Card Factory

Card Factory plc
Formerly
  • CF Listco Limited 17–30 April 2014)[1]
  • Card Factory Limited (30 Apr 2014)[1]
Company typePublic company
LSE: CARD
IndustryRetail
Founded1997; 28 years ago (1997)
FoundersDean & Janet Hoyle
HeadquartersWakefield, West Yorkshire
Area served
United Kingdom
Key people
  • Geoff Cooper (Chairman)
  • Darcy Willson-Rymer (CEO)
ProductsGreeting Cards, Calendars
RevenueIncrease £463.4 million (2023)[2]
Increase £63.8 million (2023)[2]
Increase £44.2 million (2023)[2]
Owner
Websitecardfactory.co.uk
Card Factory, Southside Wandsworth, London
Card Factory store in Huddersfield, West Yorkshire
Card Factory store in Mullingar, Westmeath, Ireland

Card Factory plc is a retailer of greeting cards and gifts in the United Kingdom founded in Wakefield by Dean Hoyle and his wife Janet. The first store opened in 1997, and by 2020 the company had over 1,000 stores.[3] The company also operates two retail websites and has mobile apps for both iPhone and Android. It is listed on the London Stock Exchange.

History

Origins to 2009

Dean Hoyle left school with no qualifications, having a self confessed greater interest in football.[4] With his wife Janet, from 1993 they began buying cards wholesale, and selling them from the back of their van at car boot sales and public open air events.[4]

In 1997, they opened their first shop under within the holding company Sportswift Ltd, purposefully choosing secondary retail locations which were cheaper.[4] After opening a few stores, whilst Janet founded and headed up the internal design and print function, Dean concentrated on expanding the business, with a nominal target of 500 retail outlets.[4] This gave the company a profit margin advantage over rivals, including Clinton Cards.[5]

The couple built a board to expand the business, including: Keith Pacey (chairman of Maplin); Richard Hayes (managing director, their ex bank manager); Chris Beck (commercial director, ex Grant Thornton); Darren Bryant (group finance director, ex PricewaterhouseCoopers).[4] On 28 November 2008, Card Factory purchased about 80 of the 288 stores from failed greetings card company Celebrations Group (which traded as Card Warehouse and Cardfair), as part of a rescue package, securing around 500 of the 1,800 jobs at Celebrations.[6]

2010s

The couple put the business up for sale in January 2010[4] and on 8 April 2010, Charterhouse completed the £350 million purchase of the company which at the time operated 480 stores.[7] This enabled Dean Hoyle to later buy Huddersfield Town F.C.[4]

On 14 July 2011, Card Factory purchased gettingpersonal.co.uk, an online retailer of personalised gifts, for an undisclosed sum.[8]

In May 2014, the company floated via an initial public offering on the London Stock Exchange.[5]

In April 2015, the company launched its own website, cardfactory.co.uk.[9]

In 2019, the company began supplying cards to Aldi, Matalan and The Reject Shop.[10]

2020s

Card Factory shops were shut for much of 2020 and the beginning of 2021 due to the COVID-19 pandemic. Revenue from the website more than doubled during this period,[11] and the website was relaunched in August 2020 to enable cards to be personalised,[12] matching similar offerings to Moonpig and Funky Pigeon. In late 2020, the company launched mobile apps for both iPhone and Android devices.[13] In December 2020, Costcutter boss Darcy Willson-Rymer was appointed as chief executive.[14]

In 2024, Card Factory sold an exclusive East 17 Christmas card to mark the 30th anniversary of the band's Christmas single Stay Another Day. A portion of the revenue raised by sales of the card were donated to music therapy charity Nordoff and Robbins.[15][16]

Operations

The company operates some 1,000 stores.[17] Macmillan Cancer Support is the company's chosen charity; Card Factory donations to the charity had totalled £1 million by 2008[18] and £3 million by 2014.[19]

Controversy

The company has been successfully prosecuted for Health and Safety infringements on a number of occasions. Incidents have included poor stock management, blocking of fire exits, overstocking of stores,[20] damaged equipment, inadequate risk assessments and staff training.[21]

In 2008 the company was fined £15,000 after an elderly woman tripped over a cardbox which had fallen from a display area in an aisle and fractured her thigh. She was rushed to a local hospital, where she had to undergo an emergency hip operation. She later died while recovering from the incident, after catching Clostridium Difficile. The company was fined under Regulation 3 of the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 1995, for failing to report the incident in a timely manner.[22]

In December 2024, the company faced criticism for not meeting recommended gender diversity targets on its board. Despite a prior commitment to achieve 40% female representation by December 2024, the company maintained only two women on its six-member board, stating it was not in shareholders' interests to appoint an additional director solely to meet this target. [23]

References

  1. ^ a b "Card Factory plc overview - Find and update company information - GOV.UK". Companies House. 17 April 2014. Retrieved 16 February 2024.
  2. ^ a b c "Annual Results for the year ended 31 January 2018" (PDF). Card Factory. Retrieved 15 February 2024.
  3. ^ "Number of Card Factory stores in the United Kingdom (UK) 2012-2020". statista. Retrieved 8 February 2021.
  4. ^ a b c d e f g Nicola Harrison (26 March 2010). "Dean and Janet Hoyle". Retail Week. Retrieved 21 May 2014.
  5. ^ a b Nick Bubb (19 May 2014). "Nick Bubb's verdict: Are the Card Factory and Game IPOs growth stories?". Retail Week. Retrieved 21 May 2014.
  6. ^ "Wakefield card firm Card Factory's rescue package saves 500 jobs". Yorkshire Evening Post. 28 November 2008. Retrieved 15 July 2011.
  7. ^ "Card Factory's £350m Private Equity Sale Completed". Yorkshire Evening Post. 8 April 2010. Retrieved 5 May 2020.
  8. ^ "GettingPersonal.co.uk (Online retailer of Personalised Gifts) is sold to Card Factory for undisclosed sum". Manchester Evening News. 14 July 2011. Archived from the original on 17 May 2017. Retrieved 14 July 2011.
  9. ^ "Card Factory sales boosted by new stores". Retail Gazette. 11 August 2015. Retrieved 8 February 2021.
  10. ^ "Card Factory To Supply 400 Aldi Stores With Cards, Matalan Trial Extended To 15 Stores". PGBUZZ.net. 24 September 2019. Retrieved 8 February 2021.
  11. ^ "Moonpig float set for lift-off". Financial Times. 8 January 2021. Retrieved 8 February 2021.
  12. ^ "Card Factory website launches, new mobile app on way". Essential Retail. 20 August 2020. Retrieved 8 February 2021.
  13. ^ "Card Factory launches app amid scramble to expand online offering as stores remain shut". Charged. 2 February 2021. Retrieved 8 February 2021.
  14. ^ Ackerman, Naomi (21 December 2020). "Card Factory appoints Costcutter's Darcy Willson-Rymer as new CEO". www.standard.co.uk. Retrieved 22 December 2020.
  15. ^ Taylor, Sam (3 December 2024). "East 17's Tony Mortimer has released some festive charity items for 'Stay Another Day' 30th anniversary". Dork. Retrieved 23 December 2024.
  16. ^ Gotto, Connor (5 November 2024). "East 17 celebrating 30 years of Stay Another Day with charity reissue". Retro Pop Magazine. Retrieved 23 December 2024.
  17. ^ Brown, Jakki (21 August 2019). "Card Factory Hits The 1,000 Store Milestone". PGBUZZ.net. Retrieved 12 May 2020.
  18. ^ "Charity cash on the cards from Dean - Local". Spenborough Guardian. Archived from the original on 25 July 2011. Retrieved 15 September 2008.
  19. ^ "Macmillan has been working in partnership with Card Factory since 2006, and that year saw their total reach £3 million". Macmillan Cancer Support. Retrieved 10 February 2015.
  20. ^ "Firm fined over safety breach". WalesOnline. 30 October 2008. Retrieved 5 May 2013.
  21. ^ "Health and safety breaches cost firm over £40,000". Leicester City Council. 10 December 2009. Archived from the original on 2 November 2013. Retrieved 5 May 2013.
  22. ^ "Card retailer culpable for pensioner's fall". Health and Safety at Work. 1 October 2008. Archived from the original on 29 June 2013. Retrieved 5 May 2013.
  23. ^ "Card Factory refuses to appoint extra female director to hit diversity target - despite previous pledge". Yorkshire Post. 16 December 2024. Retrieved 29 December 2024.
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