RugVista Group helps people to a home they love.
RugVista Group has defined three visions, each of which has a clear ambition.
The Company’s business vision is to be the center of gravity for the European rug industry, which is intended to be achieved through continued improvement in the Company’s ability to attract and understand potential customers’ needs. Furthermore, the Company intends to continue to engage users with its assortment which can only be bought via RugVista Group’s online stores, to continually improve internal processes and marketing activities, and to begin the work of becoming an even more well-known brand.
The Company’s sustainability vision is to lead the rug industry towards a sustainable future through its work on sustainability issues. The Company is a member of Amfori BSCI and has a partnership with Label STEP. RugVista Group is working with a clear long-term sustainability strategy (“LEAD.CHANGE”) and by carrying out a number of initiatives and introducing additional KPIs that are clearly defined for achieving the Company’s ambitions.
The Company’s organizational vision is to attract, motivate, and retain extraordinary people which intends to promote the Company’s organizational culture and the long-term engagement of employees in the Company’s positive development, which is intended to be achieved by offering a positive work environment, regular employee surveys, frequent development opportunities, and enhanced benefits package. In addition, a new recruiting platform has been introduced, which the Company believes has resulted in a more efficient recruitment process.
RugVista Group has a clear strategy for continued profitable growth. The strategy is aimed at allowing RugVista Group to benefit from the growing proportion of online sales within the rug market through improved operational efficiency within the organization. The strategic plan includes the following areas:
Maintain and strengthen the market position in Europe
The European rug market was valued at USD 23 billion in 2019 and the online market share is estimated at 16 percent. RugVista Group anticipates that the transition from sales in physical stores to online sales will continue, which is supported by the Market Study, and we aim to take advantage of this development. Increased online penetration will result in a larger addressable market for RugVista Group and a possibility to grow without being dependent on growth of the rug market as such. In addition to benefiting from the underlying growth of the online market, RugVista Group expects to gain market shares and thus grow more rapidly than the market, by executing the Company’s clearly defined strategy. RugVista Group is aware of the fact that it is crucial for the Company’s long-term success to be able to offer a broad, sustainable, and relevant product range at its online stores. The Company therefore plans to continue to improve the customer experience by regular optimization of the product range in combination with other aspects that affect the overall customer experience.
Continue to develop the assortment based on the customers’ needs
RugVista Group is striving to achieve a leading position within all rug categories and thereby further improve the Company’s position on the European market. RugVista Group believes that a broad and relevant assortment within all rug categories is important for creating lasting competitive advantage, towards both customers and suppliers. High volumes and large-scale within a category generally also lead to favorable purchasing terms from suppliers. The Company is continuously working to optimize its product portfolio and, through this work, has identified multiple opportunities to offer an even more attractive assortment.
The Company is constantly striving to offer its customers the best shopping experience online and is constantly developing its customer offering. The Company believes that high customer satisfaction is crucial for achieving long-term success. RugVista Group therefore plans to continue to work to improve the customer experience by constantly developing the product range and by improving the experience with respect to both the purchasing and delivery procedure.
Utilize the technical platform and data to further develop commercial and operational efficiency
The Company intends to continue the work on improving and developing its integrated technical platform. The platform allows the Company to continue to offer its customers a broad and relevant range with the best possible customer experience. The Company expects to be able to benefit from its large volume of data, artificial intelligence, and machine learning principles in order to increase order frequency, the average order value, and marketing efficiency. RugVista Group further believes that the Company is well prepared for additional growth due to scalability in the integrated technical platform, the centralized organization, and the capacity space at the Company’s fulfillment centers.
Strengthen RugVista Group’s position on selected online platforms
The Company is striving to increase its sales via other relevant and rapidly growing online platforms such as Amazon. RugVista Group’s net revenue via selected online platforms increased from SEK 1.2 million in 2018 to SEK 12.8 million in 2020. In order to achieve the goal, the Company intends to adapt and optimize the assortment which is offered based on demand occurring on the platform. Furthermore, and specifically regarding Amazon, the Company is evaluating possibilities to achieve “Prime”-status, which is expected to increase demand for the products that the Company offers via Amazon.
Strive to be industry leader within sustainability
RugVista Group strives to be the industry leader within sustainability, which the Company believes will benefit the customer experience and the Company’s stakeholders. Accordingly, the Company has initiated a long-term sustainability strategy (“LEAD CHANGE”) with a related code of conduct for suppliers to further clarify and ensure that the Company’s suppliers and their subcontractors are responsible for the effects of their decisions and activities have on people and the environment. Within the scope of RugVista Group’s sustainability work, the Company has also identified a number of areas in which the Company can contribute to the UN’s sustainability goals.