NORWALK, Conn., Aug. 22, 2011 /PRNewswire/ -- Michaels Stores, Inc., North America's largest arts and crafts specialty retailer, and procurement management firm LogicSource, Inc. today announced a five-year agreement under which LogicSource will provide print procurement and related services to Michaels. More than $250 million of print and promotional spend will be covered over the life of the contract.
Prior to beginning the relationship, LogicSource conducted a strategic analysis of Michaels's entire print production ecosystem, from creative through to distribution. LogicSource used this comprehensive understanding to identify potential cost savings and operational enhancements, such as increasing the company's on-demand printing capabilities. In addition, LogicSource will utilize its sourcing expertise, OneMarket technology and market leverage to achieve significant annual savings for Michaels.
"As a procurement partner, LogicSource has brought great insights and value to Michaels by: helping us access, understand, and better manage our investments in our major print channels," Michaels Chief Marketing Officer Paula Puleo said. "By bringing innovative thinking to the table in terms of resource management, partner selection, and future capability development, LogicSource really distinguished itself and we are confident that they will add tremendous value."
The LogicSource print procurement team, composed of new talent and existing Michaels procurement professionals, is housed at Michaels headquarters in Dallas and will work side-by-side with other Michaels purchasing professionals to seize opportunities to be more effective and efficient.
"We are very pleased Michaels Stores, a world class retail brand, has chosen LogicSource to manage its marketing procurement needs," LogicSource CEO David Pennino noted. "We look forward to providing superior on-site procurement management services and tools, allowing Michaels to focus on its business goals while saving money and purchasing print and promotional materials more efficiently."
Irving, Texas-based Michaels Stores, Inc. is North America's largest specialty retailer of arts, crafts, framing, floral, wall decor, and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The company currently owns and operates more than 1,030 Michael's stores in 49 states and Canada, as well as more than 140 Aaron Brothers stores, and produces ten exclusive private brands. For more information visit www.michaels.com.
LogicSource is a Business Process Outsourcing (BPO) and consulting firm specializing in the procurement of printed materials and related commodities and services. The company focuses on driving measurable and sustainable cost savings for its clients. LogicSource is headquartered in Norwalk, Conn. LogicSource is owned by Bain Capital Ventures www.baincapitalventures.com and Acartha Group www.acarthatechpartners.com. For more information visit www.logicsource.com.