Archies eyes Rs 400cr sales in 4 yrs, launches UNICEF cards

2894 Investors following Archies. Share this News with them.

0

Like this story, share it with millions of investors on M3

Archies eyes Rs 400cr sales in 4 yrs, launches UNICEF cards

Gift and greeting cards major Archies today said it aims to more than double its India revenues to Rs 400 crore in the next four years as it gears up for an aggressive expansion programme across the country.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about Archies See previous management interviews See what other Experts & Brokerages are saying about Archies Archies BSE | NSE 31/05/12 Are Mutual Funds betting on Archies?

Gift and greeting cards major Archies today said it aims to more than double its India revenues to Rs 400 crore in the next four years as it gears up for an aggressive expansion programme across the country.

The company, which today announced a licencing partnership with UNICEF, said it is looking to double its retail presence to around 400 company-owned stores in the next four years, as well as tap modern retail chains for marketing its products.

"Our aim is to achieve sales of Rs 400 crore in the next four years. We are expanding our presence by opening more stores. Every year, we open around 40-50 stores. We will maintain this rate," Archies Ltd Chairman Anil Moolchandani told PTI.

Last fiscal, Archies registered sales of Rs 180 crore. The company expects the sales revenues to touch around Rs 220 crore this fiscal. It currently operates around 500 stores, of which 220 are owned by the company.

Moolchandani said the company plans to double the number of exclusive stores it operates in the country to 400 in the next four years, while expanding its presence at modern retail outlets as well.

To fund the expansion plan, the company's board members recently passed an enabling resolution to raise around USD 10 million (Rs 46.21 crore).

"We are looking at various options on how to raise the funds. It could be through equity, private investors or bankers, but we have not set a timeframe," Archies Limited Joint Managing Director Pramod Arora said.

Launching a range of UNICEF greeting cards and gifts, the company said it plans to sell around 10 million units of the UNICEF products and is eyeing a revenue of around Rs 20 crore through the initiative in the next five years.

UNICEF is a respectable brand. We have always wanted to partner with them... Our projection for the next five years is to sell around 10 million units of UNICEF products, including cards, diaries and calendars, and raise funds of Rs 200 million," he said.

As part of the licencing agreement, Archies will produce and distribute UNICEF cards and paper products through 222 outlets in 66 cities and 15 states.

"We are re-entering the greeting cards segment after 10 years in India. We have been looking for a partner... Through these cards and gifts, we hope to spread our message. We will be designing the cards, while Archies will print and distribute them in India," UNICEF India Representative Karin Hulshof said.