Jurlique's Development Experience: A Successful Innovation Case
Introduction
Innovation and venturing is one of the most essential parts of corporation’s development. In the turbulent business environment of current world, change happens rapidly and frequently. In order to survive or achieve success within this context, it is necessary for companies to keep competitive advantages, which can be realised by correct understanding of own core competitiveness, reasonable foresight of future, and appropriate strategy of continuous innovation.Furthermore, excellent innovation should cover all aspects of a corporation’s business operation. In this report, Jurlique’s development experience is utilised as a successful innovation case to learn its beneficial lessons and implications for application.
Company Overview
Jurlique International Pty Ltd. is an Australian cosmetics manufacturer specialising in biodynamic beauty and skincare products under the brand name Jurlique. Since being funded in 1985 by Dr. Jurgen Klein and his wife Ulrike, Jurlique has spent over 25 years discovering the secret of beauty with advanced technologies and natural ingredients. Nowadays, as a young company, Jurlique has achieved great brand equity in the global market. This great success is mainly due to Jurlique’s innovation which creates powerful core competitiveness. More specifically, three specialties – leading in natural skincare science, developing a unique Bio-intrinsic model, sourcing ingredients from own organic farm – together help Jurlique create the purest and best-performance products to meet customers’ needs of safety, health, and effectiveness.
The company was purchased by Kerry Packer for $25 million in 2002. Then it was resold to JH Partners and Triarc Companies in 2011. The Toko-listed PolaOrbis Holding purchased Julique for $335 million in 2012, February. Orbis expanded the business into 23 countries, particular, Julique achieved profitable outcome in Chinese market which supported by a net sales of 10 billion RMB and an increase of
Innovation and venturing is one of the most essential parts of corporation’s development. In the turbulent business environment of current world, change happens rapidly and frequently. In order to survive or achieve success within this context, it is necessary for companies to keep competitive advantages, which can be realised by correct understanding of own core competitiveness, reasonable foresight of future, and appropriate strategy of continuous innovation.Furthermore, excellent innovation should cover all aspects of a corporation’s business operation. In this report, Jurlique’s development experience is utilised as a successful innovation case to learn its beneficial lessons and implications for application.
Company Overview
Jurlique International Pty Ltd. is an Australian cosmetics manufacturer specialising in biodynamic beauty and skincare products under the brand name Jurlique. Since being funded in 1985 by Dr. Jurgen Klein and his wife Ulrike, Jurlique has spent over 25 years discovering the secret of beauty with advanced technologies and natural ingredients. Nowadays, as a young company, Jurlique has achieved great brand equity in the global market. This great success is mainly due to Jurlique’s innovation which creates powerful core competitiveness. More specifically, three specialties – leading in natural skincare science, developing a unique Bio-intrinsic model, sourcing ingredients from own organic farm – together help Jurlique create the purest and best-performance products to meet customers’ needs of safety, health, and effectiveness.
The company was purchased by Kerry Packer for $25 million in 2002. Then it was resold to JH Partners and Triarc Companies in 2011. The Toko-listed PolaOrbis Holding purchased Julique for $335 million in 2012, February. Orbis expanded the business into 23 countries, particular, Julique achieved profitable outcome in Chinese market which supported by a net sales of 10 billion RMB and an increase of