Our passion for bringing Simplicity and Joy to people's lives is what drives our successes today, and inspires our innovations of tomorrow. With the insight of our Executive Team and unmatched industry expertise, we continue to find meaningful ways to grow our global portfolio of Brands.
The essential products we create and the love that our consumers have for them is what has kept the BIC® brand resilient during times of major economic or market turmoil for more than 75 years.
Launched in 2019, our Invent the Future transformation Plan has strengthened our core capabilities, and given us a solid foundation on which to grow.
Our Horizon Strategic Plan shines a spotlight on our consumers more than ever before.
Grounded on Sustainable Innovation, this new consumer-centric approach will help us respond faster and better to evolving consumer demands while keeping our Brand relevant and purposeful for decades to come.
Our Strategy is proving successful, resulting in robust Financial Performance and solid Value Creation for all Stakeholders. With our new consumer-centric business model, we are in the best position possible to meet the needs of changing consumer behavior with products that will continue to surprise and delight.
As the pandemic continued throughout 2021, our Business was confronted by many new challenges. While some have strained our Operations in ways never imagined, others have flexed our creative problem-solving skills and helped us weather times of uncertainty.
The pandemic and lockdown measures forced a large percentage of the population to do more from home than ever: working, but also shopping, exercising, and consuming entertainment. People increasingly consider their home as the focal point of their lives. As their lives revolve more closely around where they live, so have their spending habits, with a surge of sales in well-being products, such as kitchen supplies, repair and home improvement. Employees who now work part time from home are willing to spend money to make it as comfortable as possible.
BIC is exposed to different risks that could affect its reputation, performance and ability to achieve the objectives of its strategic plan. Therefore, the Group takes an active and dynamic approach to risk management, anticipating and managing risks while seeking to convert them into opportunities.
* NFPS: Non-Financial Performance Statement.
Launched in 2019, our transformation plan, Invent the Future, has strengthened our Global Operations and unlocked long-term Growth potential. In 2021, BIC achieved each of its four operational Targets one year ahead of schedule.
The transformation plan gave us the solid foundations on which to remain resilient:
Increase efficiency throughout BIC’s global manufacturing operations and build a more comprehensive, flexible, cost-effective, data-centric and responsible production model by exploring ways to optimize procurement processes and our Supply Chain model while maintaining product Safety, Quality, and Affordability.
2022 TARGET: Achieve €50 million in annualized savings
2021 PERFORMANCE: 50 million in savings from the improved efficiency of our Global Supply Chain and Commercial Operations
Enhance BIC’s consumer insights capabilities
and increase the pace of new innovative product launches to drive consumer-centric sustainable innovation.
2022 TARGET: Increase the number of new patent submissions by 20% per year
2021 PERFORMANCE: + 21% increase of new patent submissions
Connect and engage more effectively with all consumers to continue to leverage BIC’s unique brands, tailoring and strengthening our digital communications infrastructure and embracing new shopping trends such as personalization.
2022 TARGET: Engage directly with consumers by allocating above 2/3rd of total brand support in Digital Media in its top markets
2021 PERFORMANCE: 83% media investment in digital
Sharpen commercial operations to become a genuine omnichannel specialist, offline and online, to drive value growth.
2022 TARGET: Reach 10% of Net Sales in e-commerce
2021 PERFORMANCE: 10% of total Net Sales from e-commerce, including Rocketbook