Ryman is on the expansion trail as it takes advantage of good property deals while making a “significant” investment in its online strategy.

The stationer said that it is looking for further opportunities to expand the business after the recent rebranding of its Partners and Stationery Box stores to Ryman.

Group chief executive Kypros Kyprianou said: “We are most interested in good sites with busy footfall. We are now finding that attractive high street locations are becoming more affordable.”

This month Ryman opened a store in London’s Covent Garden, taking its store count to 240.

Kyprianou said: “The supply of units has finally started to exceed demand and there are more opportunities to be grasped. It is now a tenant’s market and landlords are much more open to negotiation.

We are seeing monthly rents as well as rent free-periods and capital incentives.”

He said trading has been “robust” over the past 12 months and that he is “pleased with progress to date”.

He added: “Given the economic environment we are naturally cautious. However, we have always focused on customer service and figures would suggest that shoppers are receptive to our approach. Ryman has been an extremely well managed business over the years.

It is well positioned to prosper in these challenging times.”

The retailer is in the midst of redesigning its website as it strengthens its multichannel business. This comes a year after the retailer appointed its first director of e-commerce and account sales, Andy Harding.