Stationery chain is back in action
UPMARKET stationery chain kikki.K has been rescued from collapse, with a US rival buying the business out of administration.
EC Design, which operates the Erin Condren stationery chain, will buy Melbourne-based kikki.K and operate a slimmed down store network.
Kikki.K fell into voluntary administration early in March, calling out a “perfect storm” of Brexit, bushfires and the coronavirus outbreak.
At the time, the chain had 65 stores in Australia, Britain, New Zealand, Singapore and Hong Kong and employed about 450 people.
Its new owner will take over a chain that now spans 30 stores — 25 in Australia and five across New Zealand, Hong Kong and Singapore — with about 200 workers.
The business was founded by Kristina Karlsson and partner Paul Lacy in 2001, gaining a cult following for its high-end stationery and office supplies designed with a Swedish aesthetic.
Ms Karlsson, who was born in Sweden, will remain as kikki.K creative director and Mr Lacy as chief executive under the EC Design acquisition.
The brand, which has also won fans with its store fitouts, will remain headquartered in Melbourne.
“We’re so happy that we’ve been able to preserve hundreds of jobs and be well set up to thrive again so we can continue making a difference in the world in small and big ways,” Ms Karlsson said on Tuesday.
“With this partnership, the Erin Condren team will assist us in strengthening the kikki.K brand across the US market and help grow our ecommerce business.
“It also provides a great opportunity for Erin Condren to expand internationally in new growth markets that we know well, like Europe, Asia, Australia and many others.”
Erin Condren is most famous for its range of detailed planners, particularly its signature weekly “lifeplanner”.
Chief executive Tonia Misvaer said the company had long admired kikki.K.
“We knew we were in a unique position to step in and serve as stewards of the brand’s renaissance,” Ms Misvaer said. “We look forward to working with everyone at kikki.K.”