Polaroid(R) Brand Announces Partnership with the Summit Global Group of Companies

Wed Jun 17, 2009 3:41pm EDT

* Reuters is not responsible for the content in this press release.

Polaroid(R) Brand Announces Partnership with the Summit Global Group of

Imaging Firm is Granted Exclusive, World-Wide Rights to Produce and Distribute
Certain Polaroid-branded Products

MINNEAPOLIS, June 17 /PRNewswire/ -- PLR IP Holdings, LLC (www.polaroid.com)
announced today the completion of an exclusive 5-year license agreement with
the Summit Global Group to produce and distribute Polaroid-branded digital
still cameras, digital video cameras, digital photo frames and Polaroid
PoGo(TM) mobile products world-wide. The partnership is expected to generate
over $1.3 billion in retail sales beginning in 2009.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090617/NY34326LOGO ) 

A noted leader in the imaging industry, Summit Global has been a trusted
partner to the Polaroid brand for over eight years and, recently, added
several former Polaroid Corporation employees to its staff, bringing
continuity to the venture.  

"We are pleased to continue our relationship with Summit Global as we move
into a new era for the Polaroid brand," said Scott W. Hardy, President of PLR
IP Holdings, the entity that owns the Polaroid Brand. "Summit Global's
leadership in digital imaging is sure to uphold and exceed customer
expectations as we re-launch our iconic brand into relevant new product

"Our exclusive partnership provides an immense opportunity to reconnect
consumers with the Polaroid experience they have enjoyed for years through the
introduction of relevant digital products," said Giovanni Tomaselli, Managing
Director of Summit Global.

The agreement further develops and validates the strength of the Polaroid
brand, and supports PLR IP Holdings' strategic objective to diversify product
category growth in established and emerging markets.  

Dating back to 1937, Polaroid is one of the most widely-recognized consumer
brands in the world. Beginning with polarized sunglasses, the brand
proliferated into instant film, instant cameras and film, and expanded well
beyond into flat panel televisions, portable DVD players, digital photo
frames, digital HD camcorders, waterproof digital cameras and more. The
Polaroid brand has created an "innovation-made-simple" platform that continues
to have global appeal in today's market. Now part of a portfolio of iconic
brands jointly owned and managed by Gordon Brothers Brands
(www.gordonbrothers.com) and Hilco Consumer Capital (www.hilcocc.com),
Polaroid is leveraging its innovative and pioneering heritage and extending
into a full-scale, global licensing and marketing company to wholesale,
direct-to-retail (DTR) and e-commerce channels.

The Summit Global Group is a world-wide consortium of leading design,
development and distribution firms for imaging products. Headquartered in Salt
Lake City, and with offices in New Jersey, Minnesota, Boston, Hong Kong and
China, Summit Global manages the licensing, production and distribution needs
for a global clientele. 

SOURCE  Polaroid

Allison Rome of HL Group, for Polaroid, +1-323-966-4600, arome@hlgrp.com
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