more and more active. And who knows, maybe the brand will succeed. How can you not think of history Apple which was on the verge of extinction in the late 1990s, and now sets the fashion for the whole industry. Let's wish Kodak good luck!