Vitec designs, manufactures and distributes high quality, high performance, premium branded products and solutions in the growing “image capture and sharing” market. Our business model is focused on achieving five main strategic objectives.
At the Divisional level
We create value by:
Understanding customer needsplus
Our Divisions continually obtain feedback on market trends, competitors and their products from customers as well as from research. As we are market leaders, this enables us to remain close to our customers, anticipating and responding to developments to ensure that our brands remain at the forefront of the industry, renowned for their premium offerings.
Focused new product development and market leading brandsplus
Our experienced, specialist engineers apply new technologies, products and materials to develop high quality, high performance solutions. Our innovative products are protected by patents and trademarks and marketed under our world renowned brands. We produce the majority of our products in-house and work with selected, market leading partners for specialist solutions. We supplement in-house developments with carefully selected acquisitions in new markets and technologies.
Efficient supply chainplus
We procure materials from reputable suppliers and produce our products in efficient and environmentally friendly operations and, where appropriate, manufacture or source from lower cost countries such as Costa Rica and China. The majority of our operations are relatively low-volume, small-batch processes and our continuous improvement culture enables us to drive productivity in our core businesses.
We market our products and services through our own sales and marketing teams. The majority of our sales are conducted via a global network of distributors, dealers and retailers who sell on to customers. We are expanding our e-commerce capabilities through working closely with our customers to develop our online presence and have a particular focus on expanding in APAC. The breadth of products and our strong brand heritage means that our network of channel partners is unrivalled in the markets we serve. We also engage with a number of leading logistics partners to ensure responsive and timely delivery of our products to the relevant geography.
At the Group level
We create value by:
The Board and Operations Executive set Group and Divisional strategy, focusing on markets served, customer segments and products supplied.
Budgeting and monitoringplus
Vitec sets Group and Divisional budgets annually and regularly reviews Group and Divisional performance during the year. This includes regular forecasts to ensure that the financial performance is clearly understood and appropriate targets are set.
We communicate our strategy, performance, outlook and governance with our investors on a regular basis.
Treasury and taxplus
Vitec manages its financing, hedging and tax planning activities centrally to ensure that the Group has an appropriate structure and funding to support its geographically diverse business.
Acquisitions and disposalsplus
We buy businesses that provide a good return with clear synergies such as extending our technological, product or geographic footprint. We dispose of those businesses that do not fit strategically or do not offer scope to deliver attractive returns.
Vitec ensures that an effective Group wide governance framework and policies are in place to ensure a strong culture of governance and ethical behaviour.
We set an overall framework for reviewing and assessing risk and taking mitigating actions as part of the execution of our strategy.
Health and safetyplus
Vitec sets policies to ensure a healthy, safe and productive work environment for all our employees, and ensures they are complied with.
We work across the Group to ensure that we have consistent policies, processes and initiatives for acquiring, engaging and retaining our best talent.