ELMSFORD, N.Y. --(BUSINESS WIRE)--
In the days leading up to Valentine’s Day, Americans will spend approximately $18 billion on related merchandise, according to the National Retail Federation -- everything from chocolates to flowers to fine champagne.
In Eden Prairie Minnesota, Anagram, a wholly owned subsidiary of Party City (NYSE:PRTY), manufactures and distributes globally a full portfolio of balloon products for the big day, including one of the most popular Valentine’s items: foil heart-shaped balloons. With an estimated worldwide market share of approximately 60% of the metallic balloon market, Anagram is the clear leader in this product category.
Jim Plutt, President of Anagram, stated “Valentine’s Day is one of the busiest times of the year for balloons, as consumers are looking for creative ways to communicate through this very special form of social expression. We are extremely proud that we can be a part of this fun and romantic holiday. Our wide and innovative Valentine’s Day product offering includes musical balloons and multi-dimensional and intricate shapes that meet the full spectrum of consumer tastes, from juvenile to adult.
Anagram’s product development team actually starts its design process several months leading up to Valentine’s Day, and sells the various shapes and sizes not just to its affiliated Party City stores, but also to other retailers, florists and grocers around the world.
Founded in 1980, Anagram today employs more than 340 people at its 115,000 sq. ft. facility in Minnesota and is one of six U.S. based manufacturing operations within the Party City Holdco, Inc. portfolio of companies.
“To meet the growing demand, we constantly have to come up with smart ways to expand our distribution channels to areas outside of the traditional retail storefront. One of the great benefits of having our manufacturing based in the United States is our ability to bring new and innovative products to market quickly,” said Party City CEO Jim Harrison.
“Valentine’s Day provides a good example of the strength of our business model because it leverages our manufacturing, distribution and wholesaling businesses with our retail business. In fact, 75 percent of all the products you will find in our Party City stores flow through our vertical model.”
About Party City
Party City Holdco Inc. is the leading party goods company by revenue in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue. The Company is a popular one-stop shopping destination for party supplies, balloons, and costumes. In addition to being a great retail brand, the Company is a global, world-class organization that combines state-of-the-art manufacturing and sourcing operations, and sophisticated wholesale operations complemented by a multi-channel retailing strategy and e-commerce retail operations. The Company is the leading player in its category, vertically integrated and unique in its breadth and depth. Party City designs, manufactures, sources and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Company’s retail operations include over 900 specialty retail party supply stores (including approximately 180 franchise stores) throughout North America operating under the names Party City and Halloween City, and e-commerce websites, principally through the domain name PartyCity.com.
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