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Spotlight on Finatech
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Finatech is a new MLL licensee. The company was formed 20 years ago in 1993 at its head-office in Riom, near Clermont-Ferrand, France. It specializes in the development and manufacture of electrical equipment including a range of MICHELIN-branded lights and power accessories. Finatech also has an office in China to manage the direct contact with its factories. In addition to the products covered under their Michelin license, Finatech also produce the following products:
- circuit-breakers
- electric boards
- lighting (e.g. wall lights)
- cable trunking
- heating equipment
- accessories (e.g. cable ties)
It is a premium range which brings innovation and differentiation into the market
Distribution
Finatech supplies its product ranges to consumers through four main channels:
- DIY stores; Leroy Merlin, Castorama, Brico-Dépôt
- Supermarkets; Auchan, Cora, Carrefour
- Specialist retailers; Norauto, Feu Vert, Darty, Boulanger, Jardiland
- Professional retailing; DIY wholesalers, building world, car industry and some others trades
Working with Michelin
Jean-Sebastien Alegre (head of marketing at Finatech) commented, We have been working for around 10 months with Michelin and would say that it has been a really motivating project for everyone at Finatech. Bringing together all forces to develop the product range in such a quick time is quite wonderful. Michelin manages our partnership in a real two-way cooperation with a reciprocal spirit. He went on to say, Moreover, we like a challenge and weve found an exciting one developing a range with such a famous brand as Michelin, and with our company being located near to the home of the Michelin Group, Finatech employees are very sensitive to the Michelin brand. It has been a good thing to work with Michelin, because we are a small company, the Michelin project helped us to shape our organization to bring a level of cohesion between the different teams in France and China.
MICHELIN lights and power accessories zoom
The range of MICHELIN lights and power accessories is made up of two kinds of products:
- Lighting equipment
- Cable reels
They are not products which are already in the market under other brands it is a premium range, which brings innovation and differentiation to the market. For the flashlights, a new, more powerful LED technology was developed, as well as stronger magnets to fix lights to metal surfaces. A USB output was added to the cable reels as well as a light indicator to show when it is plugged in. All of these features deliver added value and differentiating innovations to provide a premium product and enhanced user experience for consumers.
Currently, there are no competitors providing such lighting and cable reel products with a strong brand.
What Does The Future Hold?
Finatech are currently finishing the development of the first MICHELIN power and light range with mass production due to start imminently. The plan is to sell the range throughout Europe in 2014.
Finatech are also beginning to develop a new range of lighting and cables reels featuring new designs and technologies with the longer term aim of expanding the distribution worldwide. They also aspire to produce all products in France by 2016/2017.
Finatech Facts and Figures
30 employees
12m turnover in 2012
Sales in 15 countries
4m of stock
More than 600 product references
8000m² of storage