Interview with

Flavien d’Audiffret

Group CEO

“The Group’s strategy is to develop a portfolio of strong, identifiable brands, based on a quality product offer, powerful online and offline concepts, and peerless customer services.”

Flavien d’Audiffret, who was named Group CEO in November 2023, looks back on the highlights of FY23 and lays out the Group’s ambitions and strategies for meeting the challenges ahead.

What is your assessment of the financial year that has just ended?

We achieved a solid performance in FY2023 despite a difficult economic context marked by high inflation, which in turn had an impact on consumer purchasing power. Our accessible positioning allows us to successfully resist inflationary pressures and continue to grow by offering our clients the best products at the right prices.
Our investments in product offer, store concept, and brand communication, in combination with an improvement in in-store product availability, let us once more surpass our goals.
We are currently strong leaders in our core markets (France, Italy, Benelux) and are expanding rapidly in our other regions: Germany, Spain, China.

What were the main highlights of 2023?

We made progress on several projects that were important or structural for the Group. These include:

the launch of Histoire d’Or’s new brand identity, revitalising France’s favourite jewellery brand;
the launch of affiliation in France, which received a very warm welcome in the market – several partners want to open Histoire d’Or stores as affiliates;
the growth of our business in Italy with the roll-out of our new store concept, which is yielding excellent results;
the relaunch of Agatha which is showing very positive initial signs thanks to a brand repositioning that is truly in line with its DNA;
and finally the launch of WeTHOM, our sustainable development plan which marks the acceleration of our CSR commitments around our three pillars: bringing out the best in our employees, developing a responsible model, and offering sustainable products.

THOM has established itself in Europe as a leader in accessible jewellery. What is its goal today?

The Group’s goal is to build a world leader in affordable jewellery. We want to align with our purpose through our timeless and fashion jewellery brands. “Allow everyone to share a precious moment”.

What is our strategy for achieving this?

The Group’s strategy is to develop a portfolio of strong, identifiable brands, based on a quality product offer, powerful online and offline concepts, and peerless customer services.
Our portfolio includes traditional and timeless jewellery brands (Histoire d’Or, Stroili, Orovivo, etc.) and a range of fashion brands including Agatha (an iconic foothold brand) as well as Be Maad, Clyda, and Scooter. We will continue to invest in our timeless brands to consolidate our leadership in our key markets. We will also accelerate the development of our fashion brands, which have very distinctive identities and a very significant international potential.
Our goal is to offer our clients quality products for any occasion and at affordable prices. We also want to provide clients with the best possible experience using omnichannel services like click & collect, stock 2.0, and the ability to communicate directly with a sales advisor on our e-commerce sites and benefit from personalised advice.

How does THOM intend to develop its brand portfolio?

We are constantly on the lookout for opportunities to expand into new markets, whether through our own brands or through acquisitions. We are focusing first and foremost on organic growth, with the development of our existing brands, but also in new territories, particularly for our fashion brands. We also have a selective acquisition strategy to grow our portfolio with strong brands that have significant development and value-creation potential, and an international dimension to extend our geographical footprint.

What are the Group’s priorities for 2024?

We will continue to invest in our leading brands to consolidate their positions with initiatives like affiliation in France or retail development in Italy. We will also:

accelerate Orovivo’s development – the brand has significant growth potential in Germany, one of Europe’s biggest markets for timeless jewellery;
revive Agatha’s magic – the brand has extraordinary history and capital in the fashion jewellery segment;
develop our new high-potential fashion jewellery brands: Be Maad, Clyda, Scooter;
and accelerate the transformation of our distribution business towards trademark licensing.

How are you feeling heading into 2024?

Despite the very uncertain international context, and an economy that is showing signs of plateauing, I am confident that THOM is well-equipped to respond to the challenges it faces. The combination of our long-term investments into our brands, our expansive geographical footprint, and our recent acquisitions all make me confident about 2024 and the coming years. My optimism also stems from the quality of our teams, who skilfully serve clients and are at the heart of the Group’s success, as well as from THOM’s corporate culture, values, and leadership model, which are invaluable assets in achieving our objectives.
I want to thank every one of the Group’s stakeholders, who place their trust in us on a daily basis to continue to develop the Group and build a world leader in affordable jewellery.