China's Rs 2,500-crore stationery brand, Deli of the Ningbo Deli group, on Saturday entered the Indian market through a joint venture with Penrex Products, a domestic writing instruments and stationery company.
The new joint venture company called Deli Penrex Stationery aims to provide the Indian consumer the complete range of quality and unique stationery products under one roof and at an affordable price point, a press release issued here said.
The Ningbo Deli group is one of the largest stationery manufacturers and exporters in China.
Penrex Products, the Indian partner which has been in the writing instruments and stationery industry in India for more than half a century has been the sole marketing agent for Deli products in India since 2004.
"Deli offered a unique range which had the potential of satisfying all the market segments in the stationery industry in India. Inspite of numerous giant players in the Indian market, there still existed a vacuum which needed to be filled," Penrex Products' chief, Shaikh Hakimuddin, said.
Deli will be available in all major cities in India, the company said.