Commissioned by WirtschaftsWoche, a leading German business magazine, the consultancy Munich Strategy assessed the innovative strength of 3,500 medium-sized enterprises, with Faubel among the top 100.
Managing Director Frank Jäger was delighted to see his company included in this exclusive ranking: "This is great news! For many years, we have attached great importance to developing new products alongside our established labels. Today we are proud to be ranked among Germany's most innovative medium-sized enterprises".
Business Is Doing Well
To establish a ranking, the consultancy Munich Strategy analyzed annual financial statements and presentations. In addition, they surveyed managing directors, customers and competitors and calculated an innovation score out of 400 companies. To achieve this, they assessed revenue and profit history as well as the innovative strength of the medium-sized business. Munich Strategy determined Faubel’s innovative strength by considering new products, research expenditure and competitors’ opinions, amongst other aspects.
Back in November 2019, Faubel had already been named "Hessian Champion" and was one of the finalists for the Health-i-Award. Yet, for Faubel’s Managing Director, being placed in the Top 100 ranking of "Germany's most innovative medium-sized enterprises" is more than just another award. "Many of the medium-sized businesses on the list are larger, have higher revenues or sell products made for a broader target group. To see that Faubel, with its inconspicuous labels for pharmaceuticals, is part of it too, spurs us on and shows that stepping out of a niche definitely pays off".
Smart Labels Expanding Faubel’s Portfolio
Recently, several Smart Labels with RFID-controlled e-paper displays replacing paper ones have reached market maturity at Faubel. Such labels can be automatically updated several times. "Smart Labels are, for example, particularly suitable for dynamic labelling used on reusable containers in intralogistics," Jäger explains.
For this purpose, the company opened its "New Technologies" production facility at its Melsungen headquarters in 2018. In addition, a special machine worth over one million euros will move in at the end of 2020 to produce Smart Labels. ”Innovation goes hand in hand with investment”. That's why we always invest in well-trained specialists and technology," Frank Jäger adds.