Changes in consumer behaviour, driven by the mega trends like urbanization, digitisation, convenience, and coupled with advances in smart textiles, on-site garment production, robotics and regulations, will drive new business developments including new players in the “Future of Clean Garments” ecosystem.
Answering the question of how to successfully position BASF within new market environments, our challenge is to become aware of these changes and better understand them, hence, we need to reduce uncertainties referring to the most relevant drivers for change. The improved market understanding allows us to evaluate the impact of upcoming challenges for our already existing businesses.
Furthermore, exploring our environment is a prerequisite for discovering value creating opportunities that will contribute to the existing and future business success of BASF. Finding the right partners who could complement to our competencies and who are willing to build a sustainable and competitive new ecosystem of Clean Garments together with us will be crucial for achieving that success. As a next important step towards this improved understanding of future markets and customer needs, we will organize a Summit in April 2018 including potential stakeholders and players of this ecosystem.