Covestro says online polymer sales will add €1 billion per year
25/05/2018
Mr Thomas leaves the post on May 31 and will be succeeded by the company’s current chief commercial officer, Dr Markus Steilemann. During his last month in office, Mr Thomas confirmed that Covestro will make its products available to business customers on the online shopping platform Alibaba.
Around 50 polymer materials have been available for Chinese manufacturers to purchase on the online platform since the end of April and Covestro is already planning to expand the range. According to the company’s calculations, this is a move that could add €1 billion to annual sales by the end of 2019.
“Digitalisation is rapidly changing customer needs and preferences and offering new business opportunities, especially in the fast growing Chinese economy,” said Dr Steilemann in recent comments. “For us, China is playing a more and more important role, not only in terms of market size but also with regard to innovation in relevant markets and technologies. With the launch of an online store on Alibaba we are innovating our business models in close cooperation with our customers.”
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