Unilever may be looking to slim its skincare portfolio.
On Sunday, Sky News reported that Unilever has hired advisers from Pricewaterhousecoopers to explore a sale of Kate Somerville, a facialist-founded line popular with celebrities. Itâs also reportedly considering disposing of Ren Clean Skincare, a skincare line that targets sensitive skin. It acquired both brands in 2015, and houses them under the Unilever Prestige division.
In June, the divisionâs founding chief executive officer, Vasiliki Petrou, announced her departure to launch her own investment fund. A successor has not yet been named.
Under her tenure, which began in 2014, the company acquired 10 brands, including hair care line K18 in December 2023. On July 1., the chief executive officer of Ren Clean Skincare, Michelle Brett, stepped down from her post without a successor named.
The skincare market has seen increasing saturation, as affordable lines such as Cerave and The Ordinary have grown rapidly, while premium lines like Augustinus Bader and Eighth Day have created buzz with wealthier shoppers, leading to something of a squeezed middle for premium brands.
In its second-quarter earnings in June, Unilever noted softer growth in its prestige beauty unit.
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Unilever Prestige CEO Vasiliki Petrou to Step Down
The executive is leaving the beauty conglomerate to launch her own investment fund.
