The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Consumer goods giant Unilever is considering a $1 billion offer for U.S. skin-care brand Drunk Elephant, the Sunday Telegraph reported, without saying where it got the information.
Drunk Elephant, founded in 2012 by Texan mother-of-four Tiffany Masterson and which makes skin-care products with natural, nontoxic ingredients, hired investment banks in January to explore a sale, according to the Wall Street Journal. Unilever declined to comment on the potential offer to the Sunday Telegraph.
The Anglo-Dutch owner of Dove soap, has been expanding into new areas as its traditional brands stagnate. It’s been snapping up niche labels in divisions such as vegan and organic food, while shedding stagnant business like its spreads unit, which the company sold in 2018.
New CEO Alan Jope is also seeking to boost profitability by assembling a division called Prestige with high-end skin-care brands such as Ren and Dermalogica.
By Joe Mayes in London; Editors: Rebecca Penty, Neil Chatterjee, Nick Rigillo.
Shining light on the $12.3 billion SPF boom.
News of a potential exit has the beauty industry in shock and awe of the Selena Gomez-founded label, and wondering what its next move should be.
L'Oréal reported a 9.4 percent rise in first quarter sales on a like-for-like basis on Thursday, beating expectations and easing concerns about a slowdown in the two biggest beauty markets; the United States and China.
The founder, who was ousted and recently came back to the line as CEO, will regain control of the company.