CORONA, CA -- AVT Inc. has entered into a 10-year licensing agreement with Utique Inc. through which it will operate existing U*tique-branded vending machines. At its website, Utique says it is now a division of Corona-CA-based AVT.
Utique has spent more than five years developing patented retail automation hardware and software for its U*tique Shops. The high-profile machines, which vend luxury items from cosmetics to electronics, have been deployed in airports, resorts, entertainment destinations and malls nationwide. They can generate up to 10 times more revenue per square foot than traditional retail at far lower operating costs, according to the company.
"Retailers are looking for solutions that allow them to grow efficiently and to stay connected to consumers, and consumers are seeking convenience and omni-channel shopping experiences," said Utique founder and chief executive Mara Segal. "Utique identified these trends early and made an exciting entry into this market."
She said the partnership with AVT will enable the companies to provide vertically integrated solutions.
Shannon Illingworth, founder and chairman of AVT, said the partnership will provide a higher-end solution for "image-sensitive" brands. He added that AVT will benefit by applying Utique's technologies across its customer base, and from its knowledge of retail and supply chain management.