M&G Stationery announces its acquisition of Office Depot China as part of its global expansion strategy.
Shanghai-based M&G formed in 1996 and now has an annual turnover of more the $1bn. The purchase of Office Depot China allows M&G to expand into another new market. The company has identified its niche in offering a premium quality benchmark across all categories of stationery, including writing instruments and paper, to home office accessories like staplers and desk storage, through to more craft-based items.
Its UK market presence also continues to grow—its new UK catalogue is nearly double the size of the previous year’s, and includes product from some of the brands that buy from M&G such as Miffy.
UK market penetration by the UK agent for M&G, PCC Office Supplies Ltd, has made steady progress with average year-on-year growth of 30%. The new range will help to maintain momentum as more retailers, schools and B2B dealers adopt the brand.
Robert Oxborough, managing director of PCC, said: “For the sixth year we have frozen prices. This is quite the opposite to the majority of other brands and product areas within the industry where regular price increases are endemic. This is possible because M&G are reducing their prices to us here in the UK, possible due to improved production efficiency as their global business has grown. The effect has been to negate the fall in the value of the pound against the dollar, enabling price stability. Our intention is to continue to add to the UK product range, responding to requests from our customers as required.”