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ITC sees greeting cards biz rise to Rs 100 cr in ‘05-06
The Times of India - 28 Jul 2003

ITC Ltd aims to grow its greeting cards business to a Rs 100-crore operation by 2005-06 with a substantial portion of the revenue emanating from its stationery products range, the division’s chief executive C. S Das said. The greeting cards segment did business of Rs 15 crore in the past financial year and turnover was likely to rise to Rs 30-35 crore in 2003-04 with growth being driven by larger availability of its stationery range, he said.

ITC, currently the second-biggest player in the greeting cards category, intends to complete the national roll-out of its range of school notebooks- where it has to contend with just one major competitor- by next month to drive revenue upwards. "Stationery is a bigger business than greeting cards nationwide. We expect the turnover of the stationery range to equal that of greeting cards in the next financial year and it is quite likely that it would become a bigger business than greeting cards (for ITC) in 2005-06," Das told TNN.

Das said the greeting cards business would not be hit by the increasing popularity of the short messaging service offered by mobile phone operators and e-greetings. "All three can co-exist," he said. Das said greeting cards in India had remained largely English-centric.