Stationery Giant M&G Announces its Fund's New Acquisition on China International Import Expo
SHANGHAI, Nov. 7, 2020 /PRNewswire/ -- China's leading stationery company Shanghai M&G Stationery Inc. (M&G,SSE:603899) announces its fund's acquisition of Israeli studio PELEG DESIGN on China International Import Expo (CIIE). M&G also unveils its Israeli Design Centre to boost product innovation.
"This cooperation marks the opening of cultural and creative design exchanges between China and Israel in the future", said NIV Hannan, Economic Consul from Consulate General of Israel in Shanghai.
Founded in China, M&G is an internationally recognized brand, embracing a broad, award-winning product portfolio and strong distribution network covering nearly 80,000 retail stationery shops. The company has maintained steady double-digit revenue growth in the last decade. In 2019, its revenue was 111.4 billion RMB (1.66 billion USD), up by 30.5%.
To keep attraction for Gen-Z consumers, M&G launches around one thousand new SKUs every year. The new design centre in Israel will bring more amazing ideas from overseas designers to Chinese consumers.
Founded in Tel Aviv, Israel, PELEG DESIGN studio's products are designed to be used in homes, offices and other living spaces, revolving around three basic principles-- functionality, aesthetics, and humor.
Shahar Peleg, the brand founder, was a magician in his 20s. Peleg Design's first product - "The Chain Bottle Holder" was an assignment in his school days. "In order to create a product with a sense of surprise, I thought of the concept of 'freeze a moment', as if a magician suddenly picked up an ordinary item and used magic to make it impossible," Mr. Peleg said. Later, the creation of interesting and surprising products has become Peleg Design's consistent design concept. "The collaboration with M&G opened for us a very wide range of products, that we never did before. It's very exciting and very open-minding for us."
CHEN Huxiong, CEO of M&G, said, "Good design is one of the most important driving forces for stationery business. Riding on the rapid growth of the China market, we hope to create more innovative products partnering with designers all over the world."
The 31-year-old M&G is speeding up its cooperation with overseas partners in product design, licensing, trading and investment globally. A year ago, M&G officially announced on CIIE its strategic partnership with CARIOCA SpA, a well-known kids drawing brand in Europe. It's debut on CIIE attracted great attention from mainstream media and consumers in China.
About M&G: www.mgstationery.com
About Peleg Design: www.peleg-design.com
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