Amplifon: strategic approach and outlook for 2016-2018
Retail
Amplifon recently announced excellent results for 2015 with EUR 1 billion in sales but is also looking forward with high expectations in the global retail hearing care market, which it describes as “highly attractive”.
In a recent press release, the company presented its strategic objectives and financial expectations for the next three years. The information was also announced at Amplifon’s Analyst & Investor Day held on March 17th. The group, headquartered in Milan, Italy plans to build on its competitive advantage. In the release, Amplifon describes four main strategic pillars.
The company plans to focus on core countries, increasing its market share in the US, strengthening its leading position in Italy and Australia, and expanding its network in France, Germany, and Spain. Marketing investment is to increase with a new approach to communication and a new brand identity, among other projects. The group will promote innovation in its service model by leveraging the experience of its network of hearing healthcare providers. New investments will also go towards reinforcing the company’s “effective execution capability”, with an integrated global IT platform.
Given the record results for 2015 and a positive outlook for the market, it is not surprising that Amplifon has strong expectations for the coming years. The growth in revenue is expected to be faster than market growth, and the company gave a range of mid to high single-digit growth for the period in its forward-looking statement. The group forecasts a strong contribution +from all regions and plans to expand its network with more than 600 new stores between now and 2018.
Source: Amplifon S.p.A.
