Yesterday, Nutrafol, the hair growth supplement brand owned by Unilever, has announced Cindy Gustafson as its new chief executive officer, effective January 1. Gustafson, currently Nutrafol’s chief marketing officer, will succeed co-founder Giorgos Tsetis, who transitions to the newly created role of Chairman.
“It’s obviously a bittersweet moment for me,” Tsetis said in an interview. As Chairman, he will continue to guide Nutrafol and advise on Unilever’s broader Wellbeing portfolio, which includes brands like Liquid IV.
In her new role, Gustafson will focus on expanding Nutrafol’s reach and fortifying its core offerings, including postpartum care and men’s health. The brand also plans to introduce category extensions such as skin supplements and personalized products.
Founded in 2016 by Tsetis and Roland Peralta, Nutrafol began as a direct-to-consumer brand available through dermatologist offices. After receiving minority investments from LVMH-backed private equity firm L Catterton and Unilever’s corporate venture arm, Nutrafol was fully acquired by Unilever in 2022 for an estimated $1.2 billion—a figure Tsetis described as “conservative.”
Since the acquisition, Nutrafol has experienced remarkable growth, tripling its turnover, launching in Sephora, and entering the Chinese market through cross-border commerce. Tsetis highlighted the brand’s exceptional customer retention, with 91% of customers repurchasing after six months and over one million subscribers currently enrolled in Nutrafol regimens.
“Typically, post-acquisition, things don’t go well, right? That’s been the opposite for us,” Tsetis noted, expressing optimism for the brand’s future under Gustafson’s leadership.
