How Open Innovation Helped Create a Billion Dollar Brand
The Ideaconnection website reported that Febreze has been one of the fastest growing brands for Procter and Gamble in recent years and it’s due to a combination of internal R&D and external innovation. Open innovation partners have been selected to develop, manufacture and commercialize Febreze-based products. The Febreze brand demonstrates the best of open innovation partnerships, when all parties meet on equal terms. The relationship is not one of a larger company being ‘serviced’ by smaller enterprises for their own needs. All partners complement and maximize each other’s strengths to gain something real, meaningful and valuable from the relationship.
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