The much buzz about Archies Limited, one of India’s leading gifting and greeting companies, coming up with infant products is fallacious. Pramod Arora, executive director, Archies limited, censured the speculations about Archies’ business ties with a US-based company for its launch of baby products. As he confirmed to Indiaretailing, “Archies is not coming up with any products specially targeted at infants.”
Meanwhile, the company has tied up with Russ Berrie, a UK-based company that manufactures premium gift items like photo frames, candle stands, photo albums, and mugs. Arora informed Indiaretailing that the price range for these products is Rs 300-Rs 6,000.
Also, Archies is planning to come up with 40-50 stores each year for the next three years. Archies has a market share of about 50 per cent of India’s greeting cards market.
According to India Retail Report 2007, the total market size of the books, music and gift retail industry in the country is Rs 11,500 crore.
– Shruti Badyal