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Essity B 285 (-1.7 SEK) on 04-Apr-2020 17:29

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Essity’s offerings simplify everyday life for millions of people worldwide. All of this begins and ends with innovation. By maintaining close proximity to our customers and consumers, understanding their needs and transforming this knowledge into products, Essity makes a difference in people’s everyday lives.

Essity’s innovation process is deeply embedded in the Group’s strategy and business model. Innovation activities are based on market trends, customer and consumer insight, new technology and new business models. Essity also takes sustainability aspects and product safety into consideration throughout the process. Essity’s presence in both mature and emerging markets provides a good understanding of trends and needs.

All of Essitys innovation work starts with an insight about a customer or consumer need. This insight will guide the innovation work on how to improve existing products, satisfy new needs and build our brands. With leading brands such as TENA, Tork, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa, improved product performance is essential for ensuring attractive offerings and strong brands.

Innovation drives growth and profi tability and is one of the company’s three strategic priorities.

Innovation creates value for our business by increasing customer and consumer satisfaction and cutting costs. One of the aspects the innovation teams take into account is to improve effi - ciency, for example in how we use raw materials and optimize transportation. This means both lower environmental impact and lower costs. Innovation is also paramount in our marketing in order to fi nd new ways to market our offering.

Innovation work is supported by Essity’s innovation teams across the globe and a well-developed innovation culture. Essitys strategy is to increase the pace of innovation, capitalize on global economies of scale and ensure that all segments have a competitive and balanced portfolio of innovations. Particular focus is given to exploring the possibility of broadening the product portfolio and expanding the range of services.

Every day, numerous employees are involved in innovation at the company. Their work requires insight, inspiration, creativity, systematic development and risk taking – and a lot of hard work and discipline.

To further harness our employees’ creativity and good ideas, Essity has created an internal innovation platform. It can be used during all stages of a project to ask for help with solutions and find people with the right expertise. Essity also encourages open innovation – meaning cooperation with external parties. Open innovation is an important part of the innovation process and offers a number of benefits, such as providing input from adjacent industries, speeding up development processes and cutting costs.

In 2015, Essity introduced approximately 30 innovations and product launches and applied for 54 patents.