WEBVTT 1 00:00:00.001 --> 00:00:04.418 (intriguing techno electronic music) 2 00:00:07.309 --> 00:00:10.050 It is clearly important that a company needs to grow. 3 00:00:10.050 --> 00:00:14.220 And I think there is that tension with company's growing 4 00:00:14.220 --> 00:00:18.300 and balancing how you execute on the brand. 5 00:00:18.300 --> 00:00:20.040 A healthy tension is good, 6 00:00:20.040 --> 00:00:22.740 but I think that being focused on delivering 7 00:00:22.740 --> 00:00:25.320 a great experience to our customers 8 00:00:25.320 --> 00:00:27.240 is of the utmost importance. 9 00:00:27.240 --> 00:00:28.680 In regards to resilience, 10 00:00:28.680 --> 00:00:30.540 we clearly went through a lot 11 00:00:30.540 --> 00:00:32.190 over the last five years or so. 12 00:00:32.190 --> 00:00:35.100 If you've got a good team that you're united with, 13 00:00:35.100 --> 00:00:37.020 that you collaborate with, 14 00:00:37.020 --> 00:00:39.150 and that can really be honest with each other, 15 00:00:39.150 --> 00:00:41.430 you'll generally come through things together. 16 00:00:41.430 --> 00:00:43.770 The resilience of the Pret team, 17 00:00:43.770 --> 00:00:46.950 from my perspective, has been absolutely phenomenal. 18 00:00:46.950 --> 00:00:48.840 We wouldn't be in the position that we are today 19 00:00:48.840 --> 00:00:49.673 without them, 20 00:00:49.673 --> 00:00:51.930 and I think they are very excited now 21 00:00:51.930 --> 00:00:53.700 with the next phase of growth for our brand. 22 00:00:53.700 --> 00:00:55.470 We are pivoting now 23 00:00:55.470 --> 00:00:59.460 to be more of a franchise-first organization. 24 00:00:59.460 --> 00:01:04.460 So, that stage of our growth is a real big bet. 25 00:01:05.340 --> 00:01:06.510 As it stands today, 26 00:01:06.510 --> 00:01:10.080 35% of our sellers now offer our franchise partners. 27 00:01:10.080 --> 00:01:12.570 In 2019, that was 4%. 28 00:01:12.570 --> 00:01:14.430 So pivoting to be, what I would call, 29 00:01:14.430 --> 00:01:15.750 more of a brand service 30 00:01:15.750 --> 00:01:19.290 and how we ensure that the brand 31 00:01:19.290 --> 00:01:21.280 shows up to our franchise partners, 32 00:01:21.280 --> 00:01:23.700 that, in essence, are our customers, 33 00:01:23.700 --> 00:01:24.870 is a big pivot. 34 00:01:24.870 --> 00:01:25.980 And I think, as you look 35 00:01:25.980 --> 00:01:28.380 at brands becoming more international, 36 00:01:28.380 --> 00:01:30.420 it is a natural progression. 37 00:01:30.420 --> 00:01:32.250 And I think the second big piece for us 38 00:01:32.250 --> 00:01:35.490 is how we ensure that we continue our digital journey, 39 00:01:35.490 --> 00:01:37.890 continue that connection with our customers, 40 00:01:37.890 --> 00:01:41.040 and the desire of our customers around the world 41 00:01:41.040 --> 00:01:45.240 is very different from a physical and digital presence. 42 00:01:45.240 --> 00:01:46.920 But, I think, for me, first and foremost, 43 00:01:46.920 --> 00:01:49.800 the most important thing is that we are continuing 44 00:01:49.800 --> 00:01:52.340 to give a great experience 45 00:01:52.340 --> 00:01:55.140 and great value for our customers. 46 00:01:55.140 --> 00:01:57.750 We've stayed very close to understanding 47 00:01:57.750 --> 00:02:01.740 how AI is impacting our sector. 48 00:02:01.740 --> 00:02:03.390 We're already starting to use AI 49 00:02:03.390 --> 00:02:06.510 for things such as marketing, recruitment, 50 00:02:06.510 --> 00:02:11.510 and how we analyze different candidate applications. 51 00:02:11.550 --> 00:02:12.900 We're also looking at opening 52 00:02:12.900 --> 00:02:15.540 our first drive-through in 2025, 53 00:02:15.540 --> 00:02:17.340 and looking at different technologies 54 00:02:17.340 --> 00:02:18.960 to enable that customer experience, 55 00:02:18.960 --> 00:02:19.980 and there are lots of companies 56 00:02:19.980 --> 00:02:22.380 that are now using AI for that. 57 00:02:22.380 --> 00:02:25.920 I would say the sector hasn't been fully disrupted 58 00:02:25.920 --> 00:02:29.250 from an AI perspective, as other industries may have done. 59 00:02:29.250 --> 00:02:31.140 From my own personal perspective, 60 00:02:31.140 --> 00:02:34.740 I think AI will see some big lifts within the world, 61 00:02:34.740 --> 00:02:38.760 and I think it will become ever clearer 62 00:02:38.760 --> 00:02:41.823 as that technology matures. 63 00:02:42.688 --> 00:02:45.855 (lively techno music)