The teams will anticipate upcoming trends, identify new business models and services and develop product concepts to capture additional growth opportunities to continuously expand the businesses. Key priorities are speed and agility, according to the company.
The Fritz Beauty Lab—whose name is inspired by Henkel’s founder Fritz Henkel—aims to identify attractive niches with a growth potential for existing brands or spots to create completely new brands. Meanwhile, LoveNature GmbH is Henkel Laundry & Home Care’s new sustainability idea factory, developing new business innovation. It will particularly focus on sustainable solutions starting in the field of laundry and homecare products, but also embrace new technologies and business models.
According to the company, establishing the new Laundry & Home Care idea factory and Beauty Care incubator team is fully in line with Henkel’s strategic framework to focus on impactful innovations, supported by increased investments, as a main competitive edge. Henkel aims to step up its growth investments in advertising, digital and IT by 350 million euros compared to the year 2018, it contends.