Financial Daily from THE HINDU group of publications
Wednesday, Sep 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Sep 10, 2003 |
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Marketing
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New Products & Services Archies launches new range of HelpAge cards Our Bureau
New Delhi , Sept. 9 THE greeting card industry has reason to be optimistic this year. After seeing negative growth in the past few years, and de-growing by about 7-8 per cent in 2002-03, the industry has clicked a positive growth in the first five months of the fiscal. And what's more, the threat of e-cards spelling doom for the industry seems to have faded away. Points out Mr Vijayant Chhabra, Executive Director, Archies Ltd, "E-cards are no longer a fad. While for the sender it may be convenient, people still prefer to receive paper cards. The same goes for SMS. It may be alright for sending messages, but not greetings". Meanwhile, gearing up for the coming festive season, Archies has announced the launch of the new range of HelpAge cards, calendars and other stationery. Nearly 40 lakh cards are produced each year under this partnership. Archies also has a tie-up with CRY for producing cards. Roughly, around 10 per cent of Archies' total greeting card's turnover comes from sale of cards produced under tie-ups with HelpAge and CRY. "The total value of cards sold under these tie-ups is about Rs 5 crore", Mr Chhabra said. A large number of corporates incidentally opt for these cards. Major buyers include Sony Corp, Shell Gas, ICICI, Honda Motors, Reliance Industries and so on.
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