Previously we looked at the elaborated marketing strategy of Microsoft, the world’s leading software application provider. Now, let us hop over and look at the elaborated SWOT Analysis of Victoria Plc.
A leading designer and producer of flooring products – Victoria Plc consists of many brands under its name to distribute a wide range of products including carpets, ceramic and porcelain tiles, underlay, LVT, artificial grass and flooring accessories.
Another aspect that has made Victoria Plc a giant today is marketing. Marketing changes as the world goes online, and when you want to stay up to date – check out our Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah.
Want to see how Victoria Plc has succeeded in the software industry? In this blog, you will learn about the SWOT analysis of Victoria Plc. Before we get started, learn more about Victoria Plc‘s company, how it was established, its products, financial position, and its competitors.
About Victoria Plc
Victoria Plc group operates in the UK, Europe and Australia and employs approximately 2,600 people across more than 20 sites. The company was established in the year 1895 and since then it is an international manufacturer and distributor of innovative flooring products.
The Group develops, manufactures and distributes a wide range of carpets, ceramic and porcelain tiles, underlay, LVT, artificial grass and flooring accessories, aimed at the middle-to-upper segment of the market. It is the largest manufacturer of carpets in the UK and the second-largest in Australia, as well as the largest manufacturer of underlay in both countries. Victoria’s Saloni ceramics is also a major player in the European ceramics market.
The Group’s strategy is designed to create value for its shareholders and is focused on consistently increasing earnings per share via acquisitions and sustainable organic growth. Victoria Carpets was awarded the Queen’s Royal Warrant in 2013.
|Origin||Victoria Road, Kirkcaldy, Scotland|
|No. of Employees||3000+|
|Market Cap||$860.455 Million (2021)|
|Annual Revenue||£662.3 Million (2021)|
|Net Income/ Profit||£79.8 Million (2021)|
Products by Victoria Plc
- Underlay & Accessories
- Artificial Grass
Competitors of Victoria Plc
- Kraus Flooring
- The Dixie Group
- Mohawk Industries
- Beaulieu Canada
- Headlam Group
- J&J Flooring Group
- Shaw Industries Group
- Tai Ping Carpets
As now we have a better understanding of Victoria Plc, let’s look into the SWOT Analysis of Victoria Plc.
SWOT Analysis of Victoria Plc
A SWOT analysis identifies a company’s strengths, weaknesses, opportunities, and threats. A proven and true management paradigm that allows Victoria Plc to compare its business and performance with competitors and the industry as a whole.
So let us go ahead and first have a glance at the strengths of Victoria Plc from the SWOT analysis of Victoria Plc.
Strengths of Victoria Plc
- Superior Product Offering: Victoria Plc is offering a range of ceramic products for the last 2 centuries and its styles of tiles and ceramics with reasonable price points focuses on the mid-to-upper end of the market, as well as providing market-leading customer service.
- Motivated Employees: The employees of Victoria Plc are highly motivated, independent and appropriately towards the brand and product range. The brand ensures delivery of premium service and drives profitable growth.
- Controlled Expenses: Victoria Plc has multiple production sites with flexible, capable and cost-effective production levels. To maintain a low level of operational gearing the company maximizes its overall efficiency.
- Agile Investment: The investment by the brand is always agile to ensure long-term quality and sustainability, whilst maintaining a focus on the cost of capital and return on investment.
- Distributiоn аnd Reасh: Victoria Plc hаs а lаrge number оf оutlets in almost every stаte, suрроrted by а strоng distributiоn netwоrk thаt mаkes sure that its products аre available easily to a large number of сustоmers in а timely mаnner.
Weaknesses of Victoria Plc
- More Investment is Needed in New Technologies: Given the scale of the expansion and the multiple geographic regions in which the company will expand, Victoria Plc’s overall integrating processes requires more money to be invested in technology. Current investments in technology are not aligned with the company’s vision.
- Financial Planning is Not Being Performed Properly and Efficiently: The liquid asset ratio and liquidity ratio indicate that a company can use its cash more efficiently than it currently is.
- High Labour Outflow: Higher dropout rates compared to other organizations in the industry, Victoria Plc, and have to spend significantly more on employee training and development than their competitors.
- Not Very Successful in Integrating Companies with Different Work Cultures: As mentioned earlier, Victoria Plc is successful at integrating small companies. It has its share of failures to merge firms that have different work cultures.
- High Competition: The daily stock is high compared to its competitors, so the company has to raise more capital to invest in the channel. This could affect the long-term growth of Victoria Plc.
- Product Marketing: Although the product is successful in terms of sales, its positioning and unique selling proposition are not clearly defined, making it vulnerable to attack from competitors in this sector.
Opportunities for Victoria Plc
Opportunities are potential areas for companies to focus on to improve results, increase sales, and ultimately profit.
- New Environmental Policy: New opportunities will create a level playing field for everyone in the industry. This is a great opportunity for Victoria Plc, Inc. to realize the benefits of new technologies and gain market share in new product categories.
- New Taxation Policy: New tax policies can have a significant impact on the way Victoria Plc does business and open up new opportunities for them to increase its profitability.
- Open New Markets Through Government Agreements: New technology standards and government free trade agreements provided to Victoria Plc opens up opportunities for Victoria Plc to enter newly developed markets.
- New Customers Through Online Channels: The company has invested huge amounts of money in its online platform over the past few years. This investment opened up a new sales channel for Victoria Plc. Over the next few years, companies will be able to seize this opportunity by better understanding their customers and meeting their needs through big data analytics.
- Economic Recovery: Economic recovery and rising consumer spending after years of recession and slow industrial growth are opportunities for Victoria Plc to attract new customers and increase market share.
Threats to Victoria Plc
Threats are environmental factors that can harm a company’s development. Here are some of Victoria Plc’s threats:
- Teсhnоlоgiсаl Develорments by Comрetitоrs: New teсhnоlоgiсаl develорments by а few соmрetitоrs within the industry роse а threаt tо Victoria Plc аs customer attracted to this new teсhnоlоgy саn be lоst tо соmрetitоrs, deсreаsing Victoria Plc оverаll mаrket shаre.
- Suррliers Bargaining Power: The bargaining роwer оf suppliers has increased over the yeаrs with the deсreаse in the number of suppliers. This mеаns thаt the costs of inputs could increase fоr Victoria Plc.
- New Entrants: There have been numerous рlаyers thаt have entered the market аnd аre gaining market share by gaining existing соmраnies’ mаrkеt share. This is а threаt tо Victoria Plc аs it can lose its customers to these new entrаnts.
- Quantitative Increases in Commodities: This could jeopardize Victoria Plc’s profitability. A shortage of skilled labour in certain global markets threatens Victoria Plc’s continued earnings growth in the market.
- Operates Globally: Because the company operates in many countries, it is exposed to currency fluctuations, especially given the unstable political environment in many markets around the world. This may face some challenges in the market and may result in some losses as well.
This ends our elaborative SWOT analysis of Victoria Plc. Let us conclude our learning below.
Victoria Plc is doing well with its services and has a lot of outlets. It has a strong financial position and cost structure. The company needs to work on its R&D and invest more funds in this direction to yield long-term results. It has multiple competitors so it needs to make relevant decisions to have a competitive advantage.
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