Retail Industry
Industry: Email Alert RSS FeedKozmo closes up shop.(Brief Article)
Video Business, April, 2001
* E-tailer Kozmo, which built its business on quick delivery of specialty and household items including rental and sell-through VHS and DVD, last week shut its operations and moved to liquidate its assets. The service operated in Atlanta; Boston; Chicago; Los Angeles; New York; Portland, Ore.; San Francisco; Seattle and Washington.
Kozmo said it turned profits in Boston, New York and San Francisco in December, but it wasn't enough. "Given more time and more hospitable market conditions, Kozmo would have succeeded in rounding the corner and would have continued to grow," president and CEO Gerry Burdo said in a statement. The company recently terminated a $150 million deal with Starbucks Corp. that gave the Internet delivery service VHS and DVD return drops in...
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