COLOP opens US subsidiary

Stamp manufacturer COLOP has upped its presence in the US market.

The Austria-based firm has confirmed the establishment of its own sales subsidiary near Chicago, Illinois “in order to be able to offer the entire product range under one umbrella brand and to develop long-term strategies for the US.”

COLOP has had a presence in the country since 1987, but the need to set up a fully fledged subsidiary came about following the decision by long-term partner Cosco to exit the stamp distribution business earlier this year. COLOP has turned to stamping industry veteran Brian Schwab to head the new organization.

The US is already COLOP’s largest market, representing around 15 percent of total sales, and the company is eyeing further growth.

“We see good chances to increase the American business to 20 percent of total revenue and to achieve a turnover in the double-digit-million-euro range with COLOP USA,” said joint managing directors Christoph Skopek and Franz Ratzenberger.