Simon-Kucher hits the 300 million dollar mark
The growth course continues – digitalisation was the key driver of growth. For 2018, the management consultancy has plans for further international expansion with new offices opening in Chicago, Shanghai, Mexico City, and Cairo.
The global strategy and marketing consultancy Simon-Kucher & Partners had a successful year in 2017. Revenue grew five percent year-over-year to 300 million US dollars, reaching this important threshold for the first time in the company’s 30-year history. Growth amounted to seven percent, adjusted for currency effects.
The practices that contributed most to 2017’s positive result were Software/Internet/Media, Financial Services (Banking and Insurance), and Consumer Goods/Retail – digitalisation was instrumental in all of these areas. “These sectors are particularly involved in digital transformation. Many companies are seeking answers to the coming disruption. Our consulting services are in extremely high demand in this arena,” CEO Dr. Georg Tacke explains.
Business in the Asia-Pacific and Latin American regions saw particularly strong growth in 2017. “Compared to the United States and Europe, the consulting market in these regions is still relatively small, but we are expecting to see substantial growth this year.” Within the core region of Europe, the Nordics and the United Kingdom contributed in particular to the firm’s successful business performance. “We haven’t seen any negative effects from the Brexit decision whatsoever,” Tacke adds.
Simon-Kucher’s international expansion is set to continue throughout 2018 with new locations in Chicago, Shanghai, and Mexico City soon to be added to the map. The opening of an office in Cairo will also provide Simon-Kucher with a permanent presence in the African market.
Tacke is positive about the year ahead: “For 2018, we expect strong growth. Order volume is up by over 20 percent from this time last year.” This is reflected in the high revenue targets that have been set: 350 million dollars is the figure the consultancy is aiming to hit in 2018. Tacke expects that the most important growth driver will continue to be digitalisation: “Until now, companies have approached digitalisation primarily in terms of technology, IT, and technical feasibility. In the future, businesses will have to focus more on delivering customer value and monetizing innovative digital products.
Simon-Kucher also intends to increase its manpower significantly in 2018, as it is planning to welcome 300 new staff members worldwide, including 110 in Germany. Currently, Simon-Kucher has over 1,100 employees.
Simon-Kucher & Partners, strategy & marketing consultants: Our focus is on TopLine Power®. Founded in 1985, Simon-Kucher & Partners has more than 30 years of experience providing strategy and marketing consulting and is regarded as the world’s leading pricing advisor. The firm has over 1,100 employees in 34 offices worldwide.