Greeting cards have been cited not only as an area of growth by IG Design Group, but one of future expansion too. Announcing the group’s interim results (which cover the six months to end of September) today which showed a 21% growth in pre-tax profit (£17.1 million) on sales that were up 22% (£284.4 million) Paul Fineman, ceo of the global business told PG Buzz that the greeting cards have been “a strong growth area” for the group, having seen their sales rise “consistently for the last five years.”
IG Design Group includes its greeting card sales as part of its Celebrations business. “Sales from our Celebrations side are up 20% and greeting cards represent 17% of this part of our business. So far, so good!” said Paul.
The company recently expanded its business with Aldi, whereby IG Design Group is now supplying over 400 of the value grocer’s stores in the UK with a bespoke selection. It also creates and supplies bespoke single card selections for B&M, Poundland and Wilko in addition to supplying many other leading UK retailers with own brand wrap and boxed card products.
“We have a fairly niche position on cards in that we very much cater for the discount and value market, not just in the UK, but overseas too,” explains Paul.
While the US remains the largest card market for the group, Paul also feels there is more growth potential in the UK.
Part of this is likely to come from the expansion of its licensed products. With licensed merchandise now accounting for around 14%/15% of all sales, the group is looking to leverage its position on the licensed card front. Its first licensing agreement for cards is for Emoji, but Paul says “there will definitely be more” to follow.
Top: Paul Fineman, ceo of IG Design Group.