Our strategy ‘Transform & Accelerate’

Chapter 1. Our Group : Accelerating our transformation

In 2018, we launched a new strategic roadmap, ‘Transform & Accelerate’ with a clear objective: to transform our organisation and ways of working together in order to accelerate our growth. Mutualising, prioritising, simplifying, are some of the guiding principles which have already helped the Group to gain in agility and operational efficiency, qualities which have proved to be essential not only during the most acute moment of the pandemic but even more so in preparing for our future.

OUR CONSUMERS ARE AT THE HEART OF OUR STRATEGY

Today’s consumer landscape is constantly changing, shaped by a number of forces. A new ‘connected’ consumer is emerging, who is thirsty for a sense of purpose and new experiences. There is greater awareness of what’s happening around us leading to a focus on all things local and environmental concerns.

In newer markets, rapid economic development is dramatically expanding the base of middle‑class and affluent consumers, changing consumption patterns. All over the world, technology is transforming consumer behaviour, which is disrupting traditional relationships between businesses and customers, and requires the invention of new types of engagement.

These changes, which have accelerated with the Covid‑19 crisis, have a direct impact on our business: our proximity to consumers is essential to ensure our decisions reflect their aspirations. Equally, the rapid pace of change requires speed and agility in our decision‑making.

TRANSFORM & ACCELERATE’ TO WIN IN OUR BATTLEGROUNDS

In order to meet our consumers' expectations, we’ve identified four battlegrounds: winning in our key markets:(1) US, China, India and Global Travel Retail; (2) building ‘passion brands’; (3) funding our journey by pursuing sustainable and diversified growth; (4)and valuing people, making our employees and communities the drivers and beneficiaries of this acceleration.

Consisting of 21 concrete actions, this plan aims to transform our company in order to 'Prepare the Future' and accelerate our growth by getting ‘More from the Core’. The success of this strategic plan is based on an economic model which places the consumer at its centre and which is built around four Essentials based on our historical strengths and four Accelerators aimed at responding to changing trends in our markets.