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Strategic Priorities

• Nurturing memorable, relevant, and purposeful brands

• Strengthening the core, creating new vectors of
  growth, and entering attractive adjacencies

Capitals Impacted

Risks

• Competitive market conditions
• New entrants into the market

Enablers

• Design thinking-led approach
• Integrated RIDE (Research & Development + Innovation + Design + Expertise) structure
• Investments in research & development
• In-house design lab
• Dedicated central Innovation team

Key Focus Areas

• A two-pronged approach to innovation: democratisation and creating new vectors of growth
• Leveraging our cross-functional RIDE (Research & Development + Innovation + Design + Expertise) structure
• Investments in design, technology, and skills
• Building global partnerships
• Fostering a culture of innovation

Value created

Our focus and investments in innovation and research & development have translated into the creation of significant Intellectual Capital.

Accelerating our innovation pipeline is critical to our success. Innovation rates in India and Indonesia are 50 per cent higher than those in the last year. The number of new products launched annually in the last 2 years has doubled. This translates into stronger Financial Capital metrics.

 

Innovation is our lifeblood as a company, and we are very focused on driving innovation-led growth across our different categories. As category leaders, we believe that we must keep innovating and finding new ways to grow our categories. Especially in emerging markets, we are focused on democratising categories and making superior-quality, delightfully designed products available at affordable prices. We are also pursuing attractive adjacencies and creating new vectors of growth to broaden our portfolio.

We are using the design thinking tools of empathy, rapid prototyping, and visualisation to reimagine our brands and create new ones. To support this, we are also accelerating our innovation pipeline, ramping up capabilities, investing significantly in research & development, and cross-pollinating learning and products across geographies.

The number of new products launched annually in the last two years has doubled. The new products launched in the last five years account for over 20 per cent of the India business. Innovation rates in our India and Indonesia businesses are 30 per cent and 50 per cent higher, respectively, than the last year. Air care, a category that we launched in India in 2012, has globally evolved into the fourth core category for us. We are now leaders in air fresheners in India and Indonesia.

 

We have an integrated platform, RIDE (Research & Development + Innovation + Design + Expertise), to combine efforts of key functions involved in new product development. This platform streamlines and expedites innovation delivery, as well as ensures agile execution. Our central innovation team leads new product development in global categories across India, Indonesia, Africa, and the USA. They also offer design thinking strategic input for brand architecture, enable cross-pollination and sharing of product ideas and processes, and constantly evaluate patents and new technologies in the consumer goods space globally.

 

 

We have set up a state-of-the-art global research & development (R&D) centre at our headquarters in Mumbai, supported by local R&D centres in our different geographies. Similar to this, we have global, local, and category-specific R&D teams who partner across geographies and share learnings.

We have built an in-house global design lab to integrate design thinking and transform product capabilities. The lab consists of highly skilled graphic and industrial designers from across geographies who collaborate on projects.