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Classmate brand from ITC crosses 1k cr mark
The Times of India - 15 Jan 2014

The education and stationary product space is set for a power play following dereservation from small scale industries sector. Leading stationary players like Camlin, Linc and Cello have already roped in strategic partners in last two-three years, now the tobacco-to-FMCG-to-hotel behemoth, too, may look for acquisition in the space following health double-digit CAGR in the sector. ITC now has a strong presence in the sector with Classmate and Paperkraft brands. Classmate, the homegrown stationery brand from ITC, has just crossed Rs 1,000-crore mark by consumer spends, one of the few brands in FMCG to do so.

The chief executive of education and stationery product business of ITC, Chand Das, told TOI that the education and stationary space in India is one of the biggest in the world. "India has 230 million (23 crore) student between kindergarten and Class XII. A huge domestic market in this sector has opened up new possibilities after deregulation," he said.

Das pointed out that given the size and attractiveness of the Indian schooling system as well as the deregulation of many segments of the stationery sector, it is witnessing the entry of many foreign players today. The chief executive of education and stationary of ITC indicated that it is not averse to partnership or acquisition if requires.

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