Global celebrations group Amscan International has rebranded as Wonder and announced a revenue target of £500m by 2026.
The Milton Keynes-based designer, manufacturer, distributor, wholesaler and retailer of party products currently has a turnover in excess of £300m, which is up +40% on the previous year.
The rebrand is a key element of the group’s continued implementation of its global strategic growth plan, which follows the announcement in September by the business that it had acquired Sweden-based online retailer Party King to further expand into the Nordics.
Explaining the reasons for the rebrand, Joe Hennigan, Wonder chief executive, said: “Our old group name didn’t reflect the dynamic, global, multi-channel, multi-product group of leading brands and businesses we are today. It also caused confusion between our group and the trading name for our wholesale business.”
“Every continent, country and culture on earth has its own rich, colourful traditions and celebrations. These occasions are central to our sense of identity, health and happiness,” he added. “Our products and services enhance these celebrations, which provide reasons to come together, help people express themselves on social media and create truly unforgettable moments. Our talented global team, paired with cutting-edge technology, create unforgettable moments of joy, positivity and magic for millions of people worldwide. We believe Wonder encapsulates this succinctly and brilliantly.”
The company’s existing product and trading brands, such as Ginger Ray, Party Delights, Party King, Amscan, Everts and many more, will continue to exist and be used as they are today. They will all be part of the Wonder family of companies.
In addition to its UK operations, Wonder has offices in Germany, Sweden, Australasia, Asia and Africa. The company employs around 2,500 people worldwide, with retail brands that include Party Delights, the UK’s largest online party store, Ginger Ray and several other brands across 15 countries.
In January 2021, the business underwent a management buy-out supported by Leeds-headquartered private equity firm Endless.
Commenting on the £500m revenue target, Joe added: “We have grown quickly since the MBO, both organically and through acquisitions. We intend to continue expanding into new and existing markets, innovating with our products and services and further growing our direct-to-consumer revenues which currently sit at £100m. With Endless’s backing we will continue to remain acquisitive whilst investing heavily in our people, processes and technologies to provide the platform for sustainable profitable growth. Our £500m revenue target by 2026 is ambitious but we believe we have the knowledge, expertise and capabilities to continue to build on our momentum and make it happen.”