Swedish Dna Fuels Foreo Innovation To Top a Billion Dollars in Five Short Years
Sweden Paving the Global Path for Innovation
Dubai, United Arab Emirates; 29th August 2018 - As a beauty brand that has always been focused on product innovation, FOREO has had its share of industry ‘firsts’ in the shape of the very first silicone cleansing brush, first oral care innovation in more than 70 years, this year’s first smart mask treatment, etc. The world’s fastest growing beauty-tech brand credits its success in surprising and delighting beauty buffs around the world to its Swedish roots and design.
Following in the footsteps of great Swedes before such as Volvo, Ericsson, and IKEA, FOREO is another success story to come out of this buzzing Nordic business scene. Sweden invests three percent of its GDP in research - one of the highest rates in the world, focusing mostly on medicine and technology. With over 2.5 thousand patents filed last year, and almost half of its companies growing wealthy on the back of their innovations; the knack for creative thinking makes Sweden one of the world’s most innovative nations.
Ever since its founding in 2013, FOREO did what Swedes do best and wholly transformed its industry. The goal of this beauty-tech powerhouse was to create high-tech beauty products with the potential to improve billions of lives and in the process changing the face of beauty, as well as transforming the look of bathroom shelves across the globe thanks to the sleek product designs. More than five million LUNA brushes sold worldwide serve as a testament to how much FOREO has grown.
“Inspired by Sweden’s tradition for innovation, seen in the success of names such as Skype, IKEA and Alfred Nobel of the Nobel Prize, FOREO stands at the forefront of the beauty-tech revolution. With one product sold every 3 seconds in 2017, and more than 100 awards won, our inventions continue to make a profound impacts on millions of everyday lives,’” explains Filip Sedic, CEO, and founder of FOREO.
Swedish masters of innovation
Almost a century ago, hardly anyone could have predicted that “Made in Sweden” would come to guarantee innovation, unparalleled craftsmanship and design.
Business Insider recently named Sweden as one the best places in the world to start a business in, and the country is home to giants like Volvo, IKEA, Ericsson, H&M, ABB, Tetra Pak and AstraZeneca. The Swedish tech miracle is not restricted to the capital, as other cities in the country are fast becoming new hotspots promising the continuation of the Swedish technological success.
As a pioneer brand that combines beauty with fun and practicality, FOREO has set off a beauty-tech revolution and now the company is looking to do the same yet again. Continuing with the spirit of ground-breaking innovation, FOREO Institute has been working on incorporating AI into its newest addition to the LUNA family, the LUNA fofo.
“As we move into the fifth year in the industry, we are once again reaching for that Swedish gene that is deeply woven into our DNA and sourcing inspiration from it. With personalization being the buzzword in skin care, we can safely say our new AI-driven beauty gadget is set to rock the industry, disrupt existing technologies and offer customers a unique experience and a gadget able to analyze the data gathered, predict potential issues and offer solutions to its users. It doesn’t get much more personal than this,” says Steve Thomson, FOREO CMO.