About AMERICAN GREETINGS CORPORATION

American Greetings has been building its sturdy house of cards for more than a century. The #2 US maker of greeting cards (behind Hallmark), the company makes American Greetings, Carlton Cards, Gibson, Recycled Paper Greetings, and pricey Papyrus brand missives. While greeting cards make up about 75% of sales, the company also produces DesignWare party goods and Plus Mark gift wrap. The company's AG Interactive subsidiary distributes online greeting cards and other interactive media. American Greetings' products are sold through card and stationery stores, mass merchants, and other retail outlets worldwide. American Greetings, which is owned and run by the family of its chairman Morry Weiss, was founded in 1906.

Operations

Wal-Mart and Target together represent about 30% of American Greetings' sales. The company's core business continues to rest on traditional greeting cards and other printed products, a market segment that has largely consolidated around Hallmark and American Greetings. However, technology is rapidly changing the way people communicate and interact, putting the greeting card business into competition with online social networks such as Facebook and photo sharing services such as Flickr (owned by Yahoo!).

Geographic Reach

Cleveland-based American Greetings rings up about 70% of its sales in the US. The UK contributed more than 25% of sales.

Financial Performance

American Greetings generates annual revenue of about $1.9 billion.

Strategy

The company is struggling with a decline in its core business: paper greeting cards. (Why bother to buy and mail a card when you can send birthday greetings via Facebook in just seconds?) To stay relevant in the digital age, the company is focused on developing and acquiring interactive technologies and other new products to expand its offerings. AG Interactive boasts about 4 million subscribers who have unlimited access to its e-cards and ringtones. At the same time, American Greetings continues to expand its traditional cards business through organic development.

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AMERICAN GREETINGS CORPORATION

1 American Blvd
Cleveland, OH 44145-8151
Phone: 1 (216) 252-7300
Fax: 1 (216) 252-6751

Stats

  • Employer Type: Private
  • Co-CEO: Zev Weiss
  • Co-CEO: Jeffrey M. Weiss
  • Co-CEO: Zev Weiss
  • 2016 Employees: 27,500

Major Office Locations

  • Cleveland, OH

Other Locations

  • Fairfield, CA