Worse it has deviated from its original low cost

The Kingfisher (translated as "Kingfisher") group went fishing... the voice of French investors. Its very British Director General, Ian Cheshire, forty-nine years, does not, indeed, why the number three global distribution of products of the House management, side London (primarily) but also in Paris, accounts for only 2 of shareholders based in France. "In May 2002, 7 of our shareholders were based in France." Today, Kesa has almost 10 and we don't have more than 2, while most of our shareholders are located in the United States. "I do not find this normal", he explains in an interview with the "echoes".

Especially, insists, that the Franco-British group identity for him no doubt. That judge: a French non-Executive President, Daniel Bernard, former boss of Carrefour, activities in the hexagon first contributors to the result and with headed another Frenchman, Philippe Tible, a commercial Director group, French, Véronique Laury-Deroubaix, two signs, French always, Castorama and Brico-Depot, in Spain, Poland, and promising market in Russia... In short, "Kingfisher" indeed has the Union Jack on a wing and the Tricolor on the other. How, then, investment hexagonal Starting, first, by proposing a French version of the institutional site Kingfisher, as did Kesa. The slightest of things...

But the challenger, in the world, Americans Home Depot and Lowe's also has a beautiful story of "recovery", as British, to tell. Question, including its British sign B & Q, in difficulty in the 2000s. For evidence In early June, the group released its figures for the first quarter with an increase in its operating profit by 40, mainly due to the doubling of the benefits of B & Q. In the course of the action, he won nearly 50 over a year! To the point that the market capitalization of Kingfisher is passed back to that of Marks & Spencer. However, Ian Cheshire qualifies: "I think that B & Q completed his transformation." For the group, we have taken several of the 7 steps that we have fixed and it would need another three years to say that the goal is reached. "The purpose "Our goal is to reach a 7 profitability margin in three years, compared to 3 last year." "In the first quarter, we to 5.6," he said. A third will come from improving sales, one-third of that of the margin and one-third of the improvement of the cost.

Russo-chinois strategic challenge

If the United Kingdom, 14 stores will be renovated this year, in France, Kingfisher has a debate with the direction of Castorama on the rate of transformation of points of sale plan. "We remain cautious, because the market does not have good visibility." "If it stabilizes, even starts to rise, then we will accelerate", promises Ian Cheshire. But the true site in France, it is the Brico-Depot sign, more exposed to the construction market, and the concept has hardly changed. Worse, it has deviated from its original "low cost". Back in the right path, Kingfisher boss says that not less than 30 sites have been identified, where the cost of land is low and Brico-Depot may penetrate without cannibalizing Castorama.

With respect to the strategic challenge of the Franco-British group, it is in China and Russia that he was. In the Middle Kingdom, Kingfisher has not hesitated to close 11 stores and 9 other closures are planned. "We are working on a new format, but must be especially to stop the losses." After 50 million books in 2008, analysts expect to 35 million this year. "Our goal is to return to the balance as soon as possible", says Ian Cheshire. With the feeling of being on the right track, it gives "six months to see clearer". In Russia, the question is less whether it be to develop that how to do, given the difficulty to find good projects. The pattern of Kingfisher, for which the Russian subsidiary "account balance at the end of this year", said to be in the "pipe line" and think able to fund expansion at reasonable prices. "We have 7 stores and visibility to 30" With it teaches B & Q China and Castorama in Russia, and "taking the best of both sides of the channel, we write a beautiful story", concludes Ian Cheshire.