Holmfirth's Bamforth's saucy seaside postcards to be relaunched today on 100th anniversary - gallery of postcards here
Bamforth was a portrait photographer who later specialised in lantern slides. But it was the saucy postcards, launched in 1910, which sealed his firm`s reputation.
Mr Wallace, who is originally from Huddersfield, said: "This company was making films before Hollywood and then they went onto produce these postcards, which are an institution.
"They sold millions and millions and millions of them. They were sold all around the world.
"I think this move will give them a new lease of life."
Bamforth & Co was bought by the Scarborough printing firm Dennis in the 1980s and Mr Wallace bought the rights in 2001, after this company collapsed.
Mr Wallace said: "All we`re hearing about at the moment is cuts, cuts, cuts. It`s good to have something we can all laugh about.
"People like a good laugh, particularly at times like this and I think we should laugh more. We know that aspects of the Bamforth range of daft, comic ideas will appeal to certain people in all countries."