Unilever Weighs Sale of Kate Somerville and Ren Clean Skincare

Unilever is reportedly considering selling two of its luxury skincare brands, Kate Somerville and REN Clean Skincare, as part of a broader strategic realignment. According to Sky News, this potential sale comes in the wake of significant leadership changes within the company. Hein Schumacher, who took over as Chief Executive Officer in July 2023 following the announced retirement of Alan Jope, is steering the company through this period of transition.

Unilever, a global powerhouse in consumer goods, acquired both Kate Somerville and REN Clean Skincare in 2015, bolstering its Prestige Division. Kate Somerville, established by the acclaimed Californian facialist, and REN, celebrated for its formulations for sensitive skin, have been central to Unilever’s high-end beauty offerings. However, a recent “muted” performance, particularly in key markets like the US and China, has prompted the company to reassess its portfolio.

The possible sale also coincides with the recent departure of Vasiliki Petrou, the former CEO of Unilever’s Prestige Division. Petrou, who also serves as Chairwoman at CEW UK, was instrumental in expanding the division during her decade-long tenure, overseeing acquisitions such as Tatcha and Hourglass. She has recently left Unilever to establish her own investment fund.

Unilever has reportedly engaged PricewaterhouseCoopers to manage the sale process, aiming to attract potential buyers for both brands. While financial details and the targeted valuation have not been disclosed, the move is viewed as a strategic effort to streamline the company’s operations and concentrate on more profitable or strategically aligned sectors.

Over the past decade, Unilever has significantly expanded its Prestige Division, acquiring several global beauty brands including Living Proof, Murad, Dermalogica, Kate Somerville, REN Clean Skincare, and most recently, the premium biotech haircare brand K18 in December 2023.