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Paperchase (company)
Encyclopedia
Paperchase is an international chain of stationery stores which were established in the United Kingdom
but have since expanded into the USA. As well as stand alone stores, there are Paperchase concession
s in selected House of Fraser
, Waterstones and Selfridges
stores. Since 2004, Paperchase concessions have been included in over 300 Borders stores in the USA; in 2007 it was announced that the first American stand alone store would be opened in Boston. The head of the company is the seventh Earl of Minto
.
backed the Paperchase directors in a management buyout of the original chain of 12 stores for £1m from WH Smith, and the company has since been officially known as Paperchase Products Ltd.
In 1999, Borders Group
bought a 15% stake of the Paperchase company and increased this share to 97% in 2004, when it bought out the rest of Graphite Capital's share for £18.6m.
The four Paperchase directors retained the other 3% share between them.
In 2007 Borders sold a a majority stake in the UK and Irish division of Paperchase to Risk Capital for £10million.
In May 2008, the Borders Group announced it was considering selling its 97% share to one of either HgCapital, Isis Equity Partners or Change Capital, with W H Smith interested in putting in a £50million bid - 12 years after selling it at £1m.
With the administration and closure of Borders in the United Kingdom
in late 2009, the company lost a large presence on the british high street as there was a Paperchase concession within every UK Borders. The UK division of Borders separated from its parent and the owner of Paperchase in 2007, and all Border stores were closed on 22 December 2009. To replace these lost UK retail sites, Paperchase concessions were formed in a number of hmv
and Waterstones stores during 2010.
In July 2010, Paperchase was sold by Borders to Primary Capital for $31m (£20m).
As of October 2011, Paperchase has over 100 retail points of sale, made of up a mix of concessions and standalone stores. These are based primary in the UK, with several in Dubai and a few in Denmark.
In addition to this, Paperchase also buys half of its products from third party suppliers, mainly their gift cards and everyday stationary. In larger stores, they stock Filoxfax, Moleskine
and Waterman
products.
Paperchase is the brand leader in stocking innovative and design-led greetings cards, with thousands of ranges stocked in each store. They produce their own greetings cards, but buy in a large amount of third party cards.
, Harrods
, Waterstones, HMV
and House of Fraser
, and standalone stores. They are based mainly within the UK, but with stores expanding to Dubai
United Arab Emirates
and Denmark
.
Paperchase invest heavily in Visual Merchandising
and their stores are creatively organised, with notebooks organised by height and type. Often products will be suspended from ceilings as part of displays. Their flagship store at Tottenham Court Road
and is known as 'Paperchase Heaven'.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
but have since expanded into the USA. As well as stand alone stores, there are Paperchase concession
Concession (contract)
A concession is a business operated under a contract or license associated with a degree of exclusivity in business within a certain geographical area. For example, sports arenas or public parks may have concession stands. Many department stores contain numerous concessions operated by other...
s in selected House of Fraser
House of Fraser
House of Fraser is a British department store group with over 60 stores across the United Kingdom and Ireland. It was established in Glasgow, Scotland in 1849 as Arthur and Fraser. By 1891 it was known as Fraser & Sons. The company grew steadily during the early 20th century, but after the Second...
, Waterstones and Selfridges
Selfridges
Selfridges, AKA Selfridges & Co, is a chain of high end department stores in the United Kingdom. It was founded by Harry Gordon Selfridge. The flagship store in London's Oxford Street is the second largest shop in the UK and was opened on 15 March 1909.More recently, three other stores have been...
stores. Since 2004, Paperchase concessions have been included in over 300 Borders stores in the USA; in 2007 it was announced that the first American stand alone store would be opened in Boston. The head of the company is the seventh Earl of Minto
Timothy Elliot-Murray-Kynynmound, 7th Earl of Minto
Timothy Lariston Elliot-Murray-Kynynmound, 7th Earl of Minto , styled Viscount Melgund between 1975 and 2005, is the head of British company Paperchase. He is the son of the late Gilbert Elliot-Murray-Kynynmound, 6th Earl of Minto and his first wife, Lady Caroline Child Villiers...
.
History
The first Paperchase stores were opened in the UK in the early 1970s, and has had a very varied ownership during the 1990s and 2000s. In 1996 the private equity group Graphite CapitalGraphite Capital
Graphite Capital Management is a private equity firm focused on middle market leveraged buyout investments, primarily in the UK. The firm also houses a fund of funds platform that invests in other private equity funds across Europe and the US...
backed the Paperchase directors in a management buyout of the original chain of 12 stores for £1m from WH Smith, and the company has since been officially known as Paperchase Products Ltd.
In 1999, Borders Group
Borders Group
Borders Group, Inc. was an international book and music retailer based in Ann Arbor, Michigan. The company employed approximately 19,500 throughout the U.S., primarily in its Borders and Waldenbooks stores....
bought a 15% stake of the Paperchase company and increased this share to 97% in 2004, when it bought out the rest of Graphite Capital's share for £18.6m.
The four Paperchase directors retained the other 3% share between them.
In 2007 Borders sold a a majority stake in the UK and Irish division of Paperchase to Risk Capital for £10million.
In May 2008, the Borders Group announced it was considering selling its 97% share to one of either HgCapital, Isis Equity Partners or Change Capital, with W H Smith interested in putting in a £50million bid - 12 years after selling it at £1m.
With the administration and closure of Borders in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
in late 2009, the company lost a large presence on the british high street as there was a Paperchase concession within every UK Borders. The UK division of Borders separated from its parent and the owner of Paperchase in 2007, and all Border stores were closed on 22 December 2009. To replace these lost UK retail sites, Paperchase concessions were formed in a number of hmv
HMV
His Master's Voice is a trademark in the music business, and for many years was the name of a large record label. The name was coined in 1899 as the title of a painting of the dog Nipper listening to a wind-up gramophone...
and Waterstones stores during 2010.
In July 2010, Paperchase was sold by Borders to Primary Capital for $31m (£20m).
As of October 2011, Paperchase has over 100 retail points of sale, made of up a mix of concessions and standalone stores. These are based primary in the UK, with several in Dubai and a few in Denmark.
Design
Paperchase bases it products on strong design and is famous for having designers focus on current fashion trends. The company designs and produces hundreds of products under its own brand name 'Paperchase'. Like a fashion chain, they release 'collections' several times a year. Each collection is made up of one pattern, which is then applied to a number of different stationary, home and luggage products. These range from notebooks, pens, mugs and bags. The pattern is often applied to matching greeting cards, wrap and gift bags. The company also makes a basic range for everyday stationary.In addition to this, Paperchase also buys half of its products from third party suppliers, mainly their gift cards and everyday stationary. In larger stores, they stock Filoxfax, Moleskine
Moleskine
Moleskine is a brand of notebooks, planners, diaries, sketchbooks and albums manufactured by Moleskine Srl, an Italian company based in Milan...
and Waterman
Waterman
Waterman may refer to:* Watermen, river workers who transferred passengers across and along the city centre rivers in Britain* Waterman Or Waterperson. Someone who takes part in multiple water activities...
products.
Paperchase is the brand leader in stocking innovative and design-led greetings cards, with thousands of ranges stocked in each store. They produce their own greetings cards, but buy in a large amount of third party cards.
Stores
Paperchase has over 100 stores internationally, made of up concessions within SelfridgesSelfridges
Selfridges, AKA Selfridges & Co, is a chain of high end department stores in the United Kingdom. It was founded by Harry Gordon Selfridge. The flagship store in London's Oxford Street is the second largest shop in the UK and was opened on 15 March 1909.More recently, three other stores have been...
, Harrods
Harrods
Harrods is an upmarket department store located in Brompton Road in Brompton, in the Royal Borough of Kensington and Chelsea, London. The Harrods brand also applies to other enterprises undertaken by the Harrods group of companies including Harrods Bank, Harrods Estates, Harrods Aviation and Air...
, Waterstones, HMV
HMV
His Master's Voice is a trademark in the music business, and for many years was the name of a large record label. The name was coined in 1899 as the title of a painting of the dog Nipper listening to a wind-up gramophone...
and House of Fraser
House of Fraser
House of Fraser is a British department store group with over 60 stores across the United Kingdom and Ireland. It was established in Glasgow, Scotland in 1849 as Arthur and Fraser. By 1891 it was known as Fraser & Sons. The company grew steadily during the early 20th century, but after the Second...
, and standalone stores. They are based mainly within the UK, but with stores expanding to Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
and Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
.
Paperchase invest heavily in Visual Merchandising
Visual merchandising
Visual merchandising is the activity and profession of developing floor plans and three-dimensional displays in order to maximise sales.Both goods or services can be displayed to highlight their features and benefits...
and their stores are creatively organised, with notebooks organised by height and type. Often products will be suspended from ceilings as part of displays. Their flagship store at Tottenham Court Road
Tottenham Court Road
Tottenham Court Road is a major road in central London, United Kingdom, running from St Giles Circus north to Euston Road, near the border of the City of Westminster and the London Borough of Camden, a distance of about three-quarters of a mile...
and is known as 'Paperchase Heaven'.