WoW! Blockbuster is alive and well in Mexico!


I thought Blockbuster was gone. Not So!

"While the last Blockbuster video-rental store in the U.S. closed this month, the brand lives on in Mexico as an upscale chain with aspirations to sell everything from televisions to banking services.

After deciding to shut its U.S. Blockbuster outlets in November, Dish Network Corp. (DISH) agreed to sell the chain’s Mexican stores for $31 million to Grupo Elektra SAB, a retail and financial company controlled by billionaire Ricardo Salinas.
The Blockbuster name has more panache in Mexico and many of the stores are located in well-heeled neighborhoods, said Juan Elizalde, an analyst at Banco Ve Por Mas SA. Renting out movies and video games also is still seen as a viable business model in the country, even though pirated DVDs are readily available from street vendors. Blockbuster Mexico doesn’t have the tarnished image of the U.S. chain and could be used by Elektra to create something more ambitious, he said."

Check out the whole story-they sell more that DVDs.

Blockbuster Lives on in Mexico as Upscale Chain - Bloomberg