Supplying a wide range of industries with products such as adhesives and sealants, the Bayer Group’s Material Science division was a leading polymer producer.
A huge challenge was posed in 2017 when Bayer announced the division’s spin-off. The new business needed a visual identity that would position it as a leading global player in its own right and help attract investment.
Ground-breaking, attitudinal brand values were developed for the new business, along with a bold creative direction built around the core brand idea of ‘The Brighter Element’.
With a new name ‘Covestro’ and a colourful, optimistic look and feel that differentiates it in a sterile sector, the business became Germany’s largest initial public offering (IPO) since 2000 on its first day of trading in 2015. With share sales oversubscribed, the emission volume target of €1.5 billion was achieved through the IPO and launch. Impressively, even at a time of great uncertainty, staff brand approval was boosted to its highest ever, rising from 45% to 90%.
Two years on, Covestro’s share price has more than doubled and gross profit is up 65%.