Tuesday, January 21, 2020

[SURPRISE!] Premium Greeting Card Company Papyrus to Shutter All Stores

Papyrus, the greeting card company known for their creative (and pricey) greeting cards and related gifting items, is closing all of their retail stores. Schurman Retail Group, with headquarters in Goodlettsville, Tennessee, currently operates just two Papyrus locations in metro Atlanta, both in Buckhead: one at Phipps Plaza, the other at Lenox Square. 
The company was founded in 1950 in the Berkeley, California kitchen of Marcel and Margrit Schurman.  The first Papyrus retail store opened in 1973. Dominique Schurman, the founders' youngest daughter, joined the company in 1982 and became its CEO in 1991, following her father's retirement.  

In a notice to employees, Schurman cited "current challenges of the retail industry" and said the company had been "diligently working to revitalize our business" for months before coming to the conclusion that they could not continue as a going concern. The company has reportedly not filed for bankruptcy.  

Several issues likely contributed to the company's struggles.  An overall shift in consumer shopping habits and decreases in mall visits, where many of their stores operated, likely hurt the company's core business.  Teamed with that,  the rise in popularity of ecards on the low end, and super-premium cards from Lovepop on the high end, likely made it difficult for the company to stay afloat.  
At its height, the company operated 450 stores around the country. Today, the chain has shrunk to about 260, all of which have started liquidation sales.  The stores are currently offering all in-stock merchandise for 20 percent off their normal price. 
The company acquired the American Greetings and Carlton retail banners from American Greetings Corporation for $6 million plus equity in 2009. As part of the deal, Schurman sold its wholesale business to American Greetings. American Greetings Corporation today makes Papyrus and many of the other brands that fill not only Schurman's stores, but others like Whole Foods Market and Target too.  

Are you sad to see Papyrus close its stores?  When was the last time you purchased a paper card?  How much is too much for a paper card?

Please share your thoughts below.  


Anonymous said...

So SAD! I LOVE this brand! Beautiful cards.

Anonymous said...

No one sends cards anymore.

Anonymous said...

I'm very sad. It was one of the few reasons I went to Phipps. But I could find them at Whole Foods too and thought that was a smart move for the company. The cards were gifts in and of themselves! But they were expensive and no one sends cards very much any more. I will be sad to see them go. My favorite box set of theirs is the one that says "Not from My Phone" on the front!

Anonymous said...

Gorgeous cards but soooo expensive. I’d like to know when they have a 75% off sale before shuttering!

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