Financial Report and Registration Document 2010 - Groupe Seb
Financial Report and Registration Document 2010 - Groupe Seb
Financial Report and Registration Document 2010 - Groupe Seb
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GROUPE SEB IN <strong>2010</strong><br />
MILESTONES IN THE HISTORY OF THE GROUP<br />
ORGANIC GROWTH: INNOVATION AND INTERNATIONAL EXPANSION<br />
New product development <strong>and</strong> the conquest of new markets are two<br />
key pillars of our strategy. Innovation is critical to the vitality of the Small<br />
Household Equipment sector <strong>and</strong> it gives the Group the head start it requires<br />
to stay ahead of competition <strong>and</strong> acquire solid positions on markets.<br />
At the same time, the geographic expansion offers new opportunities, with<br />
amongst other things, a better international balance of our trading activity<br />
<strong>and</strong> enhanced exposure to the strong potential of emerging markets, which<br />
constitute growth drivers for the future.<br />
A STRONG INNOVATION POLICY<br />
Both SEB <strong>and</strong> Moulinex, ever since they were founded, have set out to offer<br />
innovative products that contribute to the daily well-being of consumers.<br />
Emblematic products such as the <strong>Seb</strong> pressure cooker <strong>and</strong> the Moulinex<br />
purée h<strong>and</strong>press paved the way for the first electrical appliances in the 50s<br />
<strong>and</strong> 60s: irons, coffee grinders, odourless fryers, <strong>and</strong> the Charlotte <strong>and</strong><br />
Marie multipurpose appliances… The 70s <strong>and</strong> 80s marked the arrival of<br />
more sophisticated functions with the introduction of electronics-enhanced<br />
new products: bathroom scales, programmable coffee machines, etc.<br />
This era also saw the emergence of new lifestyles, reflected in the launch<br />
of convivial products such as the raclette grill <strong>and</strong> home espresso coffee<br />
maker. In the decade up to 2000, both <strong>Groupe</strong> SEB <strong>and</strong> Moulinex brought<br />
new simplicity to the world of small household equipment: pressure cookers<br />
with simplified closing mechanisms, removable h<strong>and</strong>les for frying pans <strong>and</strong><br />
saucepans, compact vacuum cleaners with triangular-shaped heads, coffee<br />
makers incorporating grinder-dosers, frying pans with a visual heat indicator,<br />
<strong>and</strong> food processors designed for easy storage…<br />
The 2000s marked a new acceleration in the product offer renewal process<br />
through:<br />
its fi rst partnerships developed by the Group from 2006 with leading<br />
food-industry operators gave it access to new product categories such<br />
as pod coffee makers <strong>and</strong> draught beer tapping machines:<br />
the introduction of several innovative concepts, answers to new consumer<br />
expectations (nutrition <strong>and</strong> health, home-made, ease, wellbeing, etc.),<br />
often accompanied by major commercial success: the Actifry “oil free”<br />
fryer, the Silence Force vacuum cleaner which combines power with low<br />
sound level, steam cookers, bread makers, knock-down, washable silent<br />
fans, anti-mosquito devices, etc.;<br />
the introduction of new functional features in linen care, such as a<br />
self-cleaning iron soleplate <strong>and</strong> an anti-scaling system for steam<br />
generators, etc.<br />
HEADING FOR NEW MARKETS<br />
In the 1970s, <strong>Groupe</strong> SEB turned its attention to international growth.<br />
Building on its “cookware” expertise, it began by penetrating the Japanese<br />
<strong>and</strong> American markets with its nonstick Tefal frying pans <strong>and</strong> saucepans.<br />
In 1992 <strong>and</strong> 1993, it took advantage of the opening of Eastern Europe,<br />
by creating retail distribution operations in central European countries<br />
<strong>and</strong> by gaining greater access to the Russian market. From 1994 to 2000,<br />
it focused on building up its commercial operations worldwide <strong>and</strong>, where<br />
appropriate, its industrial presence by setting up factories in South America,<br />
China <strong>and</strong> elsewhere. Over the years, the Group exp<strong>and</strong>ed its activities to all<br />
the continents <strong>and</strong> built its international manufacturing bases. It continued<br />
exp<strong>and</strong>ing in Asia with marketing subsidiaries created in Thail<strong>and</strong> <strong>and</strong><br />
Taiwan in 2003, <strong>and</strong> in Singapore <strong>and</strong> Malaysia in 2004. It then reinforced<br />
its presence in South America by opening a subsidiary in Peru. In 2005,<br />
the Group created a subsidiary in Switzerl<strong>and</strong> to manage its operations in<br />
that country directly. Meanwhile, to support emerging markets in Northern,<br />
Central <strong>and</strong> Eastern Europe, the Group strengthened its presence in these<br />
zones by setting up subsidiaries in Romania in 2005, in Ukraine <strong>and</strong> Slovenia<br />
in 2006 <strong>and</strong> in Latvia in 2007. This drive continued in Bulgaria in 2008, while<br />
in South-East Asia, Supor opened a new factory in Vietnam. At the same<br />
time, the Group created Lojas in Brazil, a company that comprises the ownbr<strong>and</strong><br />
stores opened in Brazil to have a direct sales approach <strong>and</strong> create<br />
an additional sales outlet.<br />
The strength of <strong>Groupe</strong> SEB lies in its ability to blend innovation – a key<br />
factor of success – with international operations that bring it closer to its<br />
retail clients <strong>and</strong> customers. These are the two pillars upon which the Group<br />
continues to build its development.<br />
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GROUPE SEB<br />
FINANCIAL REPORT AND REGISTRATION DOCUMENT <strong>2010</strong><br />
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