Beiersdorf names three winners of Innovation Pitch scheme

Beiersdorf has announced that it will be partnering with three companies through its inaugural Innovation Pitch scheme.

Announced at the annual in-cosmetics conference, the winners of the competition were selected as Ashland, Croda International and KPT, having convinced the judges to give them the chance to market their original ideas under the umbrella of Beiersdorf brands such as Nivea and Eucerin.

Innovation Pitch was launched as part of a wider strategy of further increasing Beiersdorf's innovative power by integrating external knowledge into its research and development. It received a total of 66 online entries for the contest.

Key criteria of the pitch were uniqueness, feasibility, consumer benefit, alignment with Beiersdorf brands and market potential.

Dr Ulrich Schmidt, member of the executive board at Beiersdorf, said: "We are happy to call this Innovation Pitch a great success. The overall quality and potential of the submitted ideas exceeded our expectations."

Last month, the company announced its financial results for 2013, during which it experienced year-on-year organic sales growth of 7.2 percent.