Beiersdorf-owned Nivea has announced plans to establish an innovation hub for the next gen of K-beauty entrepreneurs.
The hub will be sponsored by Nivea in partnership with WeWork and grant selected start-ups access to Beiersdorf’s global market reach and leading expertise in the skin care industry. The selection process for the first cohort will commence in the first quarter of 2019 and the hub will be based at the WeWork co-working space in Seoul’s Hongdae district.
“Many companies build accelerators in their home country. 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,” said Ralph Gusko, Beiersdorf Board Member for Brands, Research & Development, and the Asia Pacific Region.
“At Beiersdorf, we believe in partnership. Our foundation and global success is based on close collaboration with partners in the skin care market,” added Endrik Hasemann, General Manager Beiersdorf Korea. “Today, we want to help Korean entrepreneurs build their ideas and open the doors to the global market.”