MINNEAPOLIS PLR IP Holdings LLC announced the completion of an exclusive five-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 mobile products worldwide.
Prior to the partnership, Summit Global had been a trusted partner of the Polaroid brand for over eight years.
"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 categories."
The partnership 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. It is anticipated that the agreement will generate over $1.3 billion in retail sales beginning 2009.