Unilever to streamline prestige portfolio with sale of two big brands

Unilever is exploring the potential sale of Kate Somerville and REN Clean Skincare, just one month after the Chief Executive of its prestige beauty division exited the business. 

The company is working with advisers on the disposal of Kate Somerville, an upscale skincare brand it acquired in 2015, according to Sky News.

City sources told the publication that Unilever has engaged PricewaterhouseCoopers to explore interest from potential buyers, adding that it was unclear what valuation Unilever would seek for the brand.

Insiders revealed that Unilever is also planning to offload REN Clean Skincare, which it also bought in 2015 to bolster its prestige portfolio.

The potential disposals come just over a year after Hein Schumacher was appointed as Chief Executive Officer, replacing Alan Jope, who announced his intention to retire from Unilever in September 2022.

It also comes after Vasiliki Petrou left her role as CEO of Unilever Prestige, the division she created a decade ago to help bring a portfolio of premium beauty brands into the company.

Petrou, who also serves as Chairwoman at CEW UK, left the business at the end of July to set up her own investment fund.

Over the years, Unilever has added a number of global beauty brands to its prestige portfolio. Among the acquisitions is Tatcha, Hourglass, Living Proof, Murad, Dermalogica, Kate Sommerville and REN Clean Skincare, as well as the purchase of premium biotech haircare brand K18 in December last year.

Read TheIndustry.beauty's feature on the power of prestige beauty.