Printer Friendly

ARTISTIC GREETINGS SIGNS MARKETING PACT WITH AMERICAN GREETINGS

 ARTISTIC GREETINGS SIGNS
 MARKETING PACT WITH AMERICAN GREETINGS
 ELMIRA, N.Y., June 18 /PRNewswire/ -- Artistic Greetings Incorporated (NASDAQ: ARTG) today announced it has obtained exclusive rights to market and sell greeting cards manufactured by American Greetings (NASDAQ: AGREA).
 The agreement underscores a renewed commitment by American Greetings to become more involved with Artistic Greetings, the specialty mail order company said.
 The new agreement also permits Artistic to offer a broad range of other American products, including ribbons, bows, stationery, wrapping paper, Christmas and all occasion cards. The products will be offered in Artistic's catalogs and mailed to consumers throughout the year.
 Under the terms of the pact, the contract expires December 31, 2000. However, either party may terminate the agreement upon nine months written notice.
 Stuart Komer, chairman and president of Artistic, said the accord with American represents a renewed commitment by American and Artistic to solidify their marketing relationship.
 American owns slightly less than 40 percent of Artistic. The stock was purchased two years ago from the company.
 Although Komer would not estimate either revenues or profit for the company, he said the agreement has the potential to dramatically increase the company's product line.
 "We are entering a field where there is only one other major competitor who currently does $200 million in sales," Komer said. "We are the second entry, and the reason no one has done this is the expense to design and manufacture greeting cards. American is doing that for us."
 Komer said the company could top $150 million in total sales revenues by 1995 if the pact proves successful. Last year, Artistic's sales were $63 million.
 "It (the agreement) keeps us in the same business. It keeps us in paper products," Komer said. "It's not like we are going into business with somebody that makes products that do not fit our sales mix."
 Artistic Greetings specializes in mail order of personalized products such as name and address labels, stationery, pens, pencils, luggage tags and a host of other products. It sells through catalogs, newspapers and magazines.
 -0- 6/18/92
 /CONTACT: Richard C. Bast, vice president finance of Artistic Greetings Incorporated, 607-737-5235, ext. 268/
 (ARTG,AGREA) CO: Artistic Greetings, Inc. ST: New York IN: REA SU: JVN


BM -- CL011 -- 1695 06/18/92 17:30 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 18, 1992
Words:381
Previous Article:CALIFORNIA REVENUE ANTICIPATION WARRANTS RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:CHICAGO MERCHANTS AND PAINTMAKERS TAKE CITY TO COURT ON SPRAY PAINT BAN
Topics:


Related Articles
ARTISTIC GREETINGS ANNOUNCES APPOINTMENT OF INDEPENDENT COMMITTEE
ARTISTIC GREETINGS REACHES NEW STANDSTILL WITH AMERICAN GREETINGS
ARTISTIC GREETINGS INCORPORATED FIRST QUARTER 1993 RESULTS
ARTISTIC GREETINGS INCORPORATED INITIATES QUARTERLY DIVIDEND
AMERICAN GREETINGS FORMS ALLIANCE WITH PC FLOWERS & GIFTS TO MARKET GREETING CARDS ON THE INTERNET
AMERICAN GREETINGS TO MARKET GREETING CARDS AND SOCIAL EXPRESSION CONTENT ON THE MICROSOFT NETWORK
AMERICAN GREETINGS AND MICROGRAFX SIGN AGREEMENT TO DEVELOP INTERACTIVE SOCIAL EXPRESSION PRODUCTS
American Greetings/BEC Group Announce Foster Grant Agreement
American Greetings and 1-800-FLOWERS Announce On-line Marketing Alliance
American Greetings Chooses NetObjects Collage for Content Management Solution.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters