William Penn, a multi-brand retailer, and distributor of writing instruments and accessories, announced the acquisition of Sheaffer, a 110-year-old renowned American company recognized for its high-quality fountain pens.
The Bengaluru-based company has purchased Sheaffer’s entire product portfolio and licenses, including luxury pens, notebooks, and gift sets. William Penn did not reveal the purchase price.
As part of the deal, it will take over Sheaffer’s production, marketing, and retailing operations in 75 countries, including the United States, the United Kingdom, Mexico, Malaysia, Thailand, South Africa, Japan, and India.
This is William Penn’s second acquisition since 2016, when it purchased the British firm Lapis Bard and expanded into men’s accessories such as leather bags, wallets, cufflinks, watch chests, and pen cases.
” We had the chance to purchase this renowned brand, and it was a fantastic match.” From India, we will now develop, produce, and sell the brand. We regard the present purchase as a fantastic chance to improve on the preferences and tastes of Indian customers while also taking global demands into account when developing new Shedder models and lines. In India, the American brand has a 15% market share in the premium writing tools area. In an interview, Nikhil Ranjan, founder and managing director of William Penn, stated, “We intend to quadruple this market share in the next three years.”
William Penn has been the exclusive dealer of Sheaffer in India since 2003. It sells and distributes various worldwide brands in the nation, including Montblanc, Cross, Pelikan, and Sailor.
It intends to establish distribution centers in India and elsewhere following the acquisition of the Sheaffer brand. According to Ranjan, the company wants to extend its product line beyond writing implements to premium stationery and wallets, calling it a “huge potential.” In the long run, William Penn may open Sheaffer outlets.
“We are tremendously happy with the demand for Sheaffer goods that we have generated since purchasing the brand in 2014, not just among diehard Sheaffer enthusiasts but also among new consumers.” “William Penn is in an excellent position to seize the reins and continue Sheaffer’s growth and global expansion,” stated James Miranda, CEO of A.T. Cross Company.
William Penn now has 25 locations in India, including retail outlets at major airports.
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