At the time of acquisition of Procter & Gamble, Tula had revealed that net sales for 2021 were expected to be $150 million.
Savannah Sachs, CEO of skincare brand Tula, is set to leave the company. WWD news that Procter & Gamble Beauty confirmed that her resignation will be effective on August 22.
Colin Walsh, currently in charge of Procter & Gamble Beauty Professional Division, will serve as interim CEO of Tula.
In her post on LinkedIn, Savannah Sachs said, “It’s with mixed emotion that I’m sharing after 5 incredible years with TULA Skincare I’ve decided to move on and find my next adventure…. I’ll be excited to watch Tula continue to grow from afar and want to thank Colin Walsh for helping out as TULA’s Interim CEO as I wrap up my final weeks here and all of our Procter & Gamble partners for supporting me.”
During Savannah Sachs’ tenure, she helped Tula enter the Chinese market. It is reported that Tula entered China during the pandemic in 2022 and opened flagship stores on Chinese online channels such as Tmall Global, Xiaohongshu, and Douyin (Chinese version of TikTok) at that time. Chaileedo found that Tula currently only has an overseas flagship store on the Chinese e-commerce platform Douyin. The best seller is Tula Vitamin C antioxidant brightening moisturizer with price of 459 yuan (64 yuan) and 1,177 units sold.
(Credit: from Tula’s official store on Douyin)
It is reported that P&G acquired Tula in early 2022, and Tula’s net sales for 2021 are expected to be $150 million. The brand has been an early advocate of microbiome skincare, and the trend of microbiome skincare has since begun to rise.
NEWS, GLOBAL BRANDS IN CHINA