Hilco Global Revitalizes Iconic BrandPolaroid Logo

Polaroid, the iconic brand known around the world for pioneering and perfecting instant photography, experienced a sharp decline in demand resulting from the evolution of digital imaging technology in the 1980s. The company filed for Chapter 11 bankruptcy in 2001.

After others made several failed attempts to revive the company, in 2009 Hilco Global acquired the intellectual property and other assets of Polaroid following a second bankruptcy filing. The acquisition included a material investment by Hilco Global and other capital partners as well as an equity stake for the bankruptcy estate of the then Polaroid Corporation (now PBE Corp.).

A new management team was put in place, lead by President and CEO, Scott W. Hardy, to work in concert with Hilco Global to completely transform the company. All manufacturing operations were ceased and the company instead focused on product innovation and building a global licensing platform for the Polaroid brand. Currently, over 50 best-in-class licensees across the globe have developed and are marketing a broad range of Polaroid-branded consumer electronics products, including instant and digital still cameras, lifestyle action sports cameras, tablets and flat screen TVs. Innovative products such as the Polaroid Cube continue to break through established barriers, bringing ease-of-use, sharing and fun to consumers. Polaroid branded products are now sold in over 100,000 retail stores in more than 100 countries.

Late in 2014, Hilco Global announced the addition of the Minneapolis- based Pohlad Family Capital Fund (PFCF) as an investor and partner in the current Polaroid deal. The infusion of this impressive additional capital partner marks the next phase of the company’s evolution after a successful five year effort to reestablish Polaroid as the preeminent brand for instant photography and related consumer electronics.

 

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