Looks to invest 10 crores in expansion.
Printo, the organized high street retail giant in the digital printing space has acquired 100% of The Print Bazaar, a multi-service print shop in the NCR region, from the Alia Group.
Commenting on the development, Printo CEO, Balu lyer says, “We believe consolidation gives us a competitive advantage and we can collectively grow faster. When I joined Printo, my ambition was to make this a national brand, which served customers across most metros. With the Print Bazaar acquisition we have not only fulfilled this goal, but also created a platform that will help us penetrate deeper into the north India market. I compliment Sanjeev and his team in building a customer-focused brand in a very tough market. I am delighted to work with the new team and warmly welcome them into the Printo family.”
“The acquisition helps us achieve economy of scale and be part of a platform that serves customers at a pan India level. It will help us learn from each other’s experience and grow in larger geographies. Large corporates want a single supplier. National presence will help us cater to the needs of both SME’s and these large corporate,” shared Sanjeev Malhotra, Founder & CEO, Alia Group. Print Bazaar marks the fourth exit by the group; the earlier being the one acquired by Future Group, an IT major and a large French International conglomerate.
“This acquisition lays the foundation for India’s largest business services brand. Printo expects to invest upto 10 crores to grow its NCR and national footprint aggressively, over the next few years,” shared Manish Sharma, Co-Founder and Chairman, Printo. “In all emerging markets print and retail print is growing at double digits. This is a consumption led industry and with increasing consumerism, quick service print is booming. At Printo we believe the big growth lies in creating a platform that combines retail instant gratification with omni-channel access for customers,” he further added.
There has been a consolidation in the digital print space as the market gets more organized and professional, signaling growth in consumption led demand. Print Retail industry is growing at 20 % and is expected to be a $7Bn industry by the year 2020. Printo boasts a wide print network with a national presence comprising 30 stores and 3 regional hubs spread across 6 cities. Headquartered in Bangalore, Printo makes printing a simple and hassle-free process for both business customers and individuals. Printo’s customers can order via a mobile app or the website and pick up at a store the same day or have it delivered to their office / home.