The Hindu : Archies diversifies

Online edition of India's National Newspaper
Thursday, Jun 06, 2002

Business

Business

Archies diversifies

By Corporate Reporter

CHENNAI JUNE 5. Archies Greetings and Gifts plans to focus on retailing as part of its diversification programme. The company, at its last board meeting, also decided to change the name to `Archies Limited' for this purpose, according to Vijayant Chhabra, Executive Director.

Mr. Chaabra was here in connection with the opening of its 40th `second vision 2000 outlet' in Chennai. He said Chennai was becoming an important market and the company had become more aggressive in the last one year. Three more outlets would be opened soon in Chennai to cater to the whole spectrum of greeting card buyers.

The company, he said, had added one more line, basic stationery products, to its trading portfolio. In a week's time these products would be launched in Delhi. The entry into trading in perfumes, gift articles and stationery, would enable the company to enhance its sales and profitability, Mr. Chhabra said.

Archies has achieved a turnover of about Rs. 80.47 crores in the 12 months ended March 31, 2002. The greeting cards business accounted for 51 per cent, gift articles 21 per cent, perfumes 24 per cent and others 4 per cent. Tamil Nadu contributed 4-5 per cent of the total turnover of the company.

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