Redefining the possible with Markem-Imaje.

Markem-Imaje solutions ensure brand and product safety and regulatory compliance across multiple countries, continents and local stores.

Their technologies are used in broad industry sectors to seamlessly track and trace CPG and luxury goods and their components, such as serialisations, ingredients, origins, and more producer and manufacturer information.

The challenge

Markem-Imaje has delivered extraordinary success in the last decade of 2007 to 2017, silently making it the world leader in CPG tech. Even though these successes were deeply rooted in integrative hardware and product coding solutions, the company was constantly attacked by new global and local competition, especially from the Tech and Consulting sectors.

The solution

Marcus Podorf’s interim-led team at VORN Strategy Consulting repositioned Markem-Imaje as the systemic integrator for the IoT-/Industry-4.0 driven consumer packaged goods industry, offering new, specific advisory services beyond demanded high-end coding solutions and intelligence.

As a result, the brand and its communications also experienced an upgrade from market average to an appeal worthy of the world leader in CPG tech. Markem-Imaje has constantly delivered above market standards – and will also lead the trust market in the future.

The new claim ‘Intelligence, beyond the Mark.’ was established by Markem-Imaje to reflect on its leadership for the following decades.

Markem-Imaje – Intelligence, beyond the Mark.

Overall impact

Between 2020 and 2023, Markem-Imaje demonstrated significant growth compared to its 2019 performance. The company experienced substantial revenue increases driven by strategic product innovations, expanded geographical reach, and a dual approach combining organic development and targeted acquisitions.

Its all-time peak revenue was $750.0m in 2023, a growth of ±$50.0m compared to 2018 and the continuous changes seeded.

By leveraging its in-house technological advancements and expanding its product offerings, particularly in areas like anti-counterfeiting and industrial marking, the company capitalised on emerging market opportunities and maintained strong relationships with global clients such as Nestlé and Unilever.

Value contribution

Since 2019, Markem-Imaje has focused on innovation, launching new product lines and improving sustainability practices to maintain its competitive edge. Its contribution to the overall growth of Dover Corporation’s portfolio highlights its importance in the industrial coding and marking space:

Gross income and profit

Gross income: Markem-Imaje’s revenues peaked at approximately ±$750m in 2023, demonstrating steady growth since 2019. The growth has been driven by increased demand for coding and marking technologies, particularly in industries like food, pharmaceuticals, and electronics.
Profit metrics: Although specific profit margins are not publicly disclosed, its parent company, Dover Corporation, saw an increase in profits during this period, supported by strong performance in Markem-Imaje’s segment. Dover’s strategic focus on innovation and operational efficiency likely benefited Markem-Imaje’s profitability.

Market shares

Global presence: Markem-Imaje remains the leading provider in the global coding and marking market, competing with companies like Videojet (Danaher), Domino (Brother Industries), and Hitachi. Its market share is bolstered by technological innovations and its robust customer base of over 50,000.
Regional trends: The company is well-established in North America and Europe, with notable growth in the Asia-Pacific region, which has been driven by rising demand for product traceability and regulatory compliance in packaging and labeling. Key markets include China, India, and Japan.

Key changes since 2018

These trends underscore a progression in market dynamics and internal strategy that boosted Markem-Imaje’s positioning and financial performance in the years following 2018:

Revenue growth: In 2018, the company’s revenue was around ±$700m, ±7.2 % lower than the ±$750m observed in 2023. The increase is attributed to greater adoption of coding and marking technologies, particularly driven by regulatory compliance in sectors like food safety and pharmaceuticals.
Technological advancements: Post-2018, Markem-Imaje invested in innovation, launching new products such as advanced inkjet printers and Internet of Things (IoT)-enabled solutions. This has enhanced operational efficiency and attracted new customers.
Market expansion: While the company already had a strong presence in Europe and North America in 2018, its growth in the Asia-Pacific region accelerated due to increasing demand for traceability solutions in developing economies like China and India.
Sustainability initiatives: From 2019 onward, Markem-Imaje emphasized eco-friendly inks and sustainability, aligning with global trends and enhancing its market competitiveness.
Economic context: In 2018, the global market was relatively stable, but growth was slower compared to the surge in demand experienced post-2019, particularly in the wake of increased e-commerce activities and stricter regulatory requirements during the pandemic era.

Responsibilities

Senior Advisory Services

Customer interviews & segmentation
Analysis and review of newly generated (Big) Data
Customer insight generation
Market review and competitive audit
Define heritage and extended competitive set
Near and mid future market demands
Company and service analysis, defining future requirements
Strategic positioning opportunity (refinement)
Brand repositioning strategy & execution outlook
Brand transformation and transition strategies (implementation outlook)
Productisation – New product and services design
Salesfunnel planning
Naming and portfolio structure
Corporate change and communication strategy, incl. creative messaging/value proposition design

Scope of work

Delivered in 2018/19
6 to 8 months project TAT
Consultancy: VORN Strategy Consulting

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