Flair Writing Industries Limited IPO Details

Flair Writing Industries is one of the top players in the overall writing instruments industry and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023. The company’s flagship brand “Flair” has enjoyed a market presence of over 45 years. The company manufactures and distributes writing instruments including pens, stationery products and calculators. Leveraging on its manufacturing capabilities, the company has also diversified into manufacturing houseware products and steel bottles.

In the Financial Year 2023, the company sold 1,303.60 million units of pens, of which 975.30 million units or 74.82% was sold domestically, and 328.30 million units or 25.18% was exported globally.

The company has the largest distributor/dealer network and wholesale/retailer network among its peers in the writing instruments segment in India, comprising approximately 7,700 distributors/dealers and approximately 315,000 wholesalers/retailers, as of March 31, 2023.

The company’s product range includes a variety of pens (ball pens, fountain pens, gel pens, roller pens and metal pens), which is the largest category in terms of number of products offered, stationery products (mechanical pencils, highlighters, correction pens, markers, gel crayons and kids’ stationery kits) and calculators. The company launched a range of “Flair Creative” products in Financial Year 2021 which include water colours, crayons, sketch pens, erasers, wooden pencils and geometry boxes, fine liners, sharpeners and scales. It offered 727 different products as of June 30, 2023.

The company’s products are sold under various brands such as “Flair”, “Hauser”, “Pierre Cardin”, and “ZOOX” in India. The brands “Flair” and “Hauser” offer mass-market and premium pen and stationery products; “ZOOX” focuses on mid-premium and premium writing instruments; and the “Pierre Cardin” brand offers premium pen and stationery products.

The company is also involved in contract manufacturing of writing instruments as an OEM for export and for sale in India, which contributed 16.87%, 19.94%, 33.37% and 38.67% to its revenue from operations in Q1FY2024, FY2023, FY2022 and FY2021, respectively.

Flair manufactures pens and other products from 11 manufacturing plants located in Valsad, Gujarat; in Naigaon (near Mumbai), Maharashtra; in Daman, Union Territory of Dadra and Nagar Haveli and Daman and Diu; and in Dehradun, Uttarakhand.