Kingfisher’s Profile
Kingfisher’s Profile
In 1982, Paternoster acquired FW Woolworth giving rise to Kingfisher, in the United Kingdom (Kingfisher, 2012). Since then, it has undergone expansion through a series of acquisitions and alliances enlarging its role to include home improvement, electrical, health, and cosmetics. In 2000, the company decided to focus on home improvement business. Kingfisher expanded its networks to France, Turkey, Spain, Poland, Germany, Ireland, and Russia becoming Europe’s largest home improvement retailer (Stittle, 2003).
It also has presence in China. By 2012, operates 988 stores in eight countries in Europe and Asia (Kingfisher, 2012). It employs over 80,000 workers. The business generates approximately £11 billion annually; it generated 10.8 million in the financial year ended January 2012. Kingfisher serves over 6 million customers weekly. Its purpose is to enable customers to have easy access to high quality, sustainable homes.
Corporate and Social Culture
Kingfisher invests in motivation, engagement, and personal development of employees (Ibid). It also values and contributes to environmental sustainability by investing in opportunities that enhance environmental conservation. In addition, innovation and diversity drives Kingfisher’s business.
Business Model
King Fishers provides unique value to customers by harnessing its heritage as a leader in sustainability, global scale, sourcing capability, and home improvement experience to create new, sustainable, and affordable products to the market (Ibid). King Fisher offers project advice and new ways of shopping to complement its stores. In short, the company slogan for this purpose is better homes, “better lives”. King Fisher seeks to establish itself as a leader in delivering improved, sustainable homes. The creation of a market leader builds on the successful delivery of value, in home improvement.
King fisher unlocks additional benefit to its stakeholders, in terms of a valuable business for the shareholders, improved partnership for the suppliers, a brighter, secure future for its colleagues, and sustainable business for the local community. Delivering value and creating market leader define Kingfisher’s strategy. The key drivers for Kingfisher’s leadership is making home improvement easy for customers, providing customers with alternative ways to shop, and creating innovative brands. Others include expanding presence in existing markets, growing business in new markets and, building leadership and sustainability.
Lowe’s
Lowe’s started in 1946 as a small harder store, in North Carolina, USA. It is currently the second expansive home improvement retailer globally (Lowe’s, 2012). In addition to the USA, it operates stores in Canada, Mexico (Ibid, 2007). Its customer focus is home improvement. It operates 1,745 stores and employs 248,000 employees. In 2011, the company made sales worth $50.2 billion making $1.8 billion in profit. Lowe’s culture centers on improving communities, environment, and workplace.
Conclusion
Kingfisher and Lowe’s have a business focus on home improvement. Sustainability, innovation, leadership, and social responsibility are the common drivers shared by the organizations. Lowe’s has operations in North America while Kingfisher runs stores in Europe and Asia. Therefore, Kingfisher and Lowe’s can combine assets in a joint venture, in order to capture the rest of the international market.
References
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