Corporate Gifting Business Booms in Koramangala

KORAMANGALAWhen corporates are going all out on cost-cutting, corporate gifting always survives for being one of the most affordable options. Bangalore-based corporate gifting firms are offering innovative solutions for promoting business, brand and ensuring employees happiness.

According to industry sources, the estimated market for corporate gifts is over Rs 12,000 crore and is expected to grow between 8 and 12 per cent annually.
“Corporate gifting has become a major trend in recent years. For corporates such gifts not only boost up the morale of their employees but also help them in maintaining strong business relations with partners and associates. After all they all are the biggest brand ambassadors,” Mr. Divya Sagar, owner of Magnus Cadeaux said.

“Koramangala suburb and other adjoining areas are the biggest emerging markets for corporate gifting considering the diverse range of leading multinationals and SMEs thriving here,” Mr. Aruna Budhiraja, owner of Kreative Konsultants said.

Both these players have been in this business for nearly five years now. Magnus’ range of offering includes Acrylic Mementos, Leather and Crystal Product, Fancy Bags, Executive Decors and Executive Accessories.

“We also customise gifts. If a client has something specific in mind, we are more than happy to customise, add a special touch, use their brand colours, add a special message and make all of this fit their budget. Sometimes branding is done at our level and at times customers provide at their own level. The ratio of own items to customised gifts is 60:40”.

Magnus although caters to both corporate and SMEs, but the client ratio is 90:10. Primary reason is being the large corporate base, giving volumes of business and resulting in bigger margins. It recorded doubled revenues in the last four years with an increase of 15 to 18 percent. Kreative Konsultants deals only with corporates and specialises in handicraft and electronic gift items. Apart from these, it has trophies & mementos, innovative writing instruments and accessories.

“Our core market is Bangalore and other urban cities in south India. We do customise gifts but not on a regular basis and so our regular to customised gifting ratio is 80:20. Since launch we have gained 15 clients and are growing at nearly 20 per cent annually”, company sources said.