The Bic group is continuing its Bic 2022 - Invent the Future transformation plan by identifying five projects to improve its short-term resilience in the context of the Covid-19 crisis and accelerate its long-term growth. From the flow of stocks thanks to the start of the school year to the production of a new, more ecological Bic Cristal, what challenges for the stationery branch of the group?
While this health crisis generates unprecedented challenges, it also offers us the opportunity to accelerate our transformation towards a more agile and consumer-centric business and we intend to emerge stronger from this period. "Gonzalo Bich, CEO of Bic.
Project n °1: Controlling operating expenses
“In 2020, the negative impact of the drop in turnover on the normalized operating margin will be partially offset by 15 to 20 million euros in savings on operating expenses,”says Bic.
Project n °2: Protect cash flow
The group wishes to control its industrial investments by reducing the airfoil to 80 million euros in 2020 compared to 114 million in 2019. Bic also plans to reduce its stocks by around 15 to 30 million euros. " The next school year will be decisive for achieving this goal, " said the press release.
Project n °3: Foster innovation
On the program: focus on consumer expectations, particularly in terms of sustainability. A rechargeable Bic Cristal with a metallic body should therefore be presented at the end of the year.
Project n °4: Adapting operations
To implement more efficient processes, Bic's purchasing policy is reviewed with the aim of saving 50 million euros by the end of 2022.
Project n °5: Stimulating growth
Among various measures such as price increases on lighters, the group wants to stimulate stationery sales during the next back-to-school period, in collaboration with distributors, retail and the web. The objective is therefore to increase e-commerce turnover by around 20% in 2020.
While this health crisis generates unprecedented challenges, it also offers us the opportunity to accelerate our transformation towards a more agile and consumer-centric business and we intend to emerge stronger from this period. "Gonzalo Bich, CEO of Bic.
Project n °1: Controlling operating expenses
“In 2020, the negative impact of the drop in turnover on the normalized operating margin will be partially offset by 15 to 20 million euros in savings on operating expenses,”says Bic.
Project n °2: Protect cash flow
The group wishes to control its industrial investments by reducing the airfoil to 80 million euros in 2020 compared to 114 million in 2019. Bic also plans to reduce its stocks by around 15 to 30 million euros. " The next school year will be decisive for achieving this goal, " said the press release.
Project n °3: Foster innovation
On the program: focus on consumer expectations, particularly in terms of sustainability. A rechargeable Bic Cristal with a metallic body should therefore be presented at the end of the year.
Project n °4: Adapting operations
To implement more efficient processes, Bic's purchasing policy is reviewed with the aim of saving 50 million euros by the end of 2022.
Project n °5: Stimulating growth
Among various measures such as price increases on lighters, the group wants to stimulate stationery sales during the next back-to-school period, in collaboration with distributors, retail and the web. The objective is therefore to increase e-commerce turnover by around 20% in 2020.
