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(cheerful mellow music)

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<v ->Pano, so good to be here at your beautiful London office.</v>

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<v ->Well, it's a pleasure to have you here.</v>

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<v ->Pret has had a fantastic year so far.</v>

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Can you tell us a little bit about your growth strategy?

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<v ->We took the stance to take our brand global,</v>

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and I think we have seen huge progress.

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If you look at the brand four to five years ago,

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we were a single-channel brand.

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I think if you look at Pret today,

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it's an omnichannel brand,

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and it's grown at real pace across the world.

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Actually, 2023 was the first year we opened more stores

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outside of the UK than inside of the UK.

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<v ->In a difficult macroeconomic environment,</v>

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how you balance innovation and resilience together?

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<v ->It's clearly a challenging macro-environment at the moment</v>

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and I think that will still continue into next year.

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What we'll need to stay laser-focused on is how we give

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great value to our customers.

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And great value for me is not just the right price point,

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it's a great environment within a Pret store.

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It's how our teams connect with our customers

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to give them great service.

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<v ->During COVID, you took a very bold move</v>

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to launch like a loyalty program

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that has been very successful.

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<v ->As you mentioned, in 2020, we launched</v>

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a subscription scheme,

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and we have evolved the subscription scheme

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over the last four to five years or so.

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We now have about 40% of our customers

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transacting with us through the schemes.

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And that gives us an opportunity

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to understand their behaviour,

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connect with them in different ways,

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and really tailor our overall proposition to their needs.

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So we had BCG, I think, for a year we worked together.

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The marketing muscle between us,

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behind the subscription business,

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is so different to traditional marketing.

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And I think what BCG did for us is really come on board

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and really help to leapfrog

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our capabilities within marketing.

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And I think that where we are today, we've shortcut it

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five years, I think, by having BCG

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in for that year to help us, whether it feeds

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to up-skill our people, helps suggest key capabilities

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we needed to bring in, and really ensure

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that we are laser-focused on

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the overall customer experience.

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<v ->Can you tell us more about how you leverage data today</v>

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and how you're putting that into motion?

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<v ->We are leveraging data more and more.</v>

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As an example, when we launched our loyalty scheme,

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we started to understand not just customer behaviors,

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but where they are living.

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So we are starting to target those areas to open more Prets.

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And that would've been data

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we just wouldn't have had beforehand.

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I think another area getting to understand

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how customers are purchasing

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and key ingredients

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or product categories that they enjoy,

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and saying actually due to that data

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that we're harnessing, this is how we are going

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to innovate when it comes to new products.

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And I think the third thing is really understanding

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different customer cohort behaviours

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and starting to tailor our approach

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to how we communicate with customers

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based on their different preferences.

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(bright stirring music)