Why I believe pen maker Bic is a technology company

Many traditional companies looking to make a splash like to pitch themselves as tech companies: Restaurant chain Sweetgreen once said it operates more like a tech company than a food distributor. The New York Stock Exchange has also described itself as a tech company, and even Fortune Media has been known to whisper that it's a tech company that does journalism.

Given the massive market support of bona fide tech companies like Microsoft and NVIDIA, it's only natural that non-tech companies would want to hype their tech credentials. But can a company that makes good old-fashioned products like ballpoint pens, lighters, and razors claim to be a tech company?

[GonzalveBicwhosegrandfatherMarcelBicfoundedBicin1945acknowledgesthatwhileBicmaynotfitthetraditionaldefinitionofatechnologycompanyitembodiesthespiritofinnovationoftenfoundamongtechgiantsHesaysBic'sapproachtotechnologymaynotinvolvedevelopersorprogrammersbutitdoesinvolvetherelentlesspursuitofmoresustainablematerialsfordisposablerazorsandinnovativewaystoextendthelifeoflightersTobefairBic'sportfolioalsoincludestechproductssuchasasmartcloud-connectedreusablenotebookmadebyRocketbookacompanyitacquiredin2020[1945年に祖父のマルセル・ビック氏がBicを創業したゴンザルベ・ビック氏は、Bicは従来のテクノロジー企業の定義には当てはまらないかもしれないが、テクノロジー大手によく見られるイノベーションの精神を体現していると認めている。ビックのテクノロジーへのアプローチには開発者やプログラマーは関わっていないかもしれないが、使い捨てカミソリ用のより持続可能な素材の絶え間ない追求や、ライターの寿命を延ばす革新的な方法には関わっていると同氏は言う。公平を期すために言えば、ビックのポートフォリオには、2020年に同社が買収した企業、ロケットブックが製造したクラウド接続型のスマートで再利用可能なノートブックなどのテクノロジー製品も含まれている。

“We have a very rich tradition and we respect our past, but we also talk about reinventing the future, whether that's innovation or technology innovation,” said Bich, who became CEO in 2018.

Traded on the Euronext stock exchange in Paris, Bick has been looking to grow by expanding into the tattoo industry. On his LinkedIn page, Bick describes himself as a tattoo artist, and when he spoke to Fortune he had a wave tattoo on his arm. In a perhaps more subtle show of innovation, the company also plans to more than double the color options of its markers. Net sales rose 9 percent (at constant currency) to 2.26 billion euros ($2.5 billion at current rates) last year.

“When you say technology company, if you mean a company that's looking to the future, that's the definition I apply,” Bich said.

This interview has been edited and condensed for clarity.

Fortune: Your PR department promotes Bic as a high-tech company. How can a maker of pens and shaving sticks be called a high-tech company?

When you say tech company, you mean a company that is looking to the future, keeping up with the times, and maybe even a little bit ahead of the curve. I think that definition fits us. We respect our rich traditions and invent the future. That's why we've invested in things like Rocketbook, tattoo companies, and tech innovations.

You sell pens in an age where people communicate through text and other digital means. Why would you expect anything from a writing instrument?

The debate about the importance of handwriting ended a while ago. Experts around the world agree that while we can't resist the technology that is creeping into our lives, the creativity and fine motor skills that writing develops during childhood are essential for brain development. And while we sell in about 160 countries, not all of them have the same technology as us. When you look at our growth, a lot of it is from developing markets, where people's purchasing power is still growing.

You describe yourself as a tattoo artist and spoke about Bics' tattoo business on the earnings call — could this be more than a niche market?

Tattoos have become commonplace over the last 30 years. We offer temporary tattoos that last a little over 2 weeks. Most people walk into a tattoo shop and see a wall of options. They Google it. They think, “I still haven't found the right tattoo for me.” That's where temporary tattoos come in. We offer a different level of permanence. This is not a passing fad.

BIC mentions sustainability in its annual report, but how do you reconcile the concept of sustainability with the production and sale of disposable razors?

If you look at the published life cycle analysis of system shavers with replaceable heads and our premium disposable shavers, you can see that the biggest impact is at the end of the product's life: water consumption during shaving (if the razor works well, you shave less, so you consume less). The environmental impact of handle disposal is much higher than for our disposables. In terms of packaging, recycling rates have increased from 20% to 80% in the last year. For our women's products, 40% of handles are recycled and will continue to increase.

So how far along is your facial hair cycle? I have lots of facial hair.

Looking at 150 years of grooming history, there have been ups and downs. Remote work has given us the age of facial hair, while the practice of shaving body hair has exploded in the last 20 years.

A number of razor brands have emerged in the past decade, including Harrys and Dollar Shave Club. What sets Bics apart?

We are #1 or #2 in disposable razors depending on the market. We constantly launch exciting new products and improvements. We were the first to make women's razor handles more ergonomic so that women can shave in six different positions.

Let's talk about lighters: Tobacco use is in steep decline in the West, but is cannabis use helping to compensate for that?

We've seen some good momentum, but not the phenomenal growth rate that some expected. We do market research and ask people what they use flame for. Yes, people smoke, but they also light candles. In the U.S., using a lighter for a candle is the same as using it for smoking. In developing markets, there are other uses, such as boiling water for drinking and for hygiene. Four years ago, as part of a strategic reorientation, we rebranded the division from Lighters to “Flame for Life” to reflect the different uses. We also partnered with Snoop Dogg and Martha Stewart on marketing.

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