Beiersdorf’s Nivea brand has established an innovation hub in South Korea, which will act as an accelerator programme for beauty startups in the country.
The company will commence the selection process by which startups will be selected at the start of 2019.
Embracing The Future
“Many companies build accelerators in their home country,” commented Ralph Gusko, Beiersdorf Board Member for Brands, Research & Development, and the Asia Pacific region. “We want to be where the future of skin care begins. We are embracing the Korean ecosystem because it is a frontrunner in beauty and digital technologies.”
At the innovation hub, Beiersdorf will offer a dedicated team for startup collaboration and acceleration, which will encompass marketing, sales, digital, supply chain and research and development functions.
“At Beiersdorf, we believe in partnership. Our foundation and global success is based on close collaboration with partners in the skin care market,” said Endrik Hasemann, general manager of Beiersdorf Korea. “Today, we want to help Korean entrepreneurs build their ideas and open the doors to the global market.”
Beiersdorf teamed up with WeWork to develop the innovation hub, which will be located within the WeWork co-working space in Seoul’s vibrant Hongdae district, a prime location for beauty and fashion trends.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine