NATUREX, the global leader in specialty plant-based natural ingredients, announces its strategic plan that sets the group’s vision and ambitions for the next 5 years.
NATUREX’s first major strategic plan, BRIGHT2020, is the fruit of a company wide project involving many employees, in addition to the Executive Committee. The new strategy has the full backing of the Board of Directors and majority shareholders.
BRIGHT2020 reinforces NATUREX's unique position as a pure natural player in a market facing many environmental, social, economic and regulatory challenges.
The overall potential for this market is estimated at more than $8 billion dollars. BRIGHT2020 puts the consumer at the heart of NATUREX’S culture and business model, with the goal of disciplined development delivering sustained and profitable growth.
The success of the plan resides in NATUREX’s excellent strengths together with a clear mission: 'We actively foster the global shift to natural. We sustainably reveal and magnify the treasures of the botanical world to serve our customers in the creation of natural, genuine products that care for, delight and improve the health of consumers.'
'The Board of Directors has been closely involved in the conception of BRIGHT2020. It is an ambitious project that will enable NATUREX to pursue its development in a coherent and disciplined way,' explains Paul Lippens, Chairman of the NATUREX Board of Directors.
'We are convinced that NATUREX’s management team possesses the know-how and ability for this project to succeed and to place this unique group on a path to long-term sustainable profitability.'
'BRIGHT2020 forms the framework for NATUREX to seize the opportunities created worldwide by the demand for natural ingredients across all food, beverage and selfcare products. It has been the focus of our group during the past few months,' declared Olivier Rigaud, Chief Executive Officer.
'I have set an ambitious but achievable roadmap, with financial goals that I am certain we can deliver. This strategy aims to leverage to the full strengths of the group, our people, our breakthrough innovation, our ability to meet our clients’ requirements and the expectations of the end-consumer.'
BRIGHT2020 is founded on six pillars across three principles
CARE
Two pillars addressing the importance of NATUREX’s employees, clients, suppliers and other stakeholders who are at the heart of the business model.
Sustainable development: The exploitation of natural resources close to suppliers and local communities around the world means NATUREX must ensure that its sustainable development initiatives are supported by concrete actions on an ongoing basis.
The 'Pathfinder' programme contributes to the worldwide sourcing of sustainable raw materials that preserve biodiversity. NATUREX also develops extraction technology to reduce the environmental impact and improve the living conditions of local communities where it operates.
NATUREX’s corporate culture: To reinforce the corporate culture at NATUREX, human, motivation and diverse values are key to attract the best talents and build the strongest career management. The group will also focus its HR management in developing competences that support the strategy and reinforce its managerial culture and promote individual commitment.
EXECUTE
The pillar Execution and Simplification is essential to ensure the success of BRIGHT2020. To meet the growing demand from its customers, NATUREX plans to improve its operational efficiency and performance. To achieve this objective, the group will optimise its product portfolio, simplify its business model and work to increase the utilisation of its production facilities.
GROW
Developing markets, innovation and science, and consumer focus are the three pillars that will drive the group’s growth ambitions.
Developing markets represent an important growth opportunity, being driven by the development of a middle class with increasing spending power looking for natural products.
Innovation and science are key to NATUREX’s future development. It will be applied to all areas of raw material sourcing, extraction processes and final products. An incubator will be established to seek new breakthrough technologies, and to develop application laboratories for new product concepts, with advanced scientific properties. 'Open Innovation' and external acquisitions will serve to accelerate innovation through partnerships or the acquisition of specific expertise.
Consumer focus is at the heart of NATUREX’s mission. The focus of NATUREX’s business model will shift from an industrial approach targeting complex product ingredients (Ultimate Botanical Benefit) to end-consumer expectations (From Nature to You). With two dedicated platforms, 'My Natural Selfcare' and 'My Natural Food,' NATUREX will provide its customers with integrated solutions that answer the expectations of the end-consumers with regard to selfcare, health and nutrition.
The combined benefits from these three growth drivers will enable NATUREX to become a leader in each of the four strategic categories chosen by the group: natural colours, natural antioxidants, phytoactives and specialty fruit and vegetables.
For more information, click on the links below
BRIGHT2020, its objectives and strategic pillars explained by Olivier RIGAUD, click here.
BRIGHT2020, the presentation of the strategic plan, click here.
To access a webcast of the presentation, click here.
