Facing a 50% sales decline since 2007, Angelica Berrie recognized she was facing a "bloodbath" at her retail stationery chain, Kate's Paperie. Berrie moved quickly to terminate expensive leases, closing four stores and downsizing her most profitable location. At the same time, Berrie says, she emphasized online sales and exclusive products created by big-name designers, including Marc Friedland, who designed the envelopes for this year's Academy Awards.

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