10.17.24
Unilever is #2 on our Top Global Beauty Companies 2024 Report.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands, and latest innovations.
#2 Unilever
London, UK
www.unilever.com
Unilever’s full-year performance reflected strong growth in Prestige Beauty and Health & Wellbeing, which now account for a quarter of Beauty & Wellbeing’s turnover, as well as successful relaunches of some of its core Hair Care and Skincare brands.
Hair Care rose mid-single digits through a combination of price and volume growth, with strong growth in Latin America and Turkey. Sunsilk delivered double-digit growth for the year following a successful relaunch of the brand. Clear delivered mid-single digit growth driven by breakthrough innovation—its first clinically proven anti-dandruff formula powered by niacinamide concentrate to repair and strengthen the scalp’s skin barrier. Following the successful relaunch in China last year, the mix is now available in Thailand, Turkey, and Brazil.
Core Skincare grew by low-single digits, driven by price. Vaseline delivered double-digit growth in 2023. Following the launch of its Gluta-Hya range in Southeast Asia two years ago, the company further expanded the platform with the launch of serums and a Pro-Age range, tapping into a larger consumer pool by extending the patented technology to more products and new markets such as India.
In its U.S.-centric Prestige Beauty and Health & Wellbeing portfolios, Unilever brands continued to grow ahead of the market, delivering double-digit growth for the year. This was supported by strong performances from Hourglass, Dermalogica, and Paula’s Choice, which launched a Vitamin C range.
The company’s Personal Care unit, which represented 23% of the total turnover, saw an 8.9% underlying sales growth, led by the company’s “Power Brands.”
Unilever’s deodorant category grew in double-digits, led by strong volume growth, particularly in Europe and Latin America. Rexona grew double-digits and its range of products with 72-hour sweat and odor protection technology is now in over 100 markets. Dove delivered double-digit growth with the successful launch of Dove Advanced Care for women and the launch of a new range of Dove Men+Care antiperspirant. Axe grew by single digits following the launch of its new, long-lasting fine fragrance collection.
The Skin Cleansing unit delivered mid-single digit growth with positive volumes. Lux grew double-digits, driven by elevated skincare benefits in soap bars from its ProGlow technology. In the U.S., Dove grew mid-single digits supported by its Body Wash relaunch with new packaging and 24-hour renewing MicroMoisture technology. The Dove Personal Care portfolio achieved double-digit growth with balanced price and volume growth.
In November 2023, Unilever extended its Baby Dove brand, launching Baby Dove Caring by Nature Collection and Baby Dove Ultra Gentle Foaming Wash Collection. And in February 2024, the company launched the Dove Bond Strength regimen, an end-to-end solution to help visibly repair and restore hair
According to an August report in Sky News, Unilever was in talks to sell its luxury Kate Somerville prestige skincare and REN skincare brands.
In Q2, the company posted lower-than-expected sales growth; however, its Beauty & Wellbeing unit sales grew 7.1%, led by strong hair care sales from Sunsilk and Dove. Unilever additionally said it expected its 2024 total year underlying sales to grow between 3-5%.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands, and latest innovations.
#2 Unilever
London, UK
www.unilever.com
Corporate Sales:
$64.4 Billion
Beauty & Personal Care:
$26.3 BillionKey Personnel:
- Hein Schumacher, Chief Executive Officer
- Fernando Fernandez, Chief Financial Officer
- Esi Eggleston Bracey, Chief Growth and Marketing Officer
- Reginaldo Ecclissato, Chief Business Operations and Supply Chain Officer
- Fabian Garcia, Business Group President, Personal Care
- Priya Nair, Business Group President, Beauty & Wellbeing
Major Products/Brands:
Beauty & Wellbeing and Personal Care brands, including Clear, Dermalogica, Dove, Dove+Men, Liquid IV, Nutrafol, Paula’s Choice, Pond’s, Sunsilk, Tresemmé, Vaseline, Axe, Closeup, Lux, Lifebuoy, Pepsodent, Rexona.New Products:
- Clear Men Scalp Pro Anti-Hair Fall
- Pond’s Bright Miracle
- Dove Body Wash with 24-Hour Renewing MicroMoisture
- Lifebuoy Vitamin+
- Baby Dove Ultra Gentle Foaming Wash Collection
- Dove Men+Care deodorants
- K18 (acquisition)
Comments:
Unilever remained steady during the year, with a less than 1% drop in its overall 2023 corporate sales. Its Beauty & Wellbeing unit represented 8.3% of underlying sales growth and 21% of group turnover. Total Beauty and Personal Care Sales reached $26.3 billion [Beauty & Wellbeing: $12.5b + Personal Care: $13.8b].Unilever’s full-year performance reflected strong growth in Prestige Beauty and Health & Wellbeing, which now account for a quarter of Beauty & Wellbeing’s turnover, as well as successful relaunches of some of its core Hair Care and Skincare brands.
Hair Care rose mid-single digits through a combination of price and volume growth, with strong growth in Latin America and Turkey. Sunsilk delivered double-digit growth for the year following a successful relaunch of the brand. Clear delivered mid-single digit growth driven by breakthrough innovation—its first clinically proven anti-dandruff formula powered by niacinamide concentrate to repair and strengthen the scalp’s skin barrier. Following the successful relaunch in China last year, the mix is now available in Thailand, Turkey, and Brazil.
Core Skincare grew by low-single digits, driven by price. Vaseline delivered double-digit growth in 2023. Following the launch of its Gluta-Hya range in Southeast Asia two years ago, the company further expanded the platform with the launch of serums and a Pro-Age range, tapping into a larger consumer pool by extending the patented technology to more products and new markets such as India.
In its U.S.-centric Prestige Beauty and Health & Wellbeing portfolios, Unilever brands continued to grow ahead of the market, delivering double-digit growth for the year. This was supported by strong performances from Hourglass, Dermalogica, and Paula’s Choice, which launched a Vitamin C range.
The company’s Personal Care unit, which represented 23% of the total turnover, saw an 8.9% underlying sales growth, led by the company’s “Power Brands.”
Unilever’s deodorant category grew in double-digits, led by strong volume growth, particularly in Europe and Latin America. Rexona grew double-digits and its range of products with 72-hour sweat and odor protection technology is now in over 100 markets. Dove delivered double-digit growth with the successful launch of Dove Advanced Care for women and the launch of a new range of Dove Men+Care antiperspirant. Axe grew by single digits following the launch of its new, long-lasting fine fragrance collection.
The Skin Cleansing unit delivered mid-single digit growth with positive volumes. Lux grew double-digits, driven by elevated skincare benefits in soap bars from its ProGlow technology. In the U.S., Dove grew mid-single digits supported by its Body Wash relaunch with new packaging and 24-hour renewing MicroMoisture technology. The Dove Personal Care portfolio achieved double-digit growth with balanced price and volume growth.
2023-2024 Highlights:
Restructuring was the name of the game in late 2023 and early 2024. In the fall of 2023, Unilever announced that it would sell its Dollar Shave Club brand due to lagging sales. The company also streamlined its New York facilities, ending the manufacture of its beauty and personal care products in Amityville and closing its Farmingdale warehouse. In total, 169 employees were laid off as part of a plan to realign its beauty and personal care product manufacturing.In November 2023, Unilever extended its Baby Dove brand, launching Baby Dove Caring by Nature Collection and Baby Dove Ultra Gentle Foaming Wash Collection. And in February 2024, the company launched the Dove Bond Strength regimen, an end-to-end solution to help visibly repair and restore hair
Unilever extended its Dove collection in Canada.
In July 2024, Vasiliki Petrou, CEO of Unilever Prestige, stepped down. In her 10-year tenure, she helped create the brand’s Prestige division in 2014, and oversaw the acquisition of 10 brands including Paula’s Choice, Dermalogica, K18, Murad, Living Proof, REN, Kate Somerville, Hourglass, Tatcha and Garancia.
According to an August report in Sky News, Unilever was in talks to sell its luxury Kate Somerville prestige skincare and REN skincare brands.
Looking Ahead:
In Q1, Unilever group sales rose 1.5%. Specifically, Beauty & Wellbeing grew underlying sales by 7.4%, with volume growth of 5.6%. Personal care sales rose 4.8%.In Q2, the company posted lower-than-expected sales growth; however, its Beauty & Wellbeing unit sales grew 7.1%, led by strong hair care sales from Sunsilk and Dove. Unilever additionally said it expected its 2024 total year underlying sales to grow between 3-5%.
