- STRATEGY -
- Interview with Flavien d’Audiffret
Interview with
Flavien d’Audiffret
Group CEO
“In 2024, THOM continued to grow its brand portfolio and strengthen its leadership while remaining true to its positioning and purpose.”
What is your assessment of FY24?
Throughout a difficult economic context defined by a slow-down in consumer spending, soaring raw material prices, and competitors heavily reliant on promotions, THOM was able to demonstrate the resilience of its model by achieving a very solid FY24. Despite the unfavourable circumstances, we successfully recorded positive Like-for-Like growth across all our regions thanks to the unwavering commitment of our teams.
THOM continued to develop its brand portfolio and strengthen its leadership position in its primary markets, all whilst remaining true to its positioning and purpose – Allow everyone to share a precious moment.
The Group refinanced its debt in 2024. What lessons and perspectives do you draw from this?
Firstly, the success of our debt refinancing allowed us to measure the level of confidence of our investors, some of whom have been with us for several years. This confidence reflects the solidity and resilience of our business model. This operation also gives us the resources to continue developing our brand portfolio.
Did the Group’s governance change in 2024? What does that imply?
The year was defined by several changes in our governance – proof of the Group’s commitment to promoting its internal talent. My appointment as Group CEO in November 2023 was the last stage in a carefully coordinated transition plan launched in 2020 with Romain Peninque. A strategic committee was also created to bolster the Group’s decision-making structures while ensuring continuity in its governance.
Multiple talents from within the Group were also promoted to key positions. Kévin Aubert took over from Cyrille Palitzyne as CFO after a well-managed transition period which enabled him to take up his new position in the best possible conditions. Aurélien Sénéchal, the former Group Director of Operations, was appointed CEO of Stroili, while Hayat Zerouali, previously the France & Benelux Digital Director, was promoted to Group Purchasing Director. Finally, Arnaud Marques became the Director General of Timeway after his role as CEO of Stroili.
What were the other highlights of FY24?
Strengthening our main brands was of course at the heart of our strategy, with 16 openings of Stroili stores in Italy and 6 openings of Histoire d’Or stores in France and Belgium. In addition, the acquisitions of Be Maad and Deloison enabled us to boost our portfolio with high-potential brands. This is a great step forward for the Group, adding to AGATHA’s renaissance in Europe and China.
We also restructured ourselves to be able to continue innovating on and improving customer experience. We therefore created a Digital Factory, at the Group level, that brings together the business, IT, and project management teams to assist in the Group’s digitisation journey, which remains a key development lever. We also launched an Artificial Intelligence task force to explore and test out opportunities for the Group.
Over the course of FY24, we continued to invest massively in our recruitment and talent development and retention. Specifically, we launched Stroili Academy in Milan, which adopts the same model as THOM Academy in France to train every Group employee based in Italy.
What is the current status of the WeTHOM sustainable development plan roll-out?
Launched at the beginning of FY24, the WeTHOM plan is being rolled out across all our regions and brands. 20 projects covering the WeTHOM plan’s 3 pillars – people, a responsible model, and sustainable projects – have been launched. Our 6,500 employees and our suppliers are all conversant with and involved in the project. We have already made considerable progress such as:
• The 100% recyclable packaging plan, which will be rolled out during 2025.
• The success of the 3rd phase in the THOMtogether employee shareholding plan, meaning that nearly 1,400 of our employees are now Group shareholders.
The Group refinancing in February 2024 was also a way for THOM to show its strong involvement in ESG challenges by issuing Sustainability-linked bonds, linked to two KPIs followed as part of the WeTHOM plan:
• The reduction of our carbon footprint (GHG) by 16% in 2027 and 30% in 2030.
• The RJC or SMETA 4 certification of 85% our non-branded suppliers (tier 1) by 2027 (100% by 2030).
Finally, we’re extremely proud to have obtained the Great Place To Work® certificate across the entire Group – a reward for all the effort and investments made.
What is THOM’s roadmap for 2025?
In order to maintain regular, profitable growth and strengthen its leadership, THOM must remain true to its purpose and its strategy – Allow everyone to share a precious moment – by offering a wide range of affordable products combined with a premium customer experience.
In addition to our Like-for-Like growth, this year’s priorities are to accelerate the Group’s digitalisation, develop Histoire d’Or’s affiliation in France, expand our Stroili store network in Italy, relaunch AGATHA in France, Spain, and China, and develop our new brands.