02.01.24
Henkel, has signed an agreement to acquire Vidal Sassoon and its related hair care business in Greater China from Procter & Gamble. The Vidal Sassoon portfolio offers shampoos, conditioner, and products dedicated to hair styling and treatments.
Vidal Sassoon is an iconic salon-inspired hair care brand that Procter & Gamble has owned since 1985. The brand's namesake, Vidal Sassoon, was the most famous hairstylist in the 1960s and created Mary Quant's infamous bob haircut. Sassoon sold his company in 1983—to Richardson-Vicks, which was acquired by Proctor & Gamble two years later. Sassoon died in 2012 when he was 84 years old.
Henkel says the acquisition will strengthen is footprint in the Chinese hair care market, and "address a white spot in the premium retail segment."
In the 2022/2023 fiscal year, Vidal Sassoon generated over $2 million in sales within the Chinese market.
Henkel CEO Carsten Knobel commented, “as part of our strategic growth agenda, we a pursuing targeted acquisitions to actively shape and strengthen our portfolio. The transaction will be a step-change for our Consumer Brands business in China, providing the opportunity to further scale our business in one of our core categories in the attractive, growing market.”
Wolfgang König, Executive Vice President Henkel Consumer Brands, added, “We are excited about the opportunity to add this strong brand to our portfolio. It perfectly fits our strategic focus of expanding our competence in hair beyond our existing brands in the Professional and Retail space. With this acquisition, we are able to offer a complete portfolio of hair innovations to consumers in China – across Schwarzkopf, Schwarzkopf Professional, Shiseido Professional, as well as Vidal Sassoon.”
Terms of the acquisition were not disclosed, but P&G valued the business at approximately $1 billion, reports say. The acquisition is subject to customary closing conditions, including regulatory approvals.
Vidal Sassoon is an iconic salon-inspired hair care brand that Procter & Gamble has owned since 1985. The brand's namesake, Vidal Sassoon, was the most famous hairstylist in the 1960s and created Mary Quant's infamous bob haircut. Sassoon sold his company in 1983—to Richardson-Vicks, which was acquired by Proctor & Gamble two years later. Sassoon died in 2012 when he was 84 years old.
Henkel says the acquisition will strengthen is footprint in the Chinese hair care market, and "address a white spot in the premium retail segment."
In the 2022/2023 fiscal year, Vidal Sassoon generated over $2 million in sales within the Chinese market.
Henkel CEO Carsten Knobel commented, “as part of our strategic growth agenda, we a pursuing targeted acquisitions to actively shape and strengthen our portfolio. The transaction will be a step-change for our Consumer Brands business in China, providing the opportunity to further scale our business in one of our core categories in the attractive, growing market.”
Wolfgang König, Executive Vice President Henkel Consumer Brands, added, “We are excited about the opportunity to add this strong brand to our portfolio. It perfectly fits our strategic focus of expanding our competence in hair beyond our existing brands in the Professional and Retail space. With this acquisition, we are able to offer a complete portfolio of hair innovations to consumers in China – across Schwarzkopf, Schwarzkopf Professional, Shiseido Professional, as well as Vidal Sassoon.”
Terms of the acquisition were not disclosed, but P&G valued the business at approximately $1 billion, reports say. The acquisition is subject to customary closing conditions, including regulatory approvals.
