The big picture: Kodak was once among the most popular brands in the US, but a failed transition from film to digital photography proved to be the company's undoing. Bankruptcy occurred in 2012 and although Kodak has since managed to rebuild itself to the tune of $1.04 billion in revenue last year, it's nowhere near as recognizable as it once was – at least, not in the US.
Overseas, however, it's a different story.
In South Korea alone, there are more than 120 brick-and-mortar stores dedicated exclusively to selling Kodak-branded apparel. From shirts and baseball caps to book bags, sandals, and sundresses – if it's wearable, odds are you can find it emblazoned with Kodak's iconic branding.
Consumers in the region seemingly can't get enough of the apparel, either. One shopper told The New York Times that it's because Kodak hadn't lost its emotional touch. Adrian Tay, an editor for LinkedIn News Asia, said Kodak is now a trending fashion brand in South Korea.
Brand licensing is a small but growing part of Kodak's modern business. The segmented generated $20 million in revenue last year, an increase of 35 percent compared to just five years ago when Kodak got serious about brand licensing.
Nowadays, you can find Kodak's name on all sorts of goods that are seemingly unrelated to photography including eyewear, paint, flashlights, binoculars, and solar panels. According to company executives, the marketing movement is associated with certain elements of photography such as story-telling, creativity, and memory preservation. Under that wide umbrella, it's easier to see how Kodak can justify lending its name to other products.
Conveniently enough, the shift in strategy is occurring as a youth movement known as "newtro" is gaining momentum in South Korea. A portmanteau comprised of "new" and "retro," the movement also coincides with a renewed interest in film photography.
Of course, not everyone sees Kodak's recent brand moves as innovative or inspiring. Timothy Calkins, a marketing professor at the Kellogg School of Management at Northwestern University, told The NY Times that it's more an indicator of how far the brand has fallen. "This is characteristic of a brand that has come upon hard times."
Image credit: Woohae Cho for The New York Times