Particularly for professional services organizations such as Goldman Sachs, human capital is of the utmost concern. Here, we engaged with them to maximize their ability to attract top tier talent across a broad array of candidate segments.
Luxury hotels like their retail counterparts should reflect both their organizational brands and their local communities. Here, we blended the client’s reputation for five star service with an iconic London address.
P&C works with clients to transform their businesses, tackling issues ranging from corporate strategy, digital reinvention, cybersecurity, human capital, and global supply chain optimization to diversity and inclusion. These capabilities enable such organizations to respond nimbly to external shocks and truly differentiate themselves.
P&C considers the impact upon communities as a core aspect of all our initiatives. Nextdoor exemplifies this spirit of deep community engagement, supporting local organizations through leadership, empathy, transparency, and the thoughtful development of technology.
Much of P&C’s work with clients relates to driving innovation and leading change. At 3M, innovation builds upon expertise in manufacturing, logistics and product development, applying technology to deliver solutions at the forefront of material science.
We foster connections between clients and help them accentuate their myriad impacts. Here, leaders from Goldman Sachs and Nasdaq discuss topics ranging from cooperative capitalism, the role of capital markets in helping the economy respond to shocks such as COVID-19, and the promotion of diversity.
Few sectors have been more severely impacted by COVID-19 than airlines. This video highlights many of the issues we confront with our airline clients, including ensuring the health and safety of customers and employees, adjusting to dramatically lower demand, creating enterprise resiliency, and pulling the future forward to drive a strong recovery.
How do you lead through crisis? Many of our engagements involve navigation through complex issues and sensitive situations. Here, clients discuss fundamental principles specifically in the context of the pandemic.
Luxury retail is another sector severely impacted by the pandemic. In tandem with efforts to resume normal retail operations, we never forget the enormous dedication and contributions of client employees.
P&C and our clients harness talent from many different cultures and backgrounds, which we emphasize as a strength to attain our objectives.
To maximize recruiting outreach, this client video demonstrates career opportunities for a diverse set of candidates.
Particularly for professional services organizations such as Goldman Sachs, human capital is of the utmost concern. Here, we engaged with them to maximize their ability to attract top tier talent including technology leaders.
Successful brands resonate with their customers, not just by serving immediate needs and reflecting trends, but by actively shaping expectations. Our clients affirmatively define elegance.
With technology emerging as a critical core competence across many of our clients, we are often asked to help build in-house capabilities for these organizations.
This recruiting campaign highlighted fulfilling career opportunities at our client available to a diverse set of candidates, which triggered significant engagement with these audiences.
P&C helps position our clients as the standard-bearers for style and sophistication. The “Elegant Guide to Life” content series delivers value-added content for key customer groups.
We understand how to cater to affluent consumers. This segment for the Mandarin Oriental, Paris, highlights the atmosphere, services, and amenities available to its guests both on premise and in the surrounding locale.
CoutureCo*, a legendary European couture house, recognized its competitors were gaining tremendous market share from a new generation of buyers who were evaluating and ordering using mobile platforms. Merchandise assortment, availability, and logistics challenges hindered performance at a growing network of branded stores, further impacting customer perception and sales. The company sought P&C’s guidance to develop an effective omnichannel strategy and to optimize its logistics processes. With P&C’s expertise and support, the company developed and launched an integrated strategy which delivered a seven-fold increase in mobile revenue in one year.
The Situation
An effective omnichannel strategy presents retailers with a significant opportunity: The marriage of digital and physical worlds creates a whole new value equation and CoutureCo realized it needed the right strategy and a solid implementation effort to succeed. In today’s omnichannel world, the journey has more stages than ever, with the customer deciding not only where, when, and what to buy, but which channels to use and the role each will play. The linear route through the classic purchasing funnel has morphed into a fluid and dynamic process as boundaries between marketing and selling online and offline blur—and often disappear entirely.
CourtureCo’s historic success was due in large part to sales from their company branded stores as well as a carefully curated selection of luxury department stores. The company maintained disintegrated e-commerce channels (its own digital presence plus the digital presence of the luxury department stores), but its internal e-commerce and branded stores were not integrated.
E-commerce channel sales accounted for only 9% of its total revenue (compared to 30%+ enjoyed by its top-performing competitors) and often offered more discounted, off-season products or products for upcoming season not yet available for sale. Further, the company was hindered by inefficient logistics which led to unavailability of in-demand products and poor execution of direct-to-customer and direct-to-store orders which negatively impacted customer perceptions and satisfaction.
Our Approach
P&C worked closely with CoutureCo’s key project stakeholders–C-level leaders and stakeholders from across the company as well as their global logistics partner–to address key questions related to the company’s omnichannel opportunity:
P&C led the key stakeholder team through a process to create a shared vision for the future state–a high-level roadmap, grounded in industry best practices and differentiating but attainable outcomes, which would represent the best outcomes from their omnichannel and logistics optimization efforts.
We established a targeted set of outcomes to define success. The targets included: mobile and online revenue increase of 2-3x and mobile users increase of 4-5x in one year from launch.
In addition, we created three cross-functional teams–led by P&C–to tackle the omnichannel strategy, development of the mobile platform, and logistics optimization workstreams.
Our Recommendations
The Results
With P&C’s expertise and implementation, CoutureCo’s omnichannel strategy, optimized global logistics solution, and investment in mobile delivered: 7x increase in mobile revenues and 10x increase in mobile engagement.
*We take our clients’ confidentiality seriously. While we’ve changed their names, the results are real.
GlobalCo*, a diverse conglomerate with operations in 118 countries and over 160,000 employees worldwide, recognized that some of its portfolio companies were missing their profitability targets among other performance issues. The company sought P&C’s guidance to identify and solve the performance and profitability issues at its holding companies.
The Situation
GlobalCo, a diverse conglomerate with operations on five continents, owned businesses in multiple industries including logistics, biopharmaceuticals, commercial real estate development, energy and exploration, financial services, technology infrastructure, and luxury retail. GlobalCo’s board of directors had set a minimum rate of return for invested capital for their portfolio companies, but some fell below their goals. In addition, given the rapidly growing size and scale of some its portfolio companies, GlobalCo sought opportunities to share infrastructure across the enterprise to leverage its economies of scale and reduce duplicative costs. After evaluating and eliminating complex proposed solutions with unclear outcomes from multiple global consultancies, P&C was engaged to address the following challenges:
Our Approach
P&C worked closely with GlobalCo’s key stakeholders – C-level leaders and stakeholders from across the company and board of directors – to gather, consolidate, and prioritize the expected outcomes of the solutions sought.
With input from key client stakeholders, we created specific frameworks to address each challenge:
Our Recommendations
P&C’s top priority was to identify which of the underperforming businesses had potential for substantial growth and which needed to be divested. Concurrently, we wanted to identify potential opportunities to improve businesses already performing well along with potential M&A opportunities to scale those businesses to a new level.
The Results
GlobalCo divested all low-potential, non-performing businesses, made two strategic acquisitions valued over $7 billion, and created a state-of-the-art shared services organization which reduced $375 million in annual costs across all of its businesses. In addition, return on operating income increased from 12 to 27 percent over a 2-year period across all businesses.
*We take our clients’ confidentiality seriously. While we’ve changed their names, the results are real.
ApparelCo*, a European based apparel retailer with over 250 stores in 2 countries, sought P&C’s guidance to improve performance after missing earnings expectations for the first time, causing a significant share price decline.
The Situation
ApparelCo, a European apparel retailer with over 250 stores spanning 2 countries, had enjoyed rapid growth and was planning to more than double its store count within 3-5 years and diversify into new channels, products, and geographies. Despite its successful growth, the company had failed to meet its earnings expectations for the first time, causing significant share price decline. Investors blamed a variety of factors including concept saturation, under-performing new stores, and higher than expected operating costs. In addition, costs associated with a poorly timed rebranding effort had escalated dramatically and created customer confusion, negatively impacting sales.
ApparelCo asked P&C for answers to three questions:
Our Approach
P&C worked closely with ApparelCo’s key project stakeholders—C-level leaders and stakeholders from across the company—to gather, consolidate, and prioritize the expected outcomes of the performance improvements sought.
First, we identified the company’s core strengths. Next, we conducted a thorough analysis of their costs and analyzed their sales data to identify performance impacting patterns. Upon fully understanding the costs and sales data, we articulated the company’s performance improvement options in detail.
Our Recommendations
P&C recommended six concurrent performance improvement initiatives to address ApparelCo’s issues. Working with the company’s key stakeholders, P&C led the execution of each of the concurrent workstreams.
Revenues
Marketing
Organization
Key driver of comparative store sales out-performance (15% higher than retail industry average over multi-year horizon)
Products
Procurement
Profitability
Drove €55M+ of annual savings after year one
Drove €12M of annual savings
Operations
People
Real Estate
Saved €38M in annual labor staffing costs
20% annual R&M savings and a 7% increase in new store ROI
The Results
P&C delivered €105M in annual cost savings and transformed key aspects of ApparelCo’s procurement, merchandising, marketing, real estate, and store operations which led to immediate and sustained revenue, cost, and competitive differentiation improvements. These outcomes created over €2.8 billion in shareholder value since the start of the engagement.
*We take our clients’ confidentiality seriously. While we’ve changed their names, the results are real.
REITCo*, one of the largest multi-family REITs with over 120 luxury apartment communities throughout the U.S., had a stellar reputation with its customers and investors. Its competitors had grown rapidly via acquisitions and were now extending their reach into REITCo’s key markets. The company sought P&C’s guidance to transform its business, internally, to better serve its customers and prepare for substantial growth via acquisitions.
The Situation
Although the multi-family REIT industry, as a whole, was not known for its innovative use of enterprise technologies including application software, customer-facing mobile and web solutions, and adoption of IoT/Smart building technology, senior leaders at REITCo had a larger vision in mind.
The company’s C-level leaders asked P&C for guidance on the following topics:
Our Approach
P&C created a 4-step approach to address the opportunity and overall business objectives.
Our Recommendations
P&C recommended 5 major components vital to meeting REITCo’s objectives:
The Results
REITCo’s incredibly fast-paced deployment of its Digital Reinvention Program was a tremendous success. The legacy enterprise systems were replaced with a world-class product suite from one vendor. Concurrently, the new company website and its expansive prospective and existing customer portals were designed, developed, and launched. The unified corporate social media presence on Facebook, LinkedIn, and Instagram were also designed, developed, and launched.
P&C led the vendor selection process for the company’s new enterprise application suite–using its partner ecosystem to engage C-level executives at each of the global software companies evaluated. This was to ensure REITCo had the highest level access to secure the most effective pricing and contractual negotiation outcomes.
P&C also led the design, development, and launch of REITCo’s new website, digital customer portals, and social media platforms.
REITCo’s Digital Reinvention program delivered impressive results on the three key measures the company’s leaders chose for the initiative: Same Store Sales (9% higher), Same Store Net Operating Income (12% higher), and total company revenues (11% higher excluding asset sales).
*We take our clients’ confidentiality seriously. While we’ve changed their names, the results are real.
Ever respectful, thoughtful, and tasteful, P&C partners with luxury retailers to educate and inform crucial customer segments such as Paris Fashion Week participants, transitioning from isolated interactions towards long-term brand loyalty.
By tailoring advice to their consumers, here for Milan Fashion Week dress styles, P&C helps develop luxury retailers into trusted advisors.
To forge strong relationships with their clientele, P&C works with luxury retailers to provide unique insights, for example introducing consumers to typical dress for London Fashion Week.
With a keen sense of the aspirations and perceptions of affluent consumers, we help shape our clients’ engagement with these audiences during key events such as New York Fashion Week.
P&C’s engagements with luxury retailers not only develop cutting-edge solutions such as mobile store guides, but consider and communicate how they will improve the overall shopping experience of their clientele.
By implementing loyalty rewards programs, we not only assist luxury retailers in consolidating their share of wallet among target segments, but assemble detailed profiles of their customer base to enable personalized experiences that surprise and delight. For us, it’s all about truly knowing your customer and then catering to their needs.
Initiatives such as Harrod’s Interiors cement our clients’ roles as trusted advisors with their end customers, and expand the range of product categories they can offer, thereby deepening valued relationships.
Blending digital reinvention and customer experience design capabilities, we develop distinctive solutions such as mobile store guides that enhance the shopping experience and distinguish our clients.
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