Beiersdorf has announced a further annual investment of €80 million into its consumer arm in a bid to see off a predicated drop in sales growth.
The news follows new CEO Stefan De Loecker’s January announcement that it will make a commitment to deliver sustainable growth through strategic steps, which followed slow Q4 2018 sales.
He stated, “Our entire business model needs timely adaptation due to new market realities and fast-changing technology developments. This requires, first and foremost, higher investments.”
With a predicted investment of €70 million to €80 million starting this year, the German personal care company has predicted growth of between 3-5 percent this year.