Cyrk (company)
promotions company
Cyrk was once one of the largest promotions companies in the world with over 2,000 employees worldwide. The company's stock was listed on NASDAQ under the ticker symbol CYRK. It was founded in 1976 by Gregory Shlopak and Paul Butman.
Rise
The bulk of CYRK's revenues were generated from the sale of custom promotional products employed as consumer rewards in points-based consumer loyalty promotions.
CYRK had three very successful public offerings between early 1993 and late 1994 underwritten by Montgomery Securities, all of which were oversubscribed.
In 1997 the company, "already a significant player through its management of the Marlboro Gear and Pepsi Stuff continuity programs" acquired Los Angeles-based Simon Marketing, making it one of the largest agencies in the promotion industry. They were named Agency of the Year by Promo Magazine in 1998. Although CYRK lost the Pepsi Stuff account in 1998 as it moved to a Coca-Cola account that never rivaled the success with Pepsi, they boasted McDonald's and Philip Morris as their two top clients. They also did significant business with Beanie Babies-maker Ty Inc. While Philip Morris accounted for 90% of the companies' business in 1994 through the acquisition of Simon, McDonald's alone accounted for 61% of the consolidated revenue in 1999. On March 31, 1997, CYRK purchased Monroe, WA based Tonkin, Inc.
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This entry incorporates text from “Cyrk (company)” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.