Amidst news that Bermuda's retail sector is suffering drastic drops in sales - at least one local retailer is growing and prospering.

Pulp & Circumstance - which specialises in paper products and gifts - has this week opened a third retail site.

Owner Kristi Grayston told The Royal Gazette the new site has the same concept as the company's other two stores - both on Queen Street - but with a focus on the corporate market.

Mrs. Grayston said the purpose of the new site - which is located in Pulp & Circumstance's first-ever premises in the Old Cellar Lane, and is being called the Pulp & Circumstance corporate retail centre - is as a dedicated space for corporate clients to see the corporate line of products.

The new shop offers business cards, stationery, invitations and corporate gifts and give-aways.

When asked to what she would attribute Pulp & Circumstance's success, Mrs. Grayston said: "We do some tourist business - but it is gravy for us, as we are really marketing to locals.

"We bring in what we think locals want, and so far we have been fortunate, and have not felt any effects (of the economic downturn)," Mrs. Grayston said.

Of the corporate gift line, Mrs. Grayston said the shop is carrying "out of the box" items.

Mrs. Grayston said the shop has always done a good volume of corporate business, and opening the corporate centre was the next stage in serving that market.

The corporate centre is also partnering with a number of other local companies - including photographers, web developers, event planners and caterers - to provide corporate clients with access to a number of services.

Mrs. Grayston said the partnerships do not imply financial stakes, but as as a resource for clients looking for a service that Pulp & Circumstance does not offer. Mrs. Grayston said the promotion of certain companies is based on Pulp & Circumstance belief that the services of these vendors is "unparalleled."