Unilever is one of the top 100 cosmetic companies of 2023.
New chief executive officer Hein Schumacher took the reins in July, revealing a major overhaul to operations in October. After assessing the consumer-goods heavyweight’s operations, Schumacher concluded it had been spreading its resources too thinly, with too many smaller brands and projects competing for attention. He plans to streamline strategy, supply chain and the company’s approach to sustainability., Vaseline and Pond’s and transforming its portfolio to become more focused.
Despite the streamlining, Unilever continued to be active on the acquisition front. In December, it inked a deal to acquire buzzy hair care brand K18 for an undisclosed sum, with the deal expected to close in the first quarter of 2024. The brand is intended to supercharge growth in the Prestige division and leverage K18’s innovation capabilities, which include the global exclusive license for the keratin genome.
Hair care grew in the mid-single digits, and performed particularly well in Latin America and Turkey. Sunsilk delivered double-digit growth thanks to its relaunch, and Clear was driven by the launch of a niacinamide-based anti-dandruff formula.saw double-digit growth, and broke the €1 billion sales barrier, driven in part by the expansion of its Gluta-Hya range and by the “slugging” trend. In North Asia, AHC declined double digits as the company worked to overhaul its cross-border business.
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