Our business model offers unique advantages to our customers and over our competition.

Competitive advantage

High-quality, low cost, vertically integrated manufacturing:

Our advantaged business model has enabled us to achieve stronger-than-market growth. During the pandemic, the agility we have through our vertically integrated manufacturing model has proven its worth, allowing the Group to withstand supply chain disruption.

We had another year of record output from our manufacturing plant in China and ownership and responsiveness of this facility enabled sales growth in a challenged year.

Strong product development:

Despite the challenging market backdrop, we maintained our focus on innovative product development in 2021.

New product launches in the year included 30W Type-C USB sockets, providing our customers with the most powerful and fastest-charging USB wall sockets.

We also increased our presence in smart home systems, launching Luceco Smart!

We have a strong pipeline of product development and new launches in 2022.

Strong, well invested and expandable brands:

Our brands have a clear meaning within our loyal customer base. They stand for thoughtful design and high quality at a competitive price point. We use product development to extend our brand equity into adjacent product categories.

Entrepreneurial, can do culture:

Our culture was critical to the success we achieved last year. Our “can-do”, customer-centric culture allowed us to quickly adapt our manufacturing and inventory, fulfilment and prices, all of which enabled us to tackle global supply chain disruptions effectively.

How we add value

Design

  • We are the innovators within the product categories we serve. Innovation allows us to up-sell and improve profitability
  • We bring new ideas to market quickly
  • Our designs offer great quality at a great price
  • Our designs start with the customer in mind

Make

  • We operate a vertically integrated manufacturing model
  • Our production output is agile, particularly during COVID-19
  • Our facilities are well invested, allowing us to make high quality, low cost products
  • We have long-established OEM partners
  • Our customers know where our products come from and the conditions in which they are made

Fulfil

  • Our supply chain:
    • Is flexible to customer needs
    • Offers high outbound service levels
    • Maintains a breadth of inventory close to the customer
    • Uses the best available technology
    • Offers products as part of a solution

Market

  • We have been serving our largest customers for many years
  • We have a highly skilled and experienced sales team
  • We operate in diverse but synergistic sales channels
  • We invest in our digital presence and estate
  • We invest in the next generation of electrical contractors

Outcomes

People:
1,642
Number of employees

Customers:
1,907
Number of customers

Suppliers:
>1,000
Key suppliers

Shareholders:
40-60%
Annual dividend payout

Communities:
Actively
supporting

Training of electrical contractors

Environment:
25%
Revenue from low
carbon products

Underpinned by our culture

Our culture facilitates delivery of the above

Customer-driven

We design products with our customers in mind
We continually improve their experience

Team-focused

We provide talented people with great opportunities
We reward achievement

Bold and innovative

We think differently
We move quickly
We trust each other to deliver

Principled

We do what we say
We do what is right
We never compromise on safety