How to give a business transformation and systematically develop Covestro’s brand to support the company’s way up into the DAX?
Introducing Germany’s 2nd largest chemical company. Achieving heights of success with Globeone business transformation techniques
When Bayer spun off its plastics business in October 2015, a new chemical giant emerged with 16,000 employees and a turnover of € 12 billion. This marked the birth of Covestro, formerly known as Bayer MaterialScience. Newly gained independence brought communicative freedom, but also posed the challenge of low awareness for an entirely new brand. Globeone supported Covestro in the business transformation of the brand with strategic and operational guidance to develop and establish a firm positioning as an innovative and sustainable new brand. It was an exciting ride, ultimately leading all the way up into Germany’s DAX 30 index: a textbook example of a successful spin-off.
Targeted positioning with a fresh identity was possible a great business transformation step.
Globeone supported Covestro in the development of a communication strategy centered on keeping the merits of a rich heritage while building a fresh new identity. We developed key messages that highlighted Covestro’s values, skills and contribution to future challenges. These messages were used across all relevant regions and channels to sharpen the brand’s profile in an industry where differentiation is difficult. To establish Covestro as forerunner in sustainability-driven innovation, we also developed a communications strategy to reach a targeted positioning within the most important target industries.
Business transformation raised brand profile within most important markets.
Today, Covestro is an established brand standing out from the competitive crowd. By the end of 2017, its stock price had more than tripled, aided by a bold communication strategy telling the company’s own unique and exciting story. The brand is steadily sharpening its profile in key industries, with bold communication initiatives yielding raised awareness and positive image.