Little over three years ago, IG Design Group did not produce a single counter greeting card – now the global player is on course to publish well over 100 million of them in a single year – enough to cover over 350 football pitches. IG Design Group has long been a major supplier of own brand packaged Christmas cards, but it has dramatically increased its grip in the card market, be it through supplying UK value retailers Poundland, B&M, Wilko with own brand offerings or via its growing interests overseas, both own brand and branded.
The group this morning (November 28) announced its interim results (for the half year to October 30) which showed its turnover and profits were up year on year.
Paul Fineman, ceo of the group described it as a “robust performance” though accepted that “cost headwinds are undoubtedly stronger than ever.”
While its UK sales were up 4% and profit stable in the six month period, this was trounced by performance elsewhere in the world. Its US business, buoyed by the acquisition of Lang (a calendar, stationery and giftware company) was up 18% while its Australian side, where it is bolstering its greeting card presence through its acquisition of Biscay Greetings, showed a healthy 13% increase in sales. Turnover from continental Europe was the star of the show, up 19%.
Having clawed the group’s fortunes back from being a heavily debt-encumbered business not so many years ago through agile thinking, shrewd investment and strategic acquisitions, Paul Fineman, ceo said he was enjoying the buzz of the business.
“I agree with my Dad, who used to say, ‘I’ve been a pigeon and I’ve been a statue. It’s more fun being a pigeon!”
Paul also said that the group is “proactively” pursuing acquisition opportunities, and is currently considering a few companies that include greeting cards in their product line-up, though would not be drawn as to which country they operate.
IG Design Group now has products in 200,000 stores, has 10,000 customers and operates in 80 countries.
- This year it will sell… over 1 billion metres of gift wrap – enough to go from Earth to the moon and back
- This year it will sell… almost 1 billion stickers – enough to cover the London Gherkin many times over
- This year it will sell… over 70 million gift bags – enough for 1 in 100 people in the world
- This year it will sell… 40 million colouring and writing instruments – end to end, they would be nearly as long as the Great Wall of China
- This year it will sell… 100 million greetings cards – enough to cover more than 350 football pitches
