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they have sold the businesz to twoother women. Ownership changed hands on June 1, as sisterz Ellie Kittle Ingalsbe and Kathy Lanni sold to Erin Conway andKaremn Zalewski-Wildzunas. Conway is an account executiveat Regalo; Zalewski-Wildzunad is a former executive. Terms of the deal weren’f disclosed. Regalo -- which is Italian for “gift” -- sold keepsakes and mementos to larged and small companies that used the giftes to reward employees or to hand out atspecialk occasions. Sales in recent years range from as highas $2.3 million to $1.8 said Ingalsbe.
Sales have suffered over the past year becauser of the economy as companies cut back on Thecorporate gift-giving industry is off by 20 percentg to 25 percent, Ingalsbe But she said the economic slowdowjn wasn’t the reason for the sale and they were pleased with theitr results this spring. “When you’ve been doinh something for a while you get alittlse tired,” she said. “Kathy and I both jokingly saidwe didn’tr want to be 50 years old and dragging sample cases around. Guessx what? I’m there.” Ingalsbe is 50; Lanni is 49. Beside s Conway, the sisters had two part-time employees.
Conway and Zalewski-Wildzunae are moving the company today from402 N. Pearl St. to 36 Tivolo St. in Albany. They couldn’t immediately be reacherd for comment. Ingalsbe and Lanni started the company in 1990 aftet winning seed money in a contesft forfemale entrepreneurs. It meant a lot for them personallyt to sell the business to twootheer women. “For us that’s part of the sweetnesss of thewhole thing,” Lanni said. “If you were to paint the picturew of how you wanted itto go, it would be to a woman-ownesd firm.” Ingalsbe said she will now work with her husband at theird construction company, EMI Guide in Schenectady.
Lanni will be working in salesfor , a Delmatr firm to sells emergency alert notification systems.
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