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Spin-off includes Q-Tips, Caress, Tigi, Timotei, Impulse and MonSavon.
April 30, 2021
By: TOM BRANNA
Chief Content Officer
UPDATE: Unilever sold Elida Beauty to Boston-based private equity firm Yellow Wood Partners LLC in December 2023. Details can be found here. Unilever is spinning off a number of smaller beauty and personal care brands under the name Elida Beauty. The brands include Q-Tips, Caress, Tigi, Timotei and MonSavon. Together, they had sales of about $725 million (660 million euros) and are sold primarily in Europe and North America. Unilever is making the move as the brands “will benefit from dedicated management focus,” according to the company. The announcement came as Unilever reported Q1 results. Sales fell less than 1% to 12.3 billion euros ($14.8 billion at current exchange rates) due to unfavorable exchange rates. Underlying growth was 5.7%. The company said strong growth came from prestige beauty and functional nutrition. Beauty and personal care underlying sales rose 2.3%, with 1.5% from volume and 0.8% from pricing. Skin cleansing grew mid-single digit, with growth in the first two months followed by a decline in March as Unilever started lapping a sharp increase in demand for hygiene products. The company rolled out Dove’s Care & Protect in Americas, Europe and India. The formula is said to combine hygiene and long-lasting moisturization. Skin care and hair care both grew mid-single digit. In hair, wash and care growth was driven by strong performance in China and India, which was partly offset by a decline in styling, as restricted living continued to weigh on usage occasions. Deodorants declined high-single digit as the deodorants market was also impacted by lower consumer usage. Prestige sales grew strong double digit, helped by the gradual restocking and reopening of brick and mortar stores in the US. The Hourglass brand launched a 100% vegan red lipstick formulated with a patent-pending pigment replacing the industry standard, which is produced from crushed beetles.
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