BIC announces growth in e-commerce
| 13 February, 2020
BIC has given an update on its stationery sales. While markets continued to be challenging, BIC says it pursued growth in e-commerce and invested in innovative products.
While Europe grew low-single digit and North America was flat, 2019 performance was negatively impacted by the decrease in Cello Net Sales in India. Full Year 2019 Stationery Normalized IFO margin was 6.2% compared to 8.1% in 2018 due to higher Raw Material costs and unfavorable exchange rates.
BIC said it outperformed overall flat markets in Europe, growing shares in key countries such as France and the U.K. Its added-value products, including BIC®Gelocity Full Grip and BIC® Intensity Medium felt pen performed well. It’s e-commerce business grew 14% versus the prior year.