GLOBAL celebrations group Amscan International has unveiled the results of a major rebrand.
The Milton Keynes-based designer, manufacturer, distributor, wholesaler and retailer of party products has rebranded as Wonder and has set itself a revenue target of £500 million b 2026 – an increase of 40 per cent.
The increase is in line with the rise in turnover it has enjoyed this year, to £300 million. The rebrand is a key element of the group’s continued implementation of its global strategic growth plan.
It follows the announcement in September by the business that it had acquired Sweden-based online retailer Party King to further expand into the Nordics.
“Our old group name did not reflect the dynamic, global, multi-channel, multi-product group of leading brands and businesses we are today,” said Wonder’s chief executive Joe Hennigan pictured top. “It also caused confusion between our group and the trading name for our wholesale business.”
In addition to its UK operations based at Brinklow in Milton keynes, Wonder has offices in Germany, Sweden, Australasia, Asia and Africa. The company employs around 2,500 people worldwide and its retail brands include the UK’s largest online party store Party Delights, Ginger Ray and several other brands across 15 countries.
Mr Hennigan said: “Our existing product and trading brands will continue to exist and be used as they are today. They will all be part of the Wonder family of companies.”
The company underwent a management buyout in January last year, backed by private equity house Endless. It has since expanded through acquisitions and organic growth and will continue to target new and existing markets to grow its direct to consumer revenues, which currently sit at £100 million, Mr Hennigan said.
“We have grown quickly since the MBO,” he added. “With Endless’s backing, we will continue to remain acquisitive while investing heavily in our people, processes and technologies to provide the platform for sustainable profitable growth.
“Our £500 million revenue target by 2026 is ambitious but we believe we have the knowledge, expertise and capabilities to continue to build on our momentum and make it happen.”