Writing instruments maker Linc Pen & Plastics Ltd has entered into a partnership with Chinese stationery company Deli to market its products in India, an official said Monday.
Deli Group Co Ltd is a USD 2 billion company and is the largest stationery manufacturer in Asia.
We believe in strategic partnerships which enhance our brand portfolio and also address the needs of the market. Indias stationery market revenues are projected to grow at a CAGR (compounded annual growth rate) of 10.5 per cent during 2018-24," Linc Pen Managing Director Deepak Jalan said.
The demand for stationery products in India is increasing rapidly because of the improved standard of living and the shift in focus from inexpensive to premium quality products.
In the June quarter, the company's turnover was Rs 83 crore, down from Rs 103 crore in March 2018 quarter.
"We always look for long term partnerships with brands that have strong presence in their markets and we feel this can turn out to be a bright opportunity as we begin our journey in India, Deli spokesperson Amanda Wang said.
Deli is present in more than 100 countries with two primary stationery segments -- Deli School and Deli Office.
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