Kodak Extends Retail Print Relationship with CVS/pharmacy
Monday, November 26, 2012
Press release from the issuing company
Eastman Kodak Company today announced that it will extend its relationship with CVS/pharmacy through 2016. CVS/pharmacy operates 7,400 stores across the U.S. and is the largest customer of Kodak's Retail Systems Solutions (RSS) business. RSS is the world leader in retail print solutions with a global footprint of 105,000 KODAK Picture Kiosks.
"CVS/pharmacy is a valued partner to Kodak. This four-year extension of our relationship is great news for both companies, and for consumers who enjoy our services," said Laura Quatela, President of Kodak and Personalized Imaging. "Together, Kodak and CVS/pharmacy have advanced the in-store photo experience, offering consumers a variety of quality, personalized products they can create instantly and easily. We thank CVS/pharmacy for their partnership and look forward to continuing to work with them to grow their photo services business."
CVS/pharmacy has over 15,000 KODAK Picture Kiosks in its stores. As part of this agreement, CVS/pharmacy will be upgrading and expanding its fleet of KODAK Adaptive Picture Exchange (APEX) dry lab systems, which provide a more economical way for retailers to produce photo products, improve profitability, reduce their environmental footprint, and expand their customer offerings. Following the positive customer response to the print from FACEBOOK feature, CVS/pharmacy recently launched mobile printing from smartphones to the KODAK Kiosk.
Because this new agreement resolves certain pre-chapter 11 issues between the two companies, it will be brought before the Court for approval at a hearing scheduled for December 7.
"As we proceed with the sale process for the Personalized Imaging business, which includes RSS, this agreement is further proof of customer demand for Kodak's market-leading products and services – and potential buyers recognize this," added Quatela. "We remain strongly committed to providing our customers with the high level of service we always have."
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