U-Power Group is a European leader in the field of accident prevention for safety footwear, and has only recently begun operating in the technical workwear sector with high-growth rates.
The Group is projected towards re-invention and continuous development, while also remaining faithful to its vision and mission values.
In conducting its activities, U-Power Group seeks to pursue a shared sense of benefit, operating in a responsible, sustainable and transparent way towards people, the territory, the environment and other stakeholders, with the aim of generating measurable social value and creating the conditions for maintaining satisfactory and sustainable economic results over time.
THE FOUNDATION OF THE GROUP IN 2006
REVENUES BY COUNTRY
KEY ELEMENTS:
The key elements of the Group’s success are:
01
Complementary brand portfolio featuring a wide variety of products that meet the highest safety requirements;
02
Portfolio of products with the best technical and quality features, as well as comfort, combined with Made-in-Italy design;
03
Strong Brand awareness supported by effective communication strategies;
04
Excellent R&D that ensures flexibility and rapid response through the launch of new models capable of addressing market needs;
05
Cutting-edge production and logistics of excellence combined with a wide geographical coverage thanks to a widespread distribution commercial network.
To reconfirm and strengthen business growth, the Group pursues three-prong strategic approach:
- Consolidation of the leadership position in the key safety footwear markets
The Group intends to continue its growth strategy by further consolidating its position in the safety footwear market in countries where it occupies an important position, and namely:
- Leadership in Italy and France, where it boasts a market share of 36% and 24%, respectively;
- In Spain, where it is the fourth player, with a market share of 8%.
- Further expansion into European markets offering high-growth opportunities
The Group seeks to further expand the U-Power brand into the safety footwear sector in Europe, by leveraging a well-proven business model and the results achieved both in Italy and abroad.
In particular, significant growth in Germany - which is the leading European market with a share of about 22% in terms of value - and the UK market is the Group's primary objective.
- Expansion into complementary sectors
U-Power Group aims to diversify its portfolio into business niches that complement the safety footwear market (gloves, glasses and helmets), replicating the success achieved with its technical clothing line which, though launched only recently, is achieving significant results, representing 8% of the Group’s revenues in 2020.
- Strategic levers
The Group intends to continue its growth and strengthen its positioning by means of:
- continuous product innovation that allows increasing the market share and margins in higher added-value segments;
- further growth of the commercial presence in key markets (Italy and France), and expansion in Germany and the UK, based on the creation of a network of small- and medium-size local distributors;
- increase in Brand awareness through marketing initiatives;
- use of the up-selling potential of technical clothing towards all the Group’s customers.
U-Power Group intends to pursue its growth strategy in an organic way. while remaining flexible in evaluating, by means of a strict financial discipline, any investment opportunities or targeted strategic acquisitions at the right conditions, in order to accelerate the process of growth and internationalisation, by leveraging on a solid financial structure combined with high capacity to generate cash.
SOLID LONG-TERM DRIVERS IN THE PPE MARKET
PPE (personal protective equipment) includes 7 categories: safety footwear, workwear, hand and eye protection, fall protection, over-the-neck area, respiratory protection and gas detection.
Below are the long-terms drivers.
Strict workplace regulations have forced manufacturers to invest in materials-focused innovation offering comfort, high levels of safety and brand awareness by improving market growth;
Security awareness:Increasing end-user awareness of safety and compliance with regularity requirements, with footwear considered PPE essential, leads to increasing demand for mid-range and premium footwear;
Attractiveness of the product:The consumer’s preference to move towards aesthetically appealing products in addition to comfort and safety (lightness, non-slip, stain, antibacterial, etc.);
Targeting young people in the world of work:The attractiveness of the product is likely to become important as younger generations join the workforce to replace the ageing population;
One-Stop Shopping:End users increasingly expect distributors’ product portfolios to include not only PPE, but other industrial consumables as well.
