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.
As awareness grows about the perils of sleep deprivation, beauty and wellness brands are flooding the market with an array of products to cash in on the booming opportunity.
Going public is usually a pivotal moment in a company’s history, cementing its heavyweight status and setting it up for expansion. In L’Occitane’s case, delisting might be a bigger conduit for growth.
Brands say they’re barreling ahead with marketing and commerce on the app, even as the clock starts ticking for owner ByteDance to sell it or shut it down.
The Spanish beauty and fashion conglomerate’s smart acquisitions and diverse portfolio could be a big draw for investors. Plus, Adidas is set to confirm its stellar first quarter.