Nivea skin cream maker Beiersdorf will make an additional investment of up to €80 million a year in its consumer business to counter a forecast drop in sales growth, the German company said on Tuesday.

New CEO Stefan De Loecker, who took the reins on 1 January, last month promised strategic steps to deliver sustainable growth.

Beiersdorf have said it will invest between €70 million and €80 million a year from 2019 in the consumer segment, which accounts for 80% of group sales.

It said that it expects sales at the division to growth between 3% and 5% this year, against 5% in 2018. It saw growth in all its major skincare brands, including Nivea, Eucerin

For the group, Beiersdorf also expects sales growth of 3-5% in 2019, compared with 5.4% in 2018.