IG Design Group, the AIM-listed business, which includes partyware as part of its Celebrations portfolio, has good reason to party, with group turnover having grown by an impressive 40% in its last financial year (to 31 March 2021) taking it to $873.2 million (up from $624.3 million in 2020).
While this increase was driven primarily by the full year effect of its timely acquisition of craft and creative business CSS, the group’s Celebrations sales were significantly up.
Celebrations accounted for 60% of the group’s turnover, ($521.6 million), up on the $469.3million it achieved the year previous, with partyware very much part of this.
“It was interesting that early in lockdown there was an absolute surge in demand for partyware as people adjusted to celebrating at home,” said Paul Fineman, ceo of IG Design Group, which supplies a strong core of leading retailers worldwide with own brand collections as well as some branded ranges.
Paul confirmed that one of the group’s growth ambitions is to extend its offering “in existing and adjacent categories including party, home accessories, gift, cards, craft & creative play and toys.”
Its sales of licensed merchandise (which includes partyware) increased significantly, generating sales of $104 million (almost double that of the year previous), accounting for 12% of turnover.
“Licensing is absolutely an area of growth for us,” confirmed Paul. “The last year saw the larger retailers very much back the perennials so we sold greater volumes across fewer licences with Disney, Star Wars and Peppa Pig performing strongly in the UK while sports and art licences also appealed in the US.”
The group is on an ambitious growth path, with acquisitions very much on the agenda, but these are likely to be of sizeable companies.