LG Household & Healthcare pips L’Oréal, Unilever and AmorePacific to be named ‘most innovative’

LG Household & Healthcare pips L’Oréal, Unilever and AmorePacific to be named ‘most innovative’

Thompson Reuters IP & Science has named LG Household & Healthcare the most innovative global company in 2015 in the cosmetics and beauty category; the first time that a traditional cosmetics company has been trumped by a technology-based company in its annual State of Innovation report.

The K-beauty giant pipped L’Oréal to the post by a single invention (315 versus 314), with Japanese Kao following behind at #3 with 214 inventions to its name. Henkel came in fourth with 154, and Procter & Gamble squeezed under the barrier into the top five with 144 patents. LG-rival AmorePacific was awarded sixth place with 125, followed by Aesthetic Beijing Technology (87) Unilever (75), Beiersdorf (73) and Kose (70).

“The instant worldwide exposure of new products and technology has bought major new players into the market, particularly from the innovative Asian beauty sector,” explained Peta Leggatt, DWPI Content Specialist-Pharmaceuticals at Thompson Reuters. “Maybe the emergence of companies less traditionally known for cosmetics and personal care shouldn’t be any surprise, as modern high-performance beauty products incorporate cutting-edge pigment formulations, reflective microparticles and polymers for an Insta-perfect finish.”

In terms of sector, skin care continued to dominate, with patents up 12 percent on 2014. All other sectors registered a drop in innovation, with make-up – the second-largest – down 2 percent, hair decreasing 4 percent, fragrance diving 15 percent and anti-perspirant dropping 4 percent.

 

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