GameStop, which is currently causing quite a stir on Wall Street, has a strong local connection that leads to Electronics Boutique, a West Chester company founded in 1977 by Agnes Kim, writes Natalie Kostelni for the Philadelphia Business Journal.
Electronics Boutique evolved from a kiosk that was selling computers and other equipment at the King of Prussia Mall into a global retailer of emerging but rapidly growing gaming industry.
Kim’s husband, James Kim, a prolific entrepreneur, served as chairman of Electronics Boutique. He also formed Amkor Technologies, which got its start in West Chester.
In 2005, Electronics Boutique was acquired by Texas-based GameStop in a deal valued at $1.44 billion. At the time, Electronics Boutique was a Fortune 1000 company as well as a leading worldwide retailer dedicated exclusively to video game hardware and software and related products.
It had 2,000 stores on three continents. This gave GameStop, the nation’s largest video game and entertainment software retailer, a way to enter new international markets while becoming more competitive within the country.
After the acquisition, GameStop closed Electronics Boutique’s West Chester headquarters and distribution centers in Chester County.
Read more about GameStop’s local connection in the Philadelphia Business Journal here.