P&G Cards looks to Europe, US for growth
Irish greeting card seller P&G Cards - which turns 30 next week - plans to double turnover through expansion into the US and European own-brand markets.
The Roscommon company already has a contract to produce bespoke cards for Aldi but has kicked off plans for much greater expansion in this area in the US, the UK and Europe, said P&G deputy managing director Michelle Daly.
"We want to double turnover. You are not going to get that in the domestic market. We have to look at other markets and other ways of doing things.
"This year we also added confectionery products and gifts for Father's Day and Mother's Day and in 2019 we will expand that to Valentine's Day," Daly said. Accounts for 2017 indicate retained profits of over €1m for the financial year.
"Ireland, the UK and the US are the biggest markets for cards in the world and there is a real emotional attachment to sending cards for many people, but there is growth elsewhere," she said. P&G was founded by Daly's parents, Pauline and Gerry Naughton, 30 years ago.
They have instigated a five-year succession plan to hand it over to Daly and her sister Aisling, who is operations director.
P&G designs and manufactures most of the nine million cards it sells each year and is the biggest card-seller in the country. It has major contracts with Dunnes, Musgrave Group, BWG and a large number of independent retailers.
Growth at the company in the last three years has matched market growth at 2pc to 3pc. It began designing and manufacturing in 2008.
"We have been through some tough times and had to make some tough decisions, but that is now paying off," said Daly.
"When you are an importer and distributor you are very reliant on suppliers. You have much more freedom and flexibility when you do your own manufacturing. It was the best decision we ever made."
Sunday Indo Business