Key priorities
Innovation
Our aim is to ensure that every Kingfisher product will enable a more sustainable, and ultimately net positive, lifestyle.
Key 2020 target:
1,000 products that have closed-loop credentials.
2011/12 progress:
We have embarked on a number of closed loop research projects and we are working closely with the Ellen MacArthur Foundation (as a founding partner) to understand how we might work through our supply chain to help switch to more renewable materials and to develop ‘closed loop’ systems – systems and processes designed to remove waste and create value in what otherwise might be wasted.
Key challenges and opportunities
- There is an opportunity to change fundamental business models, e.g. from selling to leasing products, so that we use fewer resources to provide more
- The ability to scale up innovations and new technologies can be a challenge for our larger operating companies when working with niche suppliers. New innovations, like closed-loop products, also take time to develop, test and experiment
- We have an opportunity to expand these product ranges across mainstream markets
- We continue to research and gain insight into customer behaviour and demands across different operating company markets
- We have an opportunity to broaden out niche areas like closed-loop innovation across our supply chain, particularly within our 11 common Group brands
- Innovation gives us an opportunity to experiment within the business where 'failure' is an acceptable part of learning. There may be an opportunity to consider options of ring-fencing creative innovation within the business
- We are developing effective 'take back' schemes to upcycle waste and benefit each partner involved (e.g. customer incentives and logistical requirements)
Overview
Our business is home improvement and we want to improve people's lives by helping them create better homes. This means being at the forefront of innovation to produce sustainable products and services for customers. Innovation is a Net Positive priority and our 2020 Foundations targets within innovation cover a range of work: from our eco-product innovation, to integrating sustainability principles in our common brand range to developing alternative services such as the ability for people to share products and services within their neighbourhood – which encourage sustainable living.
Our focus on developing new technologies, business models and creative ways to reuse resources builds on our strong track record in eco-product innovation. This work also involves partnerships and collaboration with other businesses and institutions. For example, over the past year we have been exploring ways in which materials can be reused to preserve resources and increase their value. This work into 'closed-loop products' is with the Ellen MacArthur Foundation and B&Q UK.
Innovation also involves our own processes, including the way we plan and design products, from packaging to reusing our own store and product waste. Our new 11 common brands will help to us to build a consistent approach to embedding sustainability, including common sourcing.
Our relationship with our customers is core to innovation – and we are conducting work to understand changing consumer attitudes towards sustainability. Our learnings and customer insights will feed into the creation of future products and services for Kingfisher.
4%
of sales from 'best in class' eco products
33,000
products with eco credentials across the Group
Other key priorities
Page last updated 25 June 2012.
The Group data and progress against targets within the Group CR performance section is updated annually. The latest Group CR data covers the Kingfisher financial year ending 28 January 2012 (referred to as 2011/12). The text is updated on an ongoing basis to reflect new developments.
