Henkel outlines 4-point strategy
Henkel Thailand Ltd, a unit of the Germany-based company, has outlined four core strategies in its business plan that will run through 2020.
President Erik Edelmann said the company’s “Henkel 2020+” strategy will focus on driving growth, accelerating digitalisation, increasing agility and funding growth.
Henkel operates in two business sectors in Thailand: haircare and adhesives for industry.
Driving growth in mature and emerging markets will be a key strategic priority for Henkel, said Mr Edelmann, adding that the company will launch a range of targeted initiatives to create superior customer and consumer engagement, further strengthening its brand and technologies.
Developing innovations and services and capturing new sources of growth are also parts of the plan, he said.
By 2020, Henkel Thailand will implement a range of initiatives to drive its digital business, leverage Industry 4.0 projects and transform the organisation. Globally, the company aims to double its digitally-driven sales to €4 billion (150 billion baht) by 2020.
The company also aims to create a more agile organisation with streamlined processes, faster time to market and empowered teams.
With the strategy, Henkel hopes to achieve average sales growth of 2-4% globally over the next four years.
“We are committed to continued investment in Thailand, particularly in people’s digital skills. Thailand is a very important emerging market for Henkel,” said Mr Edelmann.
He said Thailand’s large consumer base and growth of middle income earners who are ready to spend on beauty and haircare products are factors driving business in the country.
Thailand also has key industries such as automotive, electronics and electrical appliances and oil and gas that serve Henkel’s adhesives business in the country, said Mr Edelmann.