SMALL BUSINESS
Winning formula keeps customers coming back to Kim's Video & Music
Kim's Video & Music on St. Mark's Place in the East Village, is known for its inventory of independent, documentary and foreign films. (Dennis W. Ho/amNew York)
What began more than 20 years ago as two shelves of VHS rentals in the backroom of a Laundromat in Alphabet City, Kim's Video & Music has evolved into a thriving chain that offers an extensive -- and oftentimes obscure -- selection of media.
Kim's has outlasted most independent video and music stores, despite the penetration of online rental sites and pervasive digital bootlegging.
"It's a constant struggle, but because of our extensive catalogue, that's why we're safe," says Ricky Sutton, a manager of five years at Kim's Video on St. Mark's Place in the East Village. Kim's is known for its inventory of independent, documentary and foreign films.
"People come here for the hard-to-find things," says Sutton. Kim's also has a small selection of books.
In 1987, Yong-Man Kim, a Korean immigrant, began renting out movies from his dry cleaning shop, Kim's Cleaners, on Avenue A. Today, Kim's has multiple locations. It¹s biggest store is on St. Mark's Place, with 26,000 DVD titles and 21,000 VHS tapes. Other sites are uptown near Columbia University and one is in Jersey City.
The staff prides itself on its industry experience, and its knowledge of directors, cinematography and film genres. Sutton used to be a video distributor for Baker & Taylor and has worked at other video stores.
Mr. Kim is hands-off when it comes to buying inventory, Sutton says. The owner is more involved in the overall business strategy.
"It's his vision, but [the employees] have a certain amount of autonomy." Kim did not want to be interviewed, but allowed his top manager to speak on the store's behalf.
The St. Mark's shop profits well off neighboring New York University students and faculty. Many university clients and film studios have accounts with the store, which helps keep sales continuous. Mr. Kim also owns the East Village building, which lets him escape Manhattan's escalating rent structure. In fact, rising rent has forced Kim's to close other downtown stores a couple times over the years.
Uptown on Broadway and 114th Street, Kim's receives similar foot traffic from its neighbors at Columbia University. A university-owned building, Kim's opened on the ground level in 2001. While on a lease, Sutton believes the community would fight to keep its doors open for a long time.
"The University thinks it's important to exist," says Sutton. "We provide something for them."
Copyright © 2008, AM New York
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