Strategic Goals
Sales and Marketing
Our “land-and-expand” sales strategy focuses on the
acquisition of new customers and building our existing
customer relationships by using a direct sales model. In
addition, in the fourth quarter of 2021, we began to augment
our direct sales channel with partnerships. Over time, we
expect our partners to include department stores, speciality
retail chains, textile companies and furniture manufacturers.
We expect our partners to support our sales efforts through
referrals and co-selling arrangements, (test Sparda) s well as
expand the use of Avikro through integrated internet (online)
offerings.
Our customer success and professional services teams help
our account managers build our existing customer
relationships by providing advice
and best practices that enable users to harness the full power
of Avikro. We believe our sales strategies position us to build
relationships over time as we expand to additional markets
and geographies.
We have a broadly diversified customer base; our largest
customer represented less than 1% of our revenue in 2021.
We believe that we have exceptional customer satisfaction,
as evidenced by our European Customer Satisfaction Index
(ECSI) score of 75, as well as our American Customer
Satisfaction Index (ACSI) of 71, as of the December 2021
measurement date.
We have experienced high revenue growth since the opening
of our first store in March 2010, and our first internal store in
October 2010. Our revenue increased from €14.9 million in
2020 to €178.6 million in 2021, representing a 64%
compound annual growth rate. Approximately 32% of our
revenue in 2021 was derived from online offerings.
Corporate Governance
Avikro strives to be the employer, retailer, investment and
neighbour of choice in the home improvement industry.
Corporate governance is part of our culture and is founded on
our daily commitment to living values and principles that
recognise our ethical obligations to our shareholders,
associates (employees), customers, suppliers and the
communities in which we operate. We understand our
responsibility to behave ethically, to understand the impact
we have on people and communities and to fairly consider
the interests of a broad base of constituencies.
Aligning with this mission is the Company's long standing
commitment to strong corporate governance practices.
Materiality and Stakeholder Inclusiveness
As a global manufacturing company, we recognise the
importance our local communities and global stakeholders
have in our commitment to operating responsibly and
contributing to sustainable growth at Avikro. We engage
regularly with the local communities in which we operate
through newsletters, public meetings, outreach opportunities
related to permitting efforts, environmental and community
topics, presentations, ongoing communications with investors
and employees, and other engagement efforts. As
expectations of sustainability and environmental stewardship
are increasingly heightened, we are developing concrete
plans for more active engagement throughout the many
communities we reach.
In 2021, we conducted a stakeholder analysis through which
we leveraged the expertise of our employees to help define
material business issues. This initial dialogue identified key
needs and issues related to Avikro. We intend to include our
customers, partners, vendors, suppliers and shareholders in
this process as we move forward.
As we grow our operations globally, our commitment to
sustainable, responsible growth is shown in our efforts to
strengthen relationships with key stakeholders through open
communications.