Kingfisher owns some of the UK and Europe’s largest home improvement brands such as the customer-facing DIY stores B&Q and Castorama and the more trade-focused ScrewFix. At the World Retail Congress (Madrid, April 2018), CEO Veronique Laury doubted the fast-forming orthodoxies that are beginning to define the sector.
She acknowledged that change must come, not least because “we are an industry of the 19th century. We employ a large number of low-skilled people.” This conception and this model needs to shift, she argued.
Kingfisher has had to weigh drastic changes, and, spearheaded by Laury, is deep into a program of major alterations to the core business model. After landing the chief executive role in 2014, she announced the ONE Kingfisher plan to unify the product sold across the company’s four main brands: B&Q, Brico-Depot, ScrewFix, and Castorama. In 2016, the company released a document providing further detail on the transformation, which aims to deliver £500m of sustainable annual profit uplift by 2021.