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Like innovation, international expansion is a vitally important vector for growth. Uniting a global vision
and a local approach, the Group is extending its presence and consolidating its position by developing
a commercial strategy adapted to the unique nature of each market.
THE WORLD
AROUND US
Balancing operations
During the 1990s when we became aware of the growth potential offered by emerging markets,
the Group took an offensive position in these markets, whilst continuing mature market penetration.
This led to a more or less equal balance in global sales by 2011, which is a real advantage when it comes
to benefiting from all opportunities for growth and diversifying risks. To achieve this, we have combined two
different approaches. The first is to pursue organic growth by developing the presence of our own
structures (subsidiaries, sales offices etc.). Secondly, we are pursuing external growth through acquiring
local businesses, which are standard bearers in their field, and therefore gaining rapid access to the market
and enriching our product offer. In this way, the Group has forged itself a leading position worldwide and
holds top-ranking positions in many markets such as Brazil, Colombia and more recently China.
|Sales in mature/emerging
markets
2011 - €3,963 million
Emerging
45%
+14%
Mature
55%
+2%
Increasingly stable positioning
With our long-term presence in mature markets, we are continuously aiming to improve our
competitive position in these countries. Our market shares remaining very mixed from one country to
another, we are exploiting this potential by strengthening our presence through the expansion of our offer
and new supplier listings. In these markets with widespread existing use of equipment, the key to growth
is the constant renewal of ranges with products that reflect the evolution of consumer behaviour.
Mould-breaking innovation actually creates new categories (practically fat-free fryer, cordless upright
vacuum cleaner) for the Group and thereby contributes to the growth of small domestic equipment
26 Business and Sustainable Development Report 2011