U*TIQUE’S NEW DEAL: U*tique, the vending machine that generated buzz when it launched in 2009 for its touchscreen technology and its premium positioning selling must-have products from the likes of Chantecaille, Lancôme, Smashbox, Malin + Goetz and C.O. Bigelow, has inked a 10-year licensing agreement with automated retail company AVT Inc. “The partnership with U*tique Inc. will immediately accelerate our growth while providing a higher-end solution for image-sensitive brands, advanced technologies that we can apply across our customer base, a deep knowledge of retail and supply chain management, and immediate capability to diversify our revenue streams,” said Shannon Illingworth, AVT’s founder and chairman. AVT reported that U*tique generates 10 times more revenue per square foot than traditional retail and has lower operating costs. “Retailers are looking for solutions that allow them to grow efficiently and to stay connected to consumers; consumers are seeking convenience and omni-channel shopping experiences. U*tique identified these trends early and made an exciting entry into this market,” said Mara Segal, founder and chief executive officer of U*tique. AVT, which is also developing vending machines and kiosks meant to function like large iPads to dispense beauty products from Kourtney, Kim and Khloe Kardashian, generated nearly $10.9 million in revenues for the nine months ended Sept. 30 last year, up from almost $6.3 million for the nine months the year before. Net income increased to $694,621 from $302,295 during that same period.
April 15, 2013