What do you do when your market disappears – diversify or die? Fujifilm, one of the most famous suppliers in the photography field, reinvented itself by returning to the ‘Faithful Design’ philosophy at its heart.
Famously, Kodak had the world of photography at its feet. But its refusal to give up on camera film became its downfall. The rapid transformation to the digital age of cameras pulled the rug from under the company’s feet and it sank into bankruptcy – even though it has reinvented itself as a successful chemical and printing company in recent years.
Rival Fujifilm took a different path – not one determined by the digitisation of the camera sector, although this was obviously an accelerant, but one that found its direction in the company’s philosophy.
“Diversification is in Fujifilm DNA,” says Luana Porfido. European head of corporate communication and ESG management, Fujifilm Europe. “The company was founded in 1934 to manufacture film for photography and the cinema industry, and...