At a time when new regulation has been put into place and some have questioned whether it will stifle creativity, the Germany-based manufacturer has been encouraging the opposite with its Pearlfinder initiative and Open Innovation Pitch, encouraging partners and suppliers to share their best practice.
“As with the last few years, the industry is very active ingredient driven right now,” says Clausen. “At the in-cosmetics event we see a lot of new launches and this is very good for a finished goods player.”
The Nivea skin care maker used the 3-day Hamburg event to launch its Open Innovation Pitch, which is part of the continuing Pearlfinder initiative.
This opens up the chance for companies to pitch their innovative ideas to Beiersdorf with the chance of developing and working on these in the future, with the goal of inspiring innovation.
Out of 66 online entries, 23 were chosen to pitch during the show, and three winners emerged: Ashland, Croda and KPT.
“Innovation is a key factor for our company’s success,” adds Clausen. “The overall quality and potential of the submitted ideas exceeded our expectations.”