Yesterday, according to Skynews, Unilever, the consumer goods giant, is seeking to streamline its portfolio of personal care products by considering the sale of two skincare brands: Kate Somerville and REN. The company has engaged PricewaterhouseCoopers (PwC) to explore potential buyers for these brands, which were both acquired in 2015 as part of Unilever’s Prestige personal care portfolio.
Kate Somerville, a luxury skincare brand with a strong following in Hollywood, is among the brands Unilever is looking to offload. The valuation of the brand remains unclear, but its reputation and high-end positioning suggest significant interest from potential buyers. Additionally, insiders have revealed that Unilever is also planning to divest REN, another skincare brand in its portfolio.
This move to slim down its personal care offerings comes on the heels of a leadership change at Unilever. Hein Schumacher, who took over as CEO in July 2023 following his tenure at HJ Heinz, has been steering the company through a period of strategic realignment amid shareholder concerns over performance.
Previously, Unilever has decided to sold Elida Beauty, which contains some iconic brands such as Q-tips, Ponds, Timotei. Last month, Unilever has announced that it will cut around a third of its workforce in Europe between now and the end of 2025, involving 3,000-3,200 employees.
In fact, since Hein Schumacher officially took the helm of Unilever in July last year, the group has embarked on a series of reforms, specifically: accelerated growth (faster growth), productivity simplification (more focused and productive way of operating) and sharper performance edge (sharper performance edge). sharper performance edge).
