Like people, companies win some and lose some.
On the plus side, the German multinational enjoyed double-digit sales growth in North America, Latin America and Asia.
La Prairie was the hardest hit as the Covid-19 pandemic hammered the travel retail sector. The luxury skincare brand’s sales slumped 23.9 per cent during 2020. But its recent launch on Alibaba’s Tmall has strengthened the brand’s presence in China and Beiersdorf expects the downward trajectory to level off this year.
Nivea’s revenues dipped 6 per cent over the period. Yet the brand’s strong overall position globally and gaining market share in more than 50 per cent of the countries it operates in softened the pandemic impact.
Looking forward, Beiersdorf will invest 60 million euros (AUD$92.28 million) in a technology centre near its Hamburg HQ over the next three years. Key projects will include the use of more natural ingredients, developing formulas to target the skin’s microbiome, sustainable packaging and materials and research on new actives.
Beiersdorf also announced the launch of O.W.N last week, a personalised skincare brand focused on cleansing, day and night skincare. An acronym of Only When Needed, the brand will roll out first in Europe later this year.
Consumers will be offered a scientifically-evaluated questionnaire and AI built around a proprietary algorithm selects the best ingredients for individual needs from 380,000 formula combinations.
Beiersdorf has announced the launch of O.W.N, a personalised skincare brand.