American Greetings – Wikipedia

American greeting calling card company

American Greetings Corporation is a privately owned american company and is the world ‘s second largest greeting card producer behind Hallmark Cards. [ 2 ] [ 3 ] Based in Westlake, Ohio, a suburb of Cleveland, the company sells paper greet cards, electronic greet cards, gift promotion, stickers and party products. In addition, the caller owns the Carlton Cards, Tender Thoughts, Papyrus, Recycled Paper Greetings and Gibson brands. [ 4 ] [ 5 ] American Greetings ‘s early toy design and license division, initially called Those Characters From Cleveland, subsequently renamed AG Properties and American Greetings Entertainment and now individually owned as Cloudco Entertainment. american english Greetings besides holds an single license for Nickelodeon characters.

history [edit ]

Sapirstein Greeting Card [edit ]

Sapirstein Greeting Card Co. was founded in 1906 by polish immigrant Jacob Sapirstein [ 4 ] ( 1885–1987 ), who sold cards to stores from a cavalry -drawn haul, American Greetings has been run by members of the syndicate since its origin. [ 2 ] Irving Sapirstein, Jacobs ‘s oldest son, became Jacob ‘s first partner in 1918 at age nine. Irving ‘s buddy Morris started working at the poster company in 1926. Morris and Irving in 1928 got a post card shrink worth $ 24,000. The ship’s company started using self-serve display cabinets for its greeting cards in 1929 further cementing its position in the market. Sapirstein Greeting began in 1932 making its own greeting cards. [ 6 ] In 1934, the party began hiring sales representatives. Harry, the youngest son, joined the business in 1935. In 1936, the company opened its foremost branch agency and the first major manufacture facility. [ 6 ]

american Greetings [edit ]

Sapirstein Greeting Card Co. was renamed in 1938 to American Greetings Publishers. In 1939, the firm first issued the Forget-Me-Not poster line. irving and his brothers changed their last name to Stone in the 1940s. american Greeting Publishers was incorporated in 1944. John Sands Pty. Ltd. of Sydney, Australia and the company signed a license agreement, the firm ‘s beginning, in 1949. [ 6 ] The company changed its name to American Greetings Corporation as the party went populace in 1952, issuing 200,000 shares. The funds raised were earmarked for acquisitions and expansion. In 1956, American Greetings formed Carlton Cards, Ltd., a canadian auxiliary. besides that class, the Hi Brows humor studio card line was launched. [ 6 ] In July 1957, the company moved its headquarters to One American Road, Brooklyn, Ohio. In 1958, American Greetings went public. [ 2 ] Jacob Sapirstein became chair of the dining table while Irving assumed the ship’s company ‘s president post in 1960. In Forest City, North Carolina, the company build a cabinet manufacture plant in 1960. A mexican subsidiary company in Mexico City was set up in 1969. In 1971, a retail auxiliary was formed called Summit Corporation, late called Carlton Cards Retail, Inc. [ 6 ] holly Hobbie premiered in 1967 as a line of greeting cards by american Greetings. [ 7 ] The character ‘s public appeal moderate to the constitution of Those Characters From Cleveland, Inc. Sale the next year topped $ 100 million. In 1972, the company introduced Ziggy, created by Tom Wilson, which soon had a newspaper cartoon plunder generating extra income. By 1977, Holly Hobbie became one of the top female licensed character in the world. [ 6 ] Morry Weiss, Irving ‘s son-in-law, and Irving Stone in 1978 were appointed president and president & CEO, respectively. besides in 1978, the pot set up two new subsidiaries Plus Mark, Inc. and A.G. Industries, Inc. Plus Mark was formed to manufacture Christmas gift envelop, boxed cards, and accessories. A.G. Industries was a display fastness manufacturer. american english Greeting had seen itself as a mass-marketer and was serving pharmacies, kind stores, dismiss stores, and supermarkets with broken cost cards. meanwhile, Hallmark Cards ignored the mass market outlets until 1959 with issue of its Ambassador card note. The company then used its license gross on national advertise and other efforts to gain marketplace parcel from 1981 to 1985. While they had a net income income increase of 613 percentage over ten-spot years, Hallmark however maintained its grocery store partake. Gibson Greetings started a price war in 1986 and ended in 1987 which had the three major greeting calling card companies taking a loss. With a fell in license tax income, American took until 1989 to recover. [ 6 ] Those Characters From Cleveland was started up by Tom Wilson on behalf of american Greetings [ 8 ] in 1980. The first property out of Those Characters was Strawberry Shortcake, which generated in 1981 $ 500 million in retail sales, followed by the Care Bears with $ 2 billion in sales over its first two years. [ 6 ] AG came spinal column with a double net income by 1991 with 10 percentage growth in sales to Hallmark ‘s 1 percentage. Weiss was promoted to CEO while Ed Fruchtenbaum was elevated as the one-fourth and first base non-family president of the united states. Weiss had streamlined operations, cut costs, and decreased its wag theme development clock time frame to marketplace. Fruchtenbaum stressed information systems technology with the growth of software to aid the sales push, to managers and their retailers in order to track inventories and trends. The follow year, Weiss and Fruchtenbaum were promoted again to chairman/CEO and president/chief operating policeman, respectively, with Irving Stone becoming founder-chairman. [ 6 ] Custom Expressions, Inc., the CreataCard producer, was acquired in 1992, The CreataCard units had 1,000 tease options and print cards in under four minutes for $ 3.50 each. The ship’s company placed a few thousand units in mass-merchandise outlets in the US. By early 1994, 7,000 were installed. The kiosks generated meek profits off goodly tax income. With the Touch Screen Greetings and the Personalize It ! method acting, Hallmark in 1992 sued AG over patent misdemeanor with a 1995 village that allow both to use the technology worldwide. By 1995, the kiosks were being left behind by personal computers and the internet. The units were partially written off. american had besides made deals with on-line services, Prodigy, CompuServe, and Microsoft Network in early 1996. Their web site was redesigned to allow the cards to be designed on the web site then mailed from its Cleveland fulfillment center in 1997. Two cd-rom products, Personal CardShop for Home and Office and CreataCard Plus, were published. Both allowed for personalization. CardShop had 150 poster choices and used the modem to order them to be printed and mailed by their fulfillment center. CreataCard had 3,000 predesigned greet cards, invitations, stationery, and announcements, and three methods of fulfillment : print on home printer, by electronic mail or via the company ‘s center. [ 6 ] In the mid-1990s, American Greetings expanded it operations with acquisitions or starting up of newfangled lines of business, and starting in 1996, the forwarding of avocation merchandise categories to semi-autonomous units. A read glasses manufacturer, Magnivision, was purchased in 1993. In 1996, the party goods note was relaunched under the DesignWare identify. besides in 1996, American Greetings entered discussions with BEC Group Inc. to acquire Foster Grant Group, a sunglasses manufacturer, but declined to pursue the purchase. A candle line was relaunched in 1997 under the name GuildHouse. A supplementary educational products auxiliary, Learning Horizons, Inc., was set up in March 1997. however, in August 1997, American Greetings sold two subsidiaries, Acme Frame Products, Inc. and Wilhold Inc., producer of hair accessory products, to Newell Brands. Contempo Colours, a party goods company in Michigan with licenses included Monopoly and Sesame Street, was bought in August 1999 to add to DesignWare. [ 6 ] In Canada, the Forget-Me-Not sword was launched in 1993. In July 1997, American Greetings launched its “ The All New american Way ” commercialize strategy that consisted of massive vamp of its everyday menu lines over the following year and a half to meet nine American cultural trends. [ 6 ] In the 1990s, American Greetings pushed more into international markets. Acquisition occurred in 1995 with a purchase of 80 % share of S.A. Greetings Corporation in South Africa and in 1996 with the purchase of John Sands, the top greet wag company in both Australia and New Zealand. In 1998, Camden Graphics Group and Hanson White Ltd. were purchased to add to its UK operations. While in 1999, a majority post in Memory Lane Sdn Bhd, a malaysian greeting menu ship’s company, bring american english to Asia for the first time. [ 6 ] American Greetings made a bid for Gibson Greetings, the third base clear card godhead in the US, in March 1996, which was rejected. [ 6 ] In 1999, the company agreed to buy rival Gibson Greetings and united the second and third largest U.S. greeting calling card makers. [ 9 ] Through the Gibson purchase, American gained its strong UK unit and a 27 % stake in Egreetings Network Inc. [ 6 ] In 1998, the company shares moved from trade on the NASDAQ to the New York Stock Exchange. AmericanGreetings.com, Inc., while not turning a profit, was announced in June 1999 to be taken public, but was withdrew due to the early 2000 technical school stock collapse. [ 6 ]

In March 1999, Hallmark started a price war with the insertion of a 99-cent tease line forcing American to do the lapp. In 1999, the implementation of a fresh inventory system slowed shipments to retailers. however, this reduced sales by $ 100 million, a 1.5 % decrease, ending a 93rd consecutive year of increasing gross. [ 6 ] Fruchtenbaum was terminated in June 2000 for insider trade policy irreverence after the board learned that he purchased broth via options, then sold them in December 1998 before the announcement of the fresh stock system execution ‘s expected loss. Board member James C. Spira was then appointed vice-chairman. [ 6 ] In November 2000, Spira was appointed to oversee a massive renovation. The company cut 1,500 jobs, closed six manufacture and distribution centers, discontinued Forget-Me-Not, one of its four independent U.S. calling card brands, and cut the offered greet cards to 10,000 from 15,000. The firm besides shifted to recognizing sales at the retailer ‘s cross-file, not when it was stocked on the retailer ‘s shelves in club to better control inventory. This price them $ 300 million, and was highly unprofitable in the 2001 and 2002 fiscal years. [ 6 ] In its on-line sector in 2001, American Greeting buy the Egreetings Network shares that Gibson did not already own. [ 6 ] In January 2002, the company purchased Blue Mountain Arts ( BlueMountain.com ) from Excite @ Home with Excite to buy ads on american Greeting websites and Blue Mountain would continue providing ecards for Excite. [ 10 ] The company therefore had four on-line greet cards website including BeatGreets.com, a melodious greetings web site. [ 6 ] While the on-line operations expected to become profitable by the fourth quarter 2002, [ 10 ] the division had a lower loss than in the prior class. [ 6 ] In 2003, Morry Weiss ‘s sons, Zev and Jeffrey, became CEO and President respectively ; Morry Weiss remained Chairman. American Greetings had besides branched out onto the internet and owned a net of websites. October 25, 2007, American announced the purchase of Webshots from CNET for $ 45 million in cash. [ 11 ] In July 2004, American Greetings sold MagniVision to an affiliate of Foster Grant sunglasses manufacturer. [ 12 ] In October 2005, American Greetings recalled its Sesame Street toy sunglasses sold from December 2003 through August 2005, because the lenses can separate from the frames, posing a choking guess to young children. [ 13 ] american english Greetings on February 24, 2009 purchased Recycled Paper Greetings. In two cash deals with Schurman Fine Papers on April 17, 2009, the company sold its remaining 341 stores to them, and in the moment deal bought Schurman ‘s wholesale division, Papyrus brand cards and newspaper products, and a 15 % equity stake in Schurman. [ 14 ] In April 2010, the company closed its DesignWare plant in Kalamazoo as the ship’s company moved to Amscan for manufacturing their party goods. american Greetings received $ 25 million and a guarantee for 2 percentage of coarse banal in AAH Holdings, Amscan ‘s rear pot, while Amscan received stock, equipment and processes. [ 15 ] In Mexico, the ship’s company moved strategically to a third party distributor model and closed its warehouse there. [ 16 ] In 2010, American Greetings announced plans to move its headquarters from Brooklyn, Ohio to a new facility at Crocker Park within the nearby city of Westlake. [ 17 ] however, in 2013, the company announced it would delay moving its operations to Westlake. construction had been scheduled to start in early 2013, and American Greetings said it was only delaying the $ 150 to $ 200 million project. [ citation needed ] In 2014, American Greetings sold its Brooklyn, Ohio headquarters to developers and began renting its current offices from the new owners until the move to Westlake. [ 18 ] american Greetings opened their new Westlake headquarters in September 2016. [ 1 ] The party leases the construct from the Wiess family until August 2031. [ 4 ] american english Greetings forced Clinton Cards PLC in May 2012 into government. [ 19 ] In June, American Greetings acquired assets from Clinton Cards together with some of its subsidiaries including UK Greetings. UK Greetings ‘ card brands at the time were Camden Graphics, Hanson White, Forget Me not and Xpressions. Clinton operated stores under the Clinton and Birthdays brands. [ 20 ] american Greetings brought in Dominique Schurman, CEO of Schurman Retail Group, to lead Clinton. [ 19 ]

private pot [edit ]

American Greetings went individual once again in mid-2013, thus removing itself from all the public markets, agreeing to pay $ 18.20 per share, valuing the company at $ 878 million. The wei family-owned Century Intermediate Holding Co. purchased the public shares. [ 2 ] In 2018, the Weiss class sold a 60 % majority stake of the party to the investing firm Clayton Dubilier & Rice ( CD & R ). [ 4 ] The Weiss Family would continue to operate as directors and shareholders of american Greetings [ 4 ] deoxyadenosine monophosphate well as retain ownership of american Greetings Entertainment, which was spun off as Cloudco Entertainment. [ 21 ] UK Greetings continued with american english Greetings under CD & R while the Clintons retail chain in the UK remained with the Weiss family. [ 22 ] On closure of the batch, David Scheible was named Chairman in seat of Morry Weiss and President John Beeder was promoted to CEO ( the former chair and co-CEOs remaining on the board ). [ 4 ] In January 2019, the Weiss family placed AG ‘s headquarter up for sale. [ 4 ] Scheible had been replaced by John Compton as chair. On March 1, 2019, the retiring CEO Beeder was replaced by Joe Arcuri. [ 23 ] Partially owned Schurman Retail Group announced in January 2020 that it would close all of its stores, including its american Greetings locations. [ 24 ]

Gibson Greetings [edit ]

Acquired in 1999, Gibson was founded by brothers George, Robert, Samuel and Stephen in 1855 as Gibson & Company, Lithographers in Cincinnati. It finally began making greeting cards in 1860s and 1870s, sold to brother George as Gibson Arts in 1883 and Gibson Greeting Cards Inc. in 1960. [ 25 ] After being under RCA Corporation and other owners was sold to american Greetings .

Units [edit ]

american Greetings operates with four divisions : [ 26 ] [ 16 ]

  • North American Social Expression Products
  • International Social Expression Products
  • AG Interactive (Webshots was formerly part of AG Interactive)[27]
  • a non-reportable operating segment, sometimes referred to as “Retail”[26]

Subsidiaries and holdings [edit ]

  • John Sands (company), Australian subsidiary
  • Schurman Retail Group (15%) runs American Greeting retail stores
  • UK Greetings, British subsidiary

Cartoonists [edit ]

Cloudco Entertainment [edit ]

See besides [edit ]

References [edit ]

Official web site

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