"Our 2011 results confirm the solid foundation of BIC's business model, offering value (quality and price) and innovation to all consumers around the world," said Mario Guevara, chief executive officer of BIC Group.
The company's consumer business increased 6.3 percent overall, with a 5.3 percent increase in North America. BIC APP saw a 10.4 percent decrease in net sales on a comparative basis, notably due to a sharp decreases in Europe in the fourth quarter. Specifically, the company noted that its promotional product hard good business saw sharp decreases in Southern European countries like Spain, Greece and Italy last year. BIC Group's promotional stationery and calendar sales either remained steady or increased in 2011.
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.