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APRIL 2006

BIC Group Shaver Presentation

Investor Relations Department: +33 (0)1 45 19 52 26 carole.imbert@bicworld.com sandra.cadiou@bicworld.com www.bicworld.com

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Honor the past

2
Invent the future

3
History…

1975 1994 1999 2000 2003 2004

2005 2006
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BIC Categories

2005 Full Year Results

Net Sales Income From Operations

4% 8%

17%

Stationery
Lighter
43%
Shaver
Other
52%

49%
27%

5
Organization Structure For Shavers

Global Category Management Geographic Management

Consumer Strategies Europe


Research and New Products Middle East / Africa / Asia
Manufacturing North America / Oceania
Quality Assurance Latin America (incl. Mexico / CA)

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Organization Structure For Shavers

Global Category Management Geographic Management

Consumer Strategies Sales and Customer Relations


Research and New Products Customer / Trade Marketing
Manufacturing Customer Supply / Logistics
Quality Assurance Local Operations

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Presentation Agenda

Page

The Wet Shave Market 10

BIC Shaver Strategy 32

Strategy Implementation 38

BIC Strategy Results 46

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The Hair Removal Market

DOUBLE EDGE… individual blades


ONE-PIECE… disposable / throwaway shavers
SYSTEMS… handle and cartridge shavers
Electric / Power Shavers… Braun, Remington, Philips
Chemical Depilatories… Veet
Manual Depilatories… Wax, Tweezers
Electrolysis
Salons
Laser Hair Removal
Shave Preparations… Foams, Gels, Creams
After Shave… Moisturizers, Skin Conditioners

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The Wet Shave Market
10
The Wet Shave Market

Systems

One-piece

Double-edge

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The Wet Shave Market

2005 Estimated Global Market Size

Volume Value
Billion units Billion euro

16 6

12
4

2
4

0 0
Systems One-Piece Double Edge Systems One-Piece Double Edge

12
The Wet Shave Market

2005 Global Market Size

Excluding Double Edge


Volume Value

Systems -0.6% One-piece


31% 37%

Systems +5.8%
One-piece 63%
69%

10 billion units 7 billion euro (retail)


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The Wet Shave Market

5 Year Market Trend - US + WE

Volume Value

Billion units Billion euro

4 4

3 3

One-piece
2 2
Systems

1 1

0 0
2000 2001 2002 2003 2004 2005
2000 2001 2002 2003 2004 2005

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Activity from 2000…

GILLETTE

15
Activity from 2000…

SCHICK / WILKINSON

16
Activity from 2000…

BIC

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Activity from 2000…

% of 2005 Sales from New Products (euro)


TOTAL WET SHAVE

WESTERN EUROPE USA

Gillette Gillette

Schick Schick

Bic
BIC Bic
BIC

0 50 100 0 50 100

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Activity from 2000…

% of 2005 Sales from New Products (euro)


TOTAL One-piece

WESTERN EUROPE USA

Gillette Gillette

Schick Schick

Bic
BIC Bic
BIC

0 50 100 0 50 100

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Geographic Characteristics

Systems vs One-piece
Value Share

Western Europe United States Brazil


One-piece One-piece
27% 32% Systems
26%

One-piece
Systems Systems 74%
73% 68%

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Focus on One-Piece

“Global” Share of One-piece

VOLUME SHARE VALUE SHARE

60 60

40 40 %
Share
of
One
20 20Piece

0 0
Gillette Bic
BIC Schick Private Label Gillette Bic
BIC Schick Private Label

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Key Observations

Triple-blades will play an increasingly important role


in the future of one-piece Shavers

22
Focus on Women

Market Segmentation
Women vs. Men

VOLUME VALUE

Women Women
21% 23%

Men Men
79% 77%

23
Focus on Women

Market Segmentation Evolution

TOTAL WET SHAVE


2005 Value Share

WESTERN EUROPE USA BRAZIL

100 100 100

50 50 50

0 0 0
Men Women Men Women Men Women

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Focus on Women

Market Segmentation Evolution

Women vs. Men


One-piece Value Share

WESTERN EUROPE USA


90 90
90

Women value
60 60 Share 60
Value
Men Value
Share
Share
30 One-Piece
30 30

0
0 2000 2001 2002 2003 2004 2005 0
2000 2001 2002 2003 2004 2005 2000 2001 2002 2003 2004 2005

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Focus on Women

SYSTEMS

ONE-PIECE

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Key Observations

Triple-blades will play an increasingly important role


in the future of one-piece Shavers

Women products will play an increasingly important


role in the future of Wet Shave

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Pricing Evolution

Total Western Europe + USA

1,61
1,52
1,37
1,23
1,12
0,98

0,34 0,36 0,39 0,41


0,31 0,32

2000 2001 2002 2003 2004 2005

One-piece Syst

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Pricing Evolution

SYSTEM REFILLS
USA Retail Prices per cartridge

Venus Vibrance 458


Mach 3 Power 458
Intuition 431
Mach 3 Turbo 386
Venus Divine 383
Quattro 354
Venus 345
Mach 3 336
Sensor XL 257
Blue II 100
Source : IRI (US FDMX w/o Wal
Mart, initial coverage rate 55%) –
BIC exchange rate 2004
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Pricing Evolution

ONE-PIECE
Western Europe / US Average

Venus Disp 512

Sensor 3 324

Xtreme 3 276

Comfort 3 Adv 244

Soleil 244

Comfort 3 188

Custom Plus 127

Blue II 100

Classic 44

Source : Nielsen (initial coverage rate 77%) and


IRI (US FDMX w/o Wal Mart, initial coverage
rate 55%) – BIC exchange rate 2004 30
Key Observations

Triple-blades will play an increasingly important role


in the future of one-piece Shavers

Women products will play an increasingly important


role in the future of Wet Shave
Gillette consistently pushes the upper limits of
pricing in both Systems and One-Piece

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BIC Shaver Strategy
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BIC Shaver Strategy

Our vision: offer our consumers quality products at reasonable


prices in all segments of the One-piece Shaver Category

BIC® … A quality shave at a reasonable price!

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BIC Shaver Strategy

Our strategy

1. Invest in R&D to develop new products that meet consumer


expectations in a rapidly advancing technological market. The
3 areas of R&D focus are :

• Blade Edge
• Shaver Head Geometry
• Ergonomics and Aesthetic
Design

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BIC Shaver Strategy

• Blade Edge
Finding the proper balance of physical
properties to deliver closeness, comfort, fluidity
and safety
• Shaver Head Geometry
Understanding the impact of inter related
variables like angles and spacing using state of
the art computer simulation

• Ergonomics & Aesthetic Design


Finding the proper balance of ergonomic
features with an aesthetically appealing design

35
BIC Shaver Strategy

Ergonomics and aesthetic design

36
BIC Shaver Strategy

Our strategy

1. Invest in R&D to develop new products that meet consumer


expectations in a rapidly advancing technological market.
2. Focus on our development effort and marketing activity on the
fast growing triple blade segment for both men and women.
3. Leverage our strength in low cost manufacturing to ensure
that our triple blade products still offer great value to
consumers.

37
BIC Strategy Implementation
38
BIC Strategy Implementation

Focus on triple-blades

BIC’s original triple blade


entry product

Launched in Europe / USA in


2003

Strong growth in Year 2,


doubling market share in USA

Very strong repeat purchase


rates… consumer satisfaction

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BIC Strategy Implementation

Focus on triple-blades

Launched in Europe / USA in


2004

Very strong consumer and


customer acceptance

Challenging for market share


leadership in Women’s triple-
blades

Very strong purchase rates…


consumer satisfaction

40
BIC Strategy Implementation

Focus on triple-blades

Launched in Europe / USA in


March 2005

Positive customer acceptance

Expand shelf share and build


on positive momentum of
original BIC® Soleil®

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BIC Strategy Implementation

Focus on triple-blades
Launching in the USA
in March 2005

Access the large male


segment

Innovative ergonomic design

Still offer value consistent with


BIC’s vision “A great shave for
less”

42
BIC Strategy Implementation

Focus on triple-blades

Launching in Europe
in March 2005

Accelerate consumer trade-up


toward triple-blades

Bridge the price gap between


premium twins and triples

43
BIC Strategy Implementation

Focus on triple-blades

Launching in the US in 2006 to


increase trial of the BIC® Comfort 3®
franchise

Add a feature to BIC® Comfort 3®:


the pivoting head

Same price, more value for


consumer!

44
BIC Strategy Implementation

Focus on triple-blades
Launching in Europe in 2006

Accelerate consumers trade-


up to triple-blades.

Bridge the price gap between


premium twins and triples

45
BIC Strategy Results
46
BIC Strategy Results

KEY STRATEGIC PRINCIPLES

Invest in R&D to develop new products that meet consumer


expectations in a rapidly advancing technological market.
Focus efforts on the fast growing triple blade segment for both men
and women

• RESULTS…

47
BIC Strategy Results

KEY METRIC… Repurchase Rate

Measure of consumer satisfaction


% of households that repurchase a product after the
initial purchase
Source : IRI household panel tracking the purchases
of 65,000 households in the USA
Benchmark vs. Key Competitors

48
BIC Strategy Results

REPURCHASE RATE
5-Feb-05

60
43%

30%

30
14,8%
15%

0
Gillette Sensor 3 Schick Xtreme 3 Bic Comfort 3

49
BIC Strategy Results

REPURCHASE RATE
5-Feb-05

30 43%

30%

15
15%
14,8%

0
Gillette Sensor Schick Xtreme Bic Soleil
3 Women 3Women

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BIC Strategy Results

2005 Volume Share by Segment

WESTERN EUROPE USA

100 100

32,4%
32%
50
50 26,7%
27%
12,6%
13%
11,3%
11%

0
0
BIC Share of Tw in BIC Share of triple
BIC Share of Tw in BIC Share of triple
Blade Blade
Blade Blade

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