Klépierre SA 2022

Abstract

In the beginning of 2022, the shopping mall operator Klépierre, displayed the progress of its corporate social responsibility strategy taken since 2018. The results were extremely encouraging with most of the targets already reached almost a year before the final deadline. To maintain its place of pan-European leader of the industry, Klépierre put a strong emphasis on people-centric approaches including partners, customers, and employees and a wide-ranging corporate social responsibility plan. While this strategy had its merits, it was not translated in positive financial results. Klépierre now needed to develop its next sets of goals and those would be critical for the future of the company. As most players in the industry engaged in the same kinds of strategies, by investing in corporate social responsibility, and enhancing customer experience, the time pressure was consequent for Klépierre. Indeed, Klépierre needed to make sure to implement a successful CSR strategy to drive customer experience and get out of the slump created by the covid-19. This meant either investing more in CSR or shifting its purpose to reach financial goals. As the industry faced numerous disruptions with the rise of ecommerce, the impact of covid19 and the increasing competition faced by shopping mall operators, displaying an ethical image was critical but Klépierre also needed to level-up its financial results. What kind of CSR strategy should Klépierre implement to keep its place of leader in non-financial goals while competing on customer experience? Should it try to shift its strategy to operational purposes and leave aside ethical investments which have often long-term values but short-term costs?

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