July 29, 2010

Coinstar Evaluating Beauty Kiosks?

From WSJ: Coinstar diversifying. Next business in beauty kiosks? Analysts figure good solid 3 or 4 years of solid growth but then they need a new line.

Coinstar Inc. (CSTR) may try to do for makeup what its Redbox unit has done for movie DVDs.

The DVD-vending and coin-counting machine maker is recruiting a vice-president-level manager to oversee a new venture in the beauty or cosmetics space.

And while the Bellevue, Wash., company wouldn't comment on its plans, advertisements for the job posted on the Internet this month indicate Coinstar is trying to develop partnerships in the beauty and cosmetics industry and to develop vending machines that eventually might be rolled out across the U.S.

"We are continually looking at new opportunities in the self-service, automated retail space and plan to have a number of seed businesses that we're testing and evaluating at any given time," Coinstar said in an email statement to Dow Jones Newswires. "It would be premature to provide comment on any of these early concepts."

Coinstar is scheduled to report quarterly results after markets close Thursday.

rest of article

Posted by staff at July 29, 2010 03:48 PM