Fy 13 15-rolling_strategy[1]

Table of Contents

Introduction
Data and beliefs that inform our strategy
Progress report on last year’s strategy
Evolution from last year
Our FY13-17 corporate strategy
o Reinvigorate growth in our core
o Lay foundations for future growth 2
o Commit to a multi-year resource ramp
o Take the long view on earnings (J-curve)
Focus—or what we will not do
Operationalizing our strategy
o Strategy pyramid
o Organizational structure
o Resource allocation
o Corporate dashboard

Vistaprint CONFIDENTIAL © FY2012

01
Introduction

The following document articulates our rolling five year strategy for FY13 - FY17. With a year of
implementation behind us since our major course change, this plan benefits from some significant
evolution and improved specificity. That being said, you will see that our FY13-17 corporate strategy is
very consistent with the direction we set in the FY12-16 version. The net impact of the improvements
and the consistency is that we believe our corporate strategy is the most compelling one to date—and
we are very excited about what we are going to create together in the next five years.

As we said last year, this roadmap is a “living” strategy, evolving and adapting every year in function of
2
the changes around us and the perspective gained from each year of progress. While our broad strategic
direction is intended to last for multiple years, we will continue to pursue an annual cadence of revisiting
and refining our five year rolling strategy, allowing for changes every year, and larger course corrections
when required. We will also maintain the practice of communicating the revised version of our strategy
to the organization annually.

Please note that as of the writing of this document the final budgets had not been set for FY13, and we
have not yet finalized our five year model. As such, the financial numbers presented here should be seen
as directional, not precise.

ON 2

02

Reinvigorating growth was the central theme in examined “how we do things around here”,
last year’s five year strategy and it remains the deepened our understanding of how some of our
central theme in this updated strategy. This is business approaches that had become liabilities,
because we believe that continuing our history of and set in place plans to address these issues:
growth will provide the greatest value to our
customers, career opportunities for our employees
and long-term payoff for our investors. hypothesis that during the FY03-FY10
timeframe we had built a culture characterized
Reinvigorating our growth will not be easy. by a total lack of customer centricity. Clearly
Success requires breaking from prior trend lines of we delivered strong value to customers – if 3
slowing growth: from FY09 to FY11 the annual we had not, we could not have grown as we
revenue increase we achieved each year had did. But our culture and our resulting business
stalled and our growth rate expressed in practices led us to develop value propositions
percentage terms was falling rapidly. Last year’s and marketing activities that reduced product
strategy was based on our recognition of multiple quality, limited customer service and
reasons for our slowing growth in recent years and deprioritized user experience in favor of
these impediments to growth remain valid from short-term transaction value, with little to no
our current vantage point twelve months later: validation of value as viewed from the
perspective of the customer, retention, or long
term LTV and ROI.
through the 2000s was running out of fuel.
That model had been driven by vertical
integration, free offers, rapid-fire new product were too decentralized. Without tops down,
introductions, geographic expansion decisive and deliberate choices we would not
throughout Europe and to Australia and New be capable of making the large, concentrated
Zealand. As effective as these strategies were strategic bets that are necessary to evolve of
in the past, they would not allow for our business model and company culture. We
continued rapid growth. must “invest to win” in a limited number of
large scale bets to reach our vision, our
aspirations for customer centricity, our revenue
entrants and niche players, as well as evolving objectives, and our long term shareholder
ecommerce standards mean we are no longer value creation plans. Investing to win means
delivering jaw dropping customer value. making decisive choices to concentrate enough
talent, operational resources and financial
investment on our chosen areas of focus, by
year’s plan stated that “we need to organize saying no to other opportunities and by
ourselves effectively to manage the growing aligning the entire organization behind the
complexity of Vistaprint. And we need to chosen priorities.
change our culture so that the customer is at
the center of everything we do. This will be a
hard, long and uncomfortable process, but not appropriately weighted among three
one we can avoid if we are serious about categories: reinvigorating growth in the core,
achieving our goals.” laying foundations for future growth beyond
the core, and long-term research and
As we worked throughout FY12 to implement and development.
update our rolling five-year strategy, we seriously


02

Over the past year we have also articulated our choices last year were directionally correct. This is
deeply held beliefs about our sources of why the FY13-17 rolling strategy has a very high
competitive advantage as a means to be more degree of continuity from the previous version,
explicit about the choices we are making and why. structured around the same four key themes as
We have committed to reinforcing the following last year:
core competencies, also referred to as our three
pillars of competitive advantage:

World class engineering and capabilities
development: Investing heavily to “refurbish” 4
our first pillar – the technology focus that
drove our breakthrough business from its
earliest days – by investing in architecture,
recruitment, career development, intentional
innovation, improved decision making,
scalability and efficiency.

Marketing: Expanding beyond our traditional
strength in Internet-based promotionally-driven
marketing to add other strengths: deep
understanding of markets and customers,
go-to-market methods, value-added customer
service, product marketing, off-line channel
advertising, multi-year LTV payback analysis
and brand.

Manufacturing and supply chain
management: Making major improvements to
quality, delivery reliability, scalability,
throughput time and the ability to produce
products of quality and variety that few, if any,
competitors can replicate while simultaneously
extending our low-cost leadership position.

Customer and competitive research over the past
twelve months has validated our market
opportunity. We have deepened our conviction
that Vistaprint’s business model is a disruptive and
powerful one that holds the potential for major
and multi-decade market share increases and value
creation. But because markets move over time, in
order to attain that potential, we must invest in
constantly improving our performance and our
capabilities.

A year into the strategy, we believe that our


03
Progress Report on last year’s strategy

Last year’s strategy constituted a major course we can turn around our growth trajectory.
change on our long-term journey. It was analogous
to a sailing ship that changes tack, bringing its behind target. Both will miss FY12 objectives,
bow through the wind to change course but still and budget revenue expectations for FY13 are
en route to the original ultimate destination. We 11% and 7% below the five year plan for
have started on a bold new direction that we
believe is best suited to create a transformational As a total company, the above combines to
and enduring business institution for the benefit of a revenue shortfall for FY12 that is expected
our customers, our employees and our investors. to be about $31 million, or 3% below budget.
The recently completed budget for FY13 5
How have we done overall, twelve months after shows this shortfall worsening to $65 million,
having set out in our new direction? It depends on or 5.3% below our strategic plan. In terms of
the area of the strategy we look at. We have
made great progress toward a more customer on track to grow only $181 million in FY12,
centric culture. We have ramped up investments in versus a plan of $212 million, and believe we
product substrate quality, service level will grow by only $188 million in FY13, versus
improvement, user interface design, LTV the original objective of $233 million.
advertising, and manufacturing. We have ramped
our Capabilities resources and laid FY13 plans to
continue to do so. And we have greatly refined
our foundations for future growth, with the
investments in and plans for Albumprinter, Webs
and GEM.

But all is not perfect – and we have many
challenges ahead. While confident in our choices,
we have proven out none of our major
investments areas: V2C, M3P, LTV, multi-year
ramp of resources, Webs, Albumprinter or GEM.

functionally-defined organizational structure that is
designed to support the strategy, but this entails
significant disruption to our management routines
and practices. Most worrisome, we have had
mixed results relative to the five-year financial

re-igniting our growth. Rectifying where we are
falling short in revenue is critical to our ability to
continue to invest in other parts of our strategy. A
summary of where we stand with revenue is as
follows:

FY13 budget anticipates that North America
will stay on track to last year’s five year plan.
This is great news and a clear indication that


03
Progress Report on last year’s strategy

On the gross margin line, the story is different: If in future years we do not accelerate revenue at
Europe is outperforming its five year target, NA is a rate closer to our strategic plan, this will
continue to reduce our ability to invest in key
company-wide level, gross margin is slightly better aspects of our strategy. This is especially true
than plan for FY12 but current budgets for FY13 because the strategy is premised on margin
indicate that it will be 100 basis points lower than
plan. We need to work on the combination of FY14 we need to start a three year leverage march
back to the profit levels we were achieving prior
to make sustained future improvements in our
gross margin even as we invest heavily in 6
improved substrates, packaging and shipping
methods.

We are still achieving our bottom line objectives in
FY12 because we are growing operating expense
and LTV advertising slower than planned. But as
we budgeted for FY13, anticipated revenue and
gross profit shortfall required us to make cuts to
other components of our strategy. In fact, the
combined impact of lower revenues and lower
gross margins in our budget means we expect to
have $33 million less in gross profit in FY13 than
we would have had if we met our original 5-year
revenue and GM objectives. We set the FY13
budget with the objective of balancing the multiple
demands of our strategy with the need to also
make up for most of this loss in gross profit.

Albumprinter, GEM and the impact of share

expected in the original plan, but in many
areas of the business this has required
squeezing of costs.

each of Webs, Albumprinter and GEM which

foundations for future growth beyond our
core.

dilution from M&A, our FY13 budget seeks to

objectives.


04

In light of the experience, successes and
challenges of the past year, we are now adjusting the acquisition of Albumprinter to target
the sails on the strategy ship which turned so Sentimentalist H&F consumers in EU
decisively one year ago, tweaking our course
heading while working to build momentum. To use future growth. We see Core Plus customers in
another analogy, we are mid-stream in a difficult the core business and an upscale home and
crossing, the going is not easy nor is it exactly as family positioning under the Albelli brand
we planned, but we are not about to change
horses. If we fail to gain momentum on our new Up-market, and remove the more general
course, if we don’t make continued progress Up-market adjacency. We do not anticipate 7
across the river, then we will need to change pursuing a premium small business brand
strategy. But for now, our focus is on making
tactical adjustments, to battening down the
hatches, and to continuing forward. Over the past for near-term physical product growth as
year, we have achieved greater strategic focus and 1
clarity by being more precise about initiatives, and China. Financially, we are “doubling down”
interactions, and timing within these key themes, on our investment in GEM because we believe
and by fleshing out our foundations for future it has the potential to become our single
growth. The most important changes from last largest revenue and profit growth area in the
year are: FY17-22 timeframe.

Business and Consumer in our core business

approach:
o Australia and NZ will follow the same
global strategies as our Vistaprint-branded
business in NA and EU.
o Based on encouraging uplift from the

we believe there may be a significant

require stepping back for a full scale
strategic review of that market in FY13.
o Closed down our nascent efforts in
Taiwan and Korea, and transferred
Singapore to GEM.

of our foundations for future growth, into
three separate digital elements, appearing

Webs / Freemium Digital

1
but with no material revenues or costs associated with this effort.

04

non-cash accounting charges related to
M&A and tax accounting, but their
magnitude is a strong indication of
o Reduced our FY13 revenue budget by commitment to building up these
approximately $70 million, to $1.19 foundations for future growth beyond our
billion2, which would be growth of just core.
19% over FY12 -- below our previously
anticipated 22% growth.
o Planned for deterioration in gross 8
margin, versus anticipated improvement,
due to the cost of V2C improvements,
higher costs, lower volume, less
favorable mix.
o Squeezed growth in advertising and
operating expense in most areas of the
business to achieve the same absolute
profit as originally targeted, which
requires an expansion of our net margin
from 5.2% to 5.5%.

reinvigorate growth closer to our plans,
we are making contingency plans to drive
stronger margin leverage if these
improvements do not materialize.
o Balance sheet and share buybacks

absence of any share repurchases or
M&A, our cash could grow to almost
$300 million by now. In fact, due to the
acquisition of Webs and Albumprinter,
and significant share repurchases, we
are now in a net debt position. Our
financial strength allows this leverage,
and we believe these are investments
that will drive significant shareholder
value over the long term.
o Dilution from acquisitions & GEM

as follows:

participation in Namex

2
target.

05
Our FY13-17 corporate strategy in summary

Reinvigorate growth in our core
be conducting a strategic analysis of how to
We will continue to invest to win in our core
through V2C, M3P and LTV.
Our acquisition of Webs provides the vehicle
to be a leader in the Freemium Digital space.
We will empower Webs to function as a
our customers to earn their lifetime loyalty, stand-alone brand and autonomous operating
and encompasses our efforts to Raise the unit to learn about the digital market and
Baseline, the Winning in Small Business and grow freemium aggressively. We will 9
Major Player in Consumer global segment encourage this part of our digital business to
strategies, and our Customer Commitments develop additional free offers, and, in
particular, to pursue Pagemodo Facebook
offers and to develop other products that can
grow through rapid viral expansion. At the
same time, we will also provide Vistaprint
KIFG, pursued through partnership between support and expertise to improve customer
MSC and the plants, remains committed to acquisition, upsell to premium paid digital
achieving step function changes in quality, products, and cross-sell to print products.
throughput time, on-time delivery, and unit
cost. Our aim is to move from best-in-class Our acquisition of Albumprinter will be
manufacturing in the print industry to truly similarly pivotal in driving the development of
world class manufacturing across industries. a future growth foundation. In addition to

KIFG will expand beyond its initial focus with building the Albelli brand via a premium
positioning in the consumer space, targeting
with > 12 month CMV payoff but positive Sentimentalist H&F consumers. In FY13
NPV based on estimated customer lifetime Albumprinter will pursue geographic expansion
to the UK and to Nordic countries. As with
how we manage our total marketing spend, Webs, we will pursue an autonomous
optimizing ROI across channels, measuring the operating unit approach to maintain market /
impact of non-direct channels on our existing customer focus, and nimbleness, and to create
base vs. new customer acquisition, a center of excellence in high-quality photo
understanding brand halo, etc. Given the products.
results available through Q3 FY12 which
confirmed that extending the payback horizon
for marketing spend makes financial and
economic sense, CMOs will now manage
LTV—and the tradeoffs between LTV and
non-LTV spend—within their total external
marketing portfolio.

Lay foundations for future growth

We will lay foundations for future growth in Webs


05

In GEM, we will take an 80/20 approach to
the market opportunity, limiting our focus to
Asia, and, within Asia, concentrating first and
foremost on India and China, with a small
effort in the Singapore market. In later years
we plan to expand to Southeast Asia, Taiwan,
and Korea. We expect to push off a move
into Brazil and the southern cone of Latin
America for at least three years, possibly
longer, barring future changes at the corporate 10
strategy level, or unforeseen success levels
that “self-fund” such expansion. In these
emerging markets, we expect to operate one
or more business models that will be different
from the business model used in our more
developed markets. One example is the Free

products to build a customer franchise that we
can eventually monetize through print
cross-sell, digital upgrades, or alternative

we anticipate deploying a traditional online

partnership models in many markets. We
believe that locally relevant user experiences,
content, and partnerships will be critical, and
that, given transportation logistics and tariff
regimes, in country manufacturing will typically
be required.

apan - Finally, in FY13, we will take a step
back, and undertake a significant strategy

and path forward, and how this fits with our
future growth plans.


05

management, Finance and Legal. Each of
Invest in a multi-year resource ramp these functions is growing, but not as much as
originally anticipated in last year’s five year
strategy.
pressures we are encountering due to revenue
shortfalls in FY13, we believe that increasing
our capacity for technology delivery is critical
to achieving our long term growth ambitions, To fund this strategy we decided to forgo earnings
and as such are continuing with the planned in the near term in favor of much higher earnings
multi-year ramp of our capabilities teams and 11
budgets. we invested approximately $40M in sacrificed
earnings compared to a “business as usual”
continuation of past practices. We expect this to
re-architecture process to bring our technology rise to over $50 million of reinvested earnings in
back toward state of the art, and to increase FY13.
future Capabilities productivity and business

and necessary investment because the choices
we made in terms of how to develop and Webs, share buybacks, or the recent decision

have created an accumulation of “technical
debt” that that is beginning to have serious
impacts on our business and threatens to
constrain future choices. that we need to begin “making the turn” –
expanding our margins in each of FY14 to
FY17. This will require improvements to gross
and gross margin shortfalls in the FY13 budget margins, marketing spend efficiency, and
have meant that we have needed to leverage of our operating costs across the
significantly constrain resource ramps in other company.
areas of the business such as HR and talent

Historical Last Year’s Five Year Plan :
FY 2010 FY 2011 FY2012 FY 2013 FY 2014 FY 2015 FY 2016
Net Income $68 $82 $59 $65 $111 $168 $237
(M)
Net margin 10.1% 10.0% 5.7% 5.2% 7.3% 9.3% 11.2%
GAAP EPS $1.49 $1.83 $1.34 $1.43 $2.40 $3.58 $4.98

Current Outlook
FY2012 FY 2013
(estimate) (budget)
Net Income $58 $65
(M)
Net margin 5.8% 5.5%
GAAP EPS $1.34 $1.43


05

o Capital expenditure increases that will
buybacks and investment in GEM is relatively approach $100 million in FY13, our
complicated. The buybacks have been strongly all-time high.
accretive, even after accounting for the cost of
debt incurred. The acquisitions are strongly o We are growing our technology budgets
dilutive, reducing our GAAP income by almost to over 13% of revenue in FY13, up 200
50% in FY12 and with a still strongly negative
impact in FY13 and FY14. In GEM, the cost of 2011. This is an incremental investment of
the Namex and India investments, plus the approximately $25 million.
buildup of the Singapore team, are also 12
significantly dilutive.

$20 million tax, and on-going operating
writing of this memo, but broadly speaking losses for the next several years.

price.

million in operating losses over the

equity in Namex in FY13, and the option
in FY17 to purchase another 35% which
will be valued based upon the size and
profitability of Namex at that time.

o Approximately $350 million to
repurchase about 25% of our company in
FY1213.

The following bullet points provide some specific
numbers to put into perspective the enormous
financial resources we are deploying to our
strategy:

core:
o Investments in V2C of literally tens of
millions of dollars annually for substrate
and packaging improvements, customer
research, increased DSS availability.
o Increase to our advertising budget by
approximately 3% of revenues in FY12-13
for LTV investments: well over $60 million
of incremental investment.


06
Focus—or what we will not do

Focus is about saying no. In general, our FY13-17 the H&F value proposition will mainly draft
strategy is much more deliberate and explicit behind the improvements being driven by
about the sequencing of the various elements of investments in core customers e.g., to improve
the strategy. We made hard choices about what the site experience, to create a customer
we will not do in order to ensure sufficient centric culture, etc. Note that we will be
resources will be applied to the areas where we doing limited projects for high value areas in
seek to make step function changes.

than we would in a world of greater resource
significant reduction in our profits for FY12-14 availability. 13
relative to what we could have achieved under
the financial target setting approach we used
from FY06-11. Traditionally, we have operated immediately, foregoing significant synergy value
with the reality of organizational constraints
net income margin will be less than 5%. This and, importantly, the value of keeping
Albumprinter as an autonomous operating unit
that is charged with pursuing a distinct
as we begin to ramp on the upside of the business model.

be lower and our revenues higher than they
otherwise would have been, allowing us to “Lexus” brand in the small business space in
continue to invest approximately $50M the next four years. We still believe this is an
annually in incremental investment versus interesting opportunity, but it is a lower
“business as usual” as pursued from FY05-FY11. priority than the confirmed aspects of our
In saying no to short term profit maximization, strategy.
we are acting much more like a high-growth,
pre-IPO company or a private equity-backed
South America, Russia, Middle East or Africa
we believe this will allow for major value for multiple years, so we can focus on Asia.
creation over a multi-year period. Within Asia, FY13-14 we will concentrate on
India and China, with modest efforts in
Singapore. We will hold off on entering new
region for our core business. NA, EU and GEM markets with physical products,
AU/NZ will all operate under the same overall leveraging instead the FFD approach to build a
strategic approach and priorities, changing the customer base in the interim period.
emphasis to go-to-market approaches and
tactics.

value propositions in FY13-14 except to the concentrate as much funding as possible to
extent that they happen to overlap with our the expansion of our technology teams.
top priorities for Core customers.

improvements to our home and family offering
under the Vistaprint brand. As with Core Plus,


07

Operationalizing our strategy too tied to our old approach of highly
We have made important decisions in the last year decentralized execution and out of step with our
in a number of areas outside our corporate corporate strategic direction. The effort was led by
strategy, but directly related to its an “Action Learning” team composed of 7 Vice
operationalization, that are worth mentioning here: Presidents from around the organization who
followed a Talent, Communication and

high challenge business project with a deliberate,
accelerated development environment. Based on
consultations with more than 100 colleagues 14
around the organization, the GET, and approval by
Strategy pyramid Robert and the GET, the project resulted in several
changes to our strategy pyramid, which we believe
The strategy pyramid has been in place for offer a stronger context for our corporate strategy:
multiple years. This structure is not a unique way
of viewing or communicating global strategy. Many
companies have used similar frameworks Enduring Values. Our Vision has not changed:
successfully in the past and will no doubt continue We empower millions of people worldwide to
to do so in the future. After all, it’s a simple and make a living, make a difference, make a
very visual way of aligning a long-term vision to a connection. The new Enduring Values replace
set of medium-term tactics and specific short-term our Guiding Principles, and move higher in the
tasks and programs. pyramid because they are intended to have
greater longevity. These two elements of the
Specifically, our pyramid is intended to convey the pyramid set the tone and the direction for
following important messages: everything that follows. The purpose of these
statements is to rally our employees around
our aspirations of the kind of company we will
Our vision and values remain relatively
“timeless” intended to forge a common view of where
we’re going and, in doing so, to inspire pride,
view so that changes to strategy reflect a ambition and passion.
process of evolution, not revolution
Audacious Goal. While the name has changed
level of the pyramid support the level above, slightly to make it simpler and more unique to
and guide the level below Vistarprint, our goal has not changed: 30M
loyal customers by 2020. This medium term
plans and individual goals: We continually objective bridges between the long-lived
review, test, evaluate and reorient our near nature of the Vision and Enduring Values, and
term plans the Rolling 5-Year Strategic Plan.

performance: Ultimately, the success of any populates the Rolling 5-Year Strategic Plan.
strategy depends on those who implement This middle layer organizes, integrates and
and deliver it. choses what we will do to achieve our
Audacious Goal.
In FY12, we took another look at our Guiding
Principles, which we had felt for some time were


07

Resource allocation
Year Priorities and Initiatives, and Individual
In order to focus, and to invest to win, we are
modest edits to the language to reflect our shifting from our prior bottom up IBP allocation
and prioritization process to one which is
updated annually. predominantly top down. The GET will review and
allocate resources across a portfolio of functionally
Organizational structure defined investment pools, driven by priorities

15
optimally support our corporate strategy. As
already extensively communicated, our new For example, in the product marketing arena, the
organizational structure will be: Global Marketing team will receive the lion’s share
of development resources so as to be able to
make strong progress toward global solutions.
Manufacturing, Capabilities, HR, Finance and These solutions have been and will continue to be
Legal deployed across NA and EU developed with meaningful input from the
geographically focused teams, but, in the end, will
be a single global roadmap. In the vast majority of
cases NA, EU and AU/NZ will follow, not lead.
New Zealand will follow the same core Within regions, the marketing leadership teams will
strategies as NA and EU. decide which specific marketing projects to fund
within the constraints of their regional investment
We believe this construct will enable greater pools.
integration and coherence in how we formulate
and operationalize our strategy. For example, we A similar top down approach will be used for
will have increased ability to identify key strategy manufacturing resource allocation. The Global
questions “centrally” and deploy resources to Manufacturing roadmap will guide and constrain
our IBP decisions, driving Vistaprint-wide step
better positioned to rationalize investments across function improvements while taking into account
regions in function of global strategy—which will at plant-specific conditions and needs. Of course,
times mean forgoing evaluation and pursuit of
local strategies beyond go-to-market approach. In
the GET Operating Committee, we will have the functional direction cannot mean siloed or
mechanism to manage, pressure test and ensure uncoordinated efforts.
consistency in the way we execute our strategy.
Finally, this structure will allow us to stay nimble, Importantly, we need to raise our success rates
especially in targeted growth areas that require through more stringent prioritization of IBP
significant modifications of our business model in projects, decisive resource investment behind those
order to succeed. Specifically for Webs, bets we chose to make, better execution, and
Alumbprinter, and GEM, we need to find ways to greater accountability for results for project
allow these foundations to diverge from the sponsors and business owners. We will need to
“mother ship” so as to innovate and move quickly, become better at determining the true value of IBP
while planning and clarifying longer term projects so we can achieve the optimal return on
integration strategies. our constrained Capabilities resource pool.


07

And we must continually recognize that this return 4. Lay foundations for future growth and
is a function of IBP portfolio quality and achieve the objectives required to create value
Capabilities capacity and cost—and, as such, a through our acquisitions
company-wide, executive-level responsibility. 5. Drive higher return on Capabilities through
better solutions and delivery effectiveness
Corporate dashboard 6. Create a capable and engaged set of
leaders
Acknowledging the importance of measuring 7. Deliver on multi-year financial goals
progress against our long term strategy, we have
developed and are implementing this year a These metrics will be quarterly, trailing twelve 16
corporate dashboard for this purpose. This tool is month or annual measures, and for most we will
intended to provide a medium term strategic view,

developed in and used by other parts of the The primary audience for the corporate dashboard
will be the GET, though the regional leadership
objectives of the corporate dashboard are: teams and senior leadership of various functions
will also be actively involved in using this new
management tool. Secondary audiences will be the
providing a clear, shared and actionable view Supervisory Board and Vistaprint overall—once we
of the strategy are confident this is a useful measurement tool,
we intend to share it transparently across the
to measure success of our strategy, and create organization. Beginning in Q1 FY13, the GET will
accountability review and discuss the corporate dashboard results
quarterly. Each year as we complete the update of
internally about progress against our strategy the corporate strategy, we will likewise adjust the
corporate dashboard to ensure it is in alignment.

In designing the corporate dashboard, we explored

Vistaprint-specific approach closely aligned with the
ways we have structured and communicated our
corporate strategy. As such, the corporate
dashboard is classified into seven areas, with more
granular metrics under each of these:

1. Create value for customers to earn their
lifetime loyalty
2. Achieve a step function improvement in our
manufacturing capabilities
3. Embrace digital and the integration of
physical-digital offerings as critical to sustaining
our core and creating the next wave of
growth


Fy 13 15-rolling_strategy[1]

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