BuySell Top Message202311

Summary

The transcript appears to be a detailed account of a company's strategy meeting, where the CEO or a senior executive discusses the company's current status, challenges, and future direction. The speaker reflects on the company's performance, particularly in light of the third-quarter financial results, and outlines a vision for overcoming the difficulties faced. The summary emphasizes the importance of adapting to a tough business environment, with a focus on restructuring and strategic planning to achieve growth targets. The executive also addresses the need for a strong team with a shared vision, the pursuit of high customer satisfaction, and the ambition to become a leading player in their industry. The discussion includes plans for acquisitions, product development, and leveraging technology to enhance customer experience and operational efficiency.

Takeaways

• 📈 The company is aiming to become the industry leader in the luxury goods market, with a clear vision of being a top player like Uniqlo in apparel or M3 in the medical healthcare industry.
• 🎯 The company has set ambitious targets for growth, aiming for a significant increase in revenue and profit over the next few years, with a goal to reach a market capitalization of several hundred billion yen.
• 🚀 Emphasis on customer experience and employee benefits is a key part of the company's strategy, with plans to enhance both customer satisfaction and employee motivation and productivity.
• 💼 The company recognizes the need for structural reform, particularly in the area of inventory management and the acquisition of high-quality luxury goods to sell.
• 🛍️ There is a focus on expanding sales channels, including the use of e-commerce and live commerce, to reach a wider customer base and improve sales efficiency.
• 🌐 Global expansion is a strategic goal, with a particular interest in the Chinese market, where the company sees significant potential for growth.
• ♻️ The company is considering the reevaluation of its current business model, including the potential for 'creative destruction' where old strategies are dismantled to make way for new, innovative approaches.
• 📊 There is a commitment to data-driven decision making, with plans to collect and analyze more data across all business operations to inform strategic decisions.
• 🤝 Mergers and acquisitions (M&A) are seen as a key strategy for growth, particularly in securing a high-quality inventory and expanding the company's market presence.
• 📈 The company's leadership is confident in the potential for growth and is calling for a unified effort from all employees to achieve the ambitious targets set for the future.
• 🎉 There is a strong emphasis on enjoying the process of growth and change, encouraging employees to find excitement and fulfillment in their work as the company evolves.

Q & A

What was the main topic of discussion for the Basler company in the recent national meeting?

The main topic of discussion was the company's strategy and approach towards managing the challenging business environment, especially after the third quarter financial results were announced, and how to move forward effectively.

What significant changes did the Basler company consider for its future growth?

The company considered a restructuring plan, known as Basler 3.0, which includes focusing on customer experience, employee benefits, and building a strong team with a high production rate. They also emphasized the importance of high-value sales and the acquisition of quality stock.

How did the Basler company approach the issue of declining inquiries and visits due to the impact of the global crisis?

The company acknowledged the difficulty in obtaining inquiries and visits and communicated this challenge to investors. They planned to incorporate this worst-case scenario into their future strategies to ensure better preparedness and communication with the capital market.

What was the financial guidance provided by Basler for the current period and the next?

For the current period, Basler had to revise their initial guidance of a 45 billion yen operating profit down to 25 billion yen due to the third quarter's performance. For the next period, they aim for a growth rate of 30 to 40%, starting from the current 25 billion yen.

How does Basler plan to improve its customer experience and meet their needs more effectively?

Basler plans to provide a higher quality of customer service by offering 100 different solutions to 100 different customer needs. They aim to enhance hospitality and compliance, and to provide appropriate services that meet the specific demands of their customers.

What is Basler's vision for its position in the market in the coming years?

Basler aspires to become the number one company in the luxury goods industry, similar to UNIQLO in the apparel industry or M3 in the medical healthcare industry. They aim to achieve a sales target of 400 billion yen and an operating profit of 40 billion yen in the next five years.

What is the significance of the term 'Merubai' in the context of Basler's strategy?

The term 'Merubai' is a play on words combining 'Merukari' (Mercari) and 'Basler'. It signifies Basler's ambition to become a platform like Mercari, where they can achieve high sales volumes (GMV) without holding inventory, by offering services that are widely used by customers.

How does Basler plan to manage its employee benefits and create a strong team?

Basler plans to build a strong and motivated team by creating an environment that encourages growth and high performance. They aim to establish a team with a noblesse oblige, where everyone is driven to achieve high goals, thus creating a positive bias that uplifts the entire team.

What is Basler's approach towards managing its advertising and promotion expenses?

Basler plans to manage its advertising and promotion expenses more effectively by focusing on efficiency and productivity. They aim to achieve the same level of advertising spend but with better results by eliminating inefficiencies and focusing on strategies that yield higher returns.

How does Basler plan to enhance its product offerings through M&A and other strategies?

Basler plans to enhance its product offerings by acquiring companies with strong product lines, such as the recent acquisition of a company specializing in luxury goods like Hermès. They aim to integrate these products into their shops and online platforms to attract customers and improve their market position.

What is the importance of the 'high unit price countermeasure' in Basler's strategy?

The 'high unit price countermeasure' is a key strategy for Basler to increase their sales and profitability. They aim to find customers worldwide who are willing to pay a high price for their products, thus allowing them to buy goods at a higher cost and sell them at a premium.