Having built brand equity with its greeting cards and fashion accessories, Archies Ltd has forayed into corporate gifting, which has now become an organised industry. Archies has launched an exclusive corporate gifting range ‘Giftworks’.
Archies has evolved from a greeting card manufacturer to a significant player in corporate gifting. With the retail boom in the country, it has consciously targetted malls and other prime retail space for opening its stores. Pramod Arora, Executive Director, Archies Ltd, said, “We started out as a greeting card manufacturing company and went on to being the market leader in the Indian social expression industry. We own over 50 per cent market share in the organised sector.”
Arora added, “We tasted the waters of corporate gifting when corporates came to our stores and asked for specific items. So after having spoken to our customers, we targetted the niche corporate segment and launched ‘Giftworks’. The corporate populace not only looks for innovative products, but also those that match their brand identity. Being a leader in the social expression industry gives us that edge to provide the best range to our consumers. We have realised the potential in the market and our range of offering would suit all budgets and industries all throughout the year.”
With corporates as the main target, the company has also worked out strategies like direct mailers and direct contact systems for marketing the new range. A separate website www.giftworks.in has also been introduced. The product range includes metal time cups, ‘Clock with pen stand’, ‘Globe with Thermometre’ and many other products that are first-of-its-kind. The range of the products suits all budgets, and is strategically priced between Rs 165 and Rs 12,999.
Archies had also recently launched a new brand ‘Stupid Cupid’ for fashion accessories and premium gifts. Having built brand equity through the retail outlets and ‘Stupid Cupid’, the company doesn’t believe in aggressive advertising for its brand recall. However, the promotional activities for the brand started with the first ad of ‘Giftworks’ that appeared in What’s Hot, a supplement of The Times Of India. The company plans to print catalogues for the product range. Arora said, “Giftworks will be advertised through the print medium and the products will be displayed at Archies’ retail outlets.”
Archies currently operates 89 exclusive outlets in 13 states in 22 cities, and has over 400 franchise outlets across India. The company’s revenue from retail operations is just about 50 per cent at the end of financial year 2006, and is expected to go up to 70 per cent by March 2010.