Minor International shifted asset-light and paid down the travel shock
After a Baht 13.2B loss in 2021, Minor used travel recovery, asset-light growth, and deleveraging to earn Baht 7.8B in 2024.
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2,000 PUBLISHED CASES · REGULARLY UPDATEDMicrosoft revived Flight Simulator by turning Bing Maps into the product
Microsoft brought back Flight Simulator after years away by making Azure and Bing Maps the reason to play.
Read the caseMicrosoft folded generative AI into its cloud and productivity stack
Microsoft embedded Copilot across work software; FY2024 revenue rose 16% and cloud revenue reached $137.4B.
Read the caseMercari restarted disciplined growth and delivered its first full-year profit
Mercari paused investment during COVID, then restarted marketing and product work as user behavior proved resilient.
Read the caseMars handed the company to Grant Reid and scaled beyond candy into pet care
The Mars family kept ownership but promoted insider Grant Reid in 2015; by 2022 sales topped $47B and pet care had become central.
Read the caseMarks & Spencer reshaped stores and supply chains into its best health since 1997
M&S's 2022 Reshaping for Growth plan lifted 2023/24 profit before tax and restored dividends.
Read the caseMa'aden listed half its shares to fund Saudi mining scale
Saudi Arabia floated 50% of Ma'aden in 2008, raising SR9.25B and turning a state miner into an industrial platform.
Read the caseLumileds emerged leaner and put an automotive LED veteran in charge
Lumileds cut about $1.4B of funded debt in 2022 and shifted leadership toward automotive LED growth.
Read the caseLumi turned Seera's car-rental arm into a listed Saudi mobility platform
Seera demerged Lumi and listed 30% in 2023; the unit then locked in a SAR471M Aramco fleet contract.
Read the caseL'Oreal turned store closures into a Beauty Tech acceleration
L'Oreal's 2020 e-commerce surge cushioned lockdowns; 2021 sales hit EUR32.28B with record EUR6.16B operating profit.
Read the caseLegendary revived Dune by refusing to compress the novel into one film
Legendary backed Denis Villeneuve's two-part Dune plan and turned a hard-to-film novel into a $410M franchise restart.
Read the caseLarian revived Baldur's Gate by treating D&D as a systemic RPG
Larian turned a 20-year-old PC RPG name into 2023's breakout game and a $90M licensing win for Hasbro.
Read the caseLaCroix made an old seltzer brand a millennial status can
National Beverage leaned into color, flavor and social sharing; LaCroix sales nearly tripled to $175M by 2015.
Read the caseKeyence let its founder step back while the operating machine kept compounding
Takemitsu Takizaki stepped down as Keyence chairman in 2015; the sensor maker kept its asset-light, high-margin model intact.
Read the caseJohnson Controls sold HVAC to Bosch and became a pure-play buildings company
After Elliott pressure, Johnson Controls sold residential HVAC for $8.1B and reset leadership around commercial buildings.
Read the caseJG Summit made Lance Gokongwei CEO and professionalized the group
The founder's son took the top job, then pushed authority to professional SBU CEOs and digital growth platforms.
Read the caseJardine put Ben Keswick in charge and kept its Asian compounder intact
In 2012 Jardine Matheson handed managing-director power to Ben Keswick, extending family stewardship across Greater China and Southeast Asia.
Read the caseJagermeister turned a sleepy herbal liqueur into a US bar staple
Sidney Frank used bar-level promotion to take Jagermeister from 600 cases a month to more than 2M cases a year.
Read the caseIntuitive Surgical protected hospitals in 2020 and da Vinci demand snapped back
Intuitive cut customer friction during COVID; in 2021 revenue rose 31% and da Vinci placements rose 44%.
Read the caseInstacart scaled the 2020 grocery shock into a $30.3B marketplace
COVID demand could have broken Instacart; it scaled operations and turned emergency grocery delivery into a durable platform.
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