Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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“We're pleased to announce the launch of our new website, helping our customers better understand what we do and how we do it 🎉
Discover our latest offerings across commerce technology, marketing and fulfillment, and learn how we help brands overcome stagnating growth and barriers to scale 📈”
https://www.thgingenuity.com/?utm_source=linkedin&utm_medium=organic-social&utm_campaign=Agnostic&utm_content=Website
New CEO of ingenuity is Richard Ward.
https://www.thgingenuity.com/discover-ingenuity/meet-the-team
Seems decent to me. Professional and some good content
Please don't tell me that is another rebranding of sorts Yorek and just as things were marginally picking up.
I found it interesting in yesterdays Boohoo update that they have moved to a Debenhams Marketplace model with consumer brands selling through their website on a commission based model. A bit like Amazon marketplace and B+Q (Diy.com) marketplace.
"We continue to take actions to deliver on our goal of bringing the entire group back to profitable growth. In FY24, we completed our investment cycle with the launch of our US distribution centre and the successful delivery of our Sheffield Automation project. Sheffield is already delivering significant efficiency improvements, which, together with the traction of Debenhams marketplace, is generating margin improvement across the group. We have also taken steps to transition several of our labels over onto Debenhams marketplace to drive enhanced profitability. This proved effective during the year and is something that will drive additional profitability going forward. These factors, combined with improving market conditions, give us strong confidence in our medium-term outlook."
So we / THG pivot away from a marketplace type model and go whale hunting instead about 2 years ago - landing a big whopping ZERO to date - and everybody else seems to be pivoting the other way to their own "marketplace" selling and picking up decent business and probably some of which we actually gave them.
Might account for why we never seem to see any published strategy anywhere.
The word Pivot seemingly equalling present strategy not working and a time to change track.
The cynic in me says we must be about to see a pivot @ THG Nutrition what with a 9% fall in revenue. Lucy Gorman btw had it working and growing nicely. So who chose to rebrand? Who chose to invest in the MyProtein Kitchen? Who chose to move it into bricks and mortar retail at a substantially reduced margin? Who chose to sponsor the constantly last Williams F1 Racing Team?
Hardwell, from your comments do you have some insight on THG Nutrition that we can only guess at?
Nice profile fit. Good addition in my opinion.
Well MM’s fate rests in the hands of Crane/Ward double act to get Ingenuity scaling. Ward looks like he has an enterprise sales background, which in my opinion is the right profile for Ingenuity CEO at this stage of its development. I don’t buy into the general MM hate, but he is in last chance saloon on Ingenuity and justifying his own hype around that business. Still believe the market opportunity is huge with better execution, but the clock has to be ticking for MM if the whales don’t start landing this year
Debenhams market place has been on since 2021, they use software by mirkle or something. Debenhams simply went online, are you saying that THG should have stuck with smaller customers? As comparing what THG ingen did would be more accurate to compare it to Mirkle than bohoo, bohoo could have used ingen for same purpose I suppose or am I missing the detail here.
You think nutrition may pivot again? I say pivot, but I refer to they have changed course focusing on rebrand and general health not just gym people.
Agree with you on last post yesimabeliever
Can someone please remind me how much of the gross 'profits' have been ploughed into Ingenuity?
They did the wrong thing imvho pivoting away from smaller customers whilst having no whales in the bag, or even near being in the bag. All that custom will have gone elsewhere. As a result GMV dips and without replacement as we have seen for 2 years. The strategy on Ingenuity hasn't worked and hence they now changed the rhetoric to trying to gain more from existing clientele instead with only marginal increase.
In terms of actual strategy it has actually been 2 pivots @ THG Ingenuity and a replaced CEO. Many platforms are offering "marketplace" options now where you can buy other smaller supplier products through that companies website and it subsidises and enhances their own online offering and the cost of it. You can add Next and many others to the growing list. That sadly is the reality of the competition out there at the moment.
Nutritions large revenue dip if continued says they will look to "pivot it" or replace the CEO (or wheoever has been making the decisions.
Its all a bit of a mish mash atm and a bit of a jack of all trades and master of none presently and with some thinking they might follow in the footsteps and emulate Bezos, or is it Starbucks, or is the Gymshark founder, or is it LVMH.
Buts its not been working for 2 years and the share price is about 1/3 of the value of the Belerion / King Street bid and imvho about 1/4 of the Apollo bid. Both of which abruptly ended and without price publication.
So, so much not being done here which could instantly add shareholder value and which isn't.
Great summary OSG, very well thought out just shows when you watch things closely you get the view as what is actually happening.
Almost all companies that received bids over past 12-18 months their SP have risen to at least what the bid was.
Except THG, where everyone now must realize that the £1.70 bid (if it was that high, because the SP on that day went up to £1.50 ) was actually very good offer and I very much doubt we will see the SP near that amount in next three years.
Did they say that about nutrition on the call, I don't remember it elsewhere?
Don't think anyone can argue that they havnt done things that would have brought value / SP up that prob wouldn't have taken a lot.
A lot has changed in the last two years, I think people forget the outside forces and just how much they had an impact, I believe it was always going to bridge over to this year, however I think this year especially h2 if cuts happen and leading into h1 25 will properly establish if things will be a success or failure.