Jardine Matheson

Jardine Matheson Holdings Limited, a historic name in Asian business since 1832, stands as a diversified group operating in 32 countries. With a workforce of 443,000 employees and revenues reaching $35.78 billion in the most recent fiscal year, Jardines manages a portfolio that includes market-leading brands such as 7-Eleven, IKEA, Mandarin Oriental, and Astra. Its strategy combines strong cash-generating operations with long-term property assets, closely aligning with Asia’s rise as a global economic power.

As Sage & Saga (formerly Yonder Consulting Asia, Interbrand SE Asia), we partnered with Jardines before and during the COVID-19 pandemic as strategic growth consultants, providing customized guidance through rapidly changing challenges. Our role ranged from boardroom advisory to hands-on support, serving as trusted problem-solvers and innovation catalysts at both group and subsidiary levels.

Two main pillars shaped our engagement:

1. Reimagining the Group as “a living, breathing network”: We helped reposition Jardines’ identity, creating a narrative that connected over 400,000 employees as active contributors to a cohesive, dynamic ecosystem. This approach built on Jardine’s Strategic Priorities, resonating both internally and externally at a time when agility and human connection were crucial.

2. Shaping a “dual citizenship” culture: We addressed Jardines’ uniquely federated structure by fostering a sense of shared ownership and belonging across business units, while empowering local autonomy. This dual approach was essential in aligning diverse teams around core values and performance goals.

Deliverables with measurable impact

Our partnership delivered tangible results:

• Business Activation During Crisis: Despite regional disruptions, Jardines recovered to pre-pandemic performance by 2022—achieving a 5% increase in underlying profit and a 14% growth in EPS, along with an 8% increase in dividend payout, demonstrating resilience and operational continuity.

• Driving Innovation in Financial Services: We played a key role in launching Livi, one of Hong Kong’s first virtual banks. Supported by Jardine Matheson, Livi gained over 100,000 customers within its first year by providing streamlined, digital-first banking experiences. This digital initiative also enabled 24-hour SME account approvals and loans, directly addressing urgent business needs during the pandemic.

• Energizing Subsidiaries & Teams: Through high-engagement partnerships with Jardines Cycle & Carriage, Jardines International Motors, and Innovate Jardines, we drove on-brand transformation and future readiness. This resulted in better execution of group-wide strategies, especially in Southeast Asia, which now accounts for 66% of group profit.

Bridging strategy and operations

For diversified conglomerates like Jardines, the challenge is turning ambitious boardroom strategies into everyday operational realities. Our role was to co-develop value propositions, implement sustainability blueprints, and create customer-focused experiences—bridging the “last mile” of execution. Whether supporting portfolio companies’ management with tailored playbooks or fostering synergy between global and local units, we ensured purpose was not just stated but actively lived throughout the group.

The outcome: Jardines remains not only Business-As-Usual (BAU) but Business-Advancing—ready for long-term growth amid rising competition and increasing complexity in Asia’s rapidly evolving markets.

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