Major Products: Baby Care—Johnson’s Baby, Desitin; Hair & Skin Care—Aveeno, Bebe, Clean & Clear, Dr. Ci:Labo, Lubriderm, Neutrogena, OGX, Rogaine; Oral Care—Listerine; Pain Care—Bengay

New Products: Neutrogena—Ultra Sheer mineral face liquid sunscreen, Ultra Sheer face stick sunscreen, Ultra Sheer body mist sunscreen spray, Gentle Cleansing Wipes Ultra-Soft Micellar Wipes, Hydro Boost Hyaluronic Acid lip balms, High Shine Glossy Lip, Hydrating Grip primer, Invisibly Radiant UV primer, Hydro Boost translucent loose-setting powder; OGX-improved formulas.

Comments: Corporate sales rose less than 1% to $15.5 billion.

Kenvue said it made progress on several fronts in 2024: strengthened presence and prominence in store and online, launched impactful innovation, and expanded and deepened engagement with consumers and healthcare professionals. More specifically, the self care business strengthened leadership positions and gained share across categories. Essential health grew mid-single digits and delivered volume growth in North America, Latin America, and Europe, Middle East and Africa. The skin health and beauty business grew volume and value in EMEA and LATAM and started to see improvement in the US, too.

Taking a closer look at the portfolio, self care sales rose 2.9% to $1.6 billion. Skin health and beauty sales rose 2.6% to $1.0 billion. The gain was attributed to volume-led, double-digit growth in EMEA and LATAM. Essential health sales fell 0.7% to $1.1 billion. The decline was blamed on weakness in the Asia-Pacific region.

Q1 2025 corporate sales fell 3.9%, reflecting organic sales decline of 1.2% and unfavorable forex of 2.7%. By segment, self care sales fell 1.8% to $1.6 billion; skin health and beauty declined 7.3% to $977 million and essential health dropped 3.9% to about $1.1 billion. For 2025, the company expects net sales to increase 1-3% and organic sales growth of 2-4%.

In Q1, Johnson’s Baby unveiled new packaging for its giftsets.

Kenvue Cares…

Kenvue Cares Week, the company’s signature annual volunteer initiative part of its Healthy Lives Mission, was held in May. Company executives said Kenvue Cares Week is a testament to the strong company commitment to advance the well-being of people and planet, giving back through volunteerism, and delivering meaningful, measurable impact in local communities.

Throughout the month, thousands of “Kenvuers” joined together in 21 markets across six continents to support causes driven by the company’s commitments, creating over 5,000 hours of meaningful moments, building stronger connections with their communities and demonstrated the power of everyday care in action. This marks a fourfold increase in site participation compared to the program’s inaugural year.

This year, Kenvuers will help deliver approximately 22,000 hygiene kits, curated with over 110,000 products from across iconic brands, including Neutrogena, Listerine, OGX, Johnson’s Baby and Aveeno, to support the health and wellbeing of vulnerable communities, including those affected by natural disasters, homelessness and conflict.

In North America, volunteers packed hygiene kits of Kenvue products for disaster relief with Heart to Heart International in the US and with Save the Children in Canada; plant trees in Guelph and Markham, Canada to support reforestation; distribute food with local partners GRACE and Bridges Outreach; and pack food donations with the Mattie N. Dixon Community Cupboard in Fort Washington, PA.

In Latin America, volunteers built hygiene kits with Save the Children in Cali, Colombia and Mexico City, and with Direct Relief in San Jose Dos Campos, Brazil; built sanitary bathrooms and helped promote hygiene habits with local partner Modulo Sanitario in Buenos Aires; and renovated playgrounds at children’s villages with Aldeas Infantiles in Asunción, Paraguay.

In Europe, Middle East and Africa, volunteers packed hygiene kits with Save the Children in Cape Town, South Africa; Madrid, and with In Kind Direct in high Wycombe, England. Kenvue employees even participated in “plogging” (jogging and picking up litter at the same time) in Rotkreuz, Switzerland, and hosted an Equity in STEM workshop in High Wycombe, England.

In Asia-Pacific, volunteers assembled hygiene kits with Save the Children in Sydney, Australia, Beijing and Shanghai, China; planted trees on Motuihe Island in Auckland, New Zealand; supported elderly care centers in Singapore through NTUC Health Day Care Centre, and packed food kits with the India Food Banking Network in Baddi and Mulund, India.

Skin Health & Beauty sales rose less than 1% last year to about $4.4 billion. The business includes face care, body care, hair care and sun care. Organic growth was $80 million, or 1.8%, primarily driven by value realization of 6.6%, offset by volume related decreases of 4.8%. The increase was driven by the easing of supply chain constraints, strong e-commerce and club channel performance, one-time supply replenishment, and share gains in sun care, which were fueled by a strong sun season, partially offset by underperformance in commercial US in-store execution, portfolio rationalization initiatives in 2022, and market softness in China, according to the company.

Essential Health sales rose 1% to $4.6 billion. Kenvue’s Essential Health business includes oral care, baby care and other categories not covered by Happi. Kenvue noted that big gains in oral care were offset by category contraction and the supply suspension of certain personal care products in Russia.

For Q1 2024, corporate sales increased 1.1% to $3.9 billion. Essential health sales rose 3.7%. Gains were attributed to strong product innovations that resonated with consumers. Skin health and beauty sales fell 5.1%. But company executives said they began executing actions to stabilize the US business.

In an interview with Happi earlier this year, Adam Ricciardone, global head of R&D-Skin Health & Beauty and Head of R&D – North America, explained that today, consumers want efficacy, sustainability and value in their personal care products.

“We are seeing more personalization, and a lot of confusion,” said Ricciardone. “Consumers get a lot of messaging, but how do they know what is real and what’s not? As Kenvue, we bring credibility and trust and help them make the right choices.”

In May, Kenvue rolled out Aveeno Healthy Start Wash and Balm for newborns. Both formulas are safe to use from day one. In fact, Kenvue researchers like to say, “when the vernix comes off, the Healthy Start Newborn Balm goes on.” Aveeno Baby Healthy Start Newborn Balm is a rich, emollient balm inspired by the multifunctionality of the vernix to nourish and maintain the newborn skin barrier, their shield from germs and irritants. It is a hypoallergenic and gentle formula that contains Triple Oat Complex, a blend of soothing moisturizers with antioxidant and prebiotic properties that moisturize and support newborn skin, and is clinically-proven to increase hydration in one use, according to the brand.

Aveeno Baby Healthy Start Newborn Wash is a nourishing cleanser made with prebiotic oat, oat extract and glycerin to create a rich lather that gently cleanses delicate newborn skin, and supports the natural moisture barrier when used together with Aveeno Baby Healthy Start Newborn Balm.

Later this year, Kenvue will roll out a pre-aging skin care line.

“We know consumers in their 20s are trying to prevent signs of aging,” Ricciardone. “They know something is happening (to their skin) and social media hasn’t helped.”

Kenvue expects full year 2024 reported net sales growth to be 1-3%.

Sales: $7 billion

What’s new? Kenvue! The spinoff of Johnson & Johnson Consumer Brands took place in May, but the move was announced back in September, 2022. At the time of the announcement, J&J explained the name (pronounced ken-view), is inspired by two ideas:

• “Ken”—meaning knowledge, an English word primarily used in Scotland; and
• “Vue”—referencing sight.

Johnson’s baby care is part of Kenvue’s offerings.

With rich knowledge of human needs and deep consumer insights, Kenvue will deliver meaningful, personal health solutions, said J&J at the time of the announcement.

Kenvue debuted on the New York Stock Exchange on May 4 under the ticker symbol, KVUE. The initial public offering was priced at $22 a share, and is the largest US IPO in 2023 to date. At $22 a share, Kenvue was valued at $41 billion. A month later, Kenvue was trading at $24.96 a share. Obviously, investors like what they see about a new company with a roster of familiar, well-known brands like Johnson’s, Listerine and Neutrogena.

Kenvue is well positioned for accelerated growth following its separation from parent company Johnson & Johnson, according to JPMorgan. The investment bank said that it views both Kenvue’s dividend and valuation as “attractive,” with the company “uniquely positioned” to capitalize on “mega trends” in consumer markets such as self-care and aging. It noted that 10 of Kenvue’s products have annual sales above $400 million, including Aveeno, Band-Aid, Neutrogena, Stayfree/Carefree, Tylenol and Zyrtec.

JP Morgan told investors that Kenvue will deliver “resilient growth” in a market worth $369 billion. Further, the bank sees “significant opportunities to scale in many adjacencies and markets around the world organically and through tuck-in M&A.”

JP Morgan set a December 2023 price target of $29.

Kenvue’s 2022 sales were $15 billion, but that total includes cough and cold medicines, pain relievers and other self-care products. Happi estimates sales in our industry come in at $7 billion. By segment, face & body care represent 20% of sales, with hair, sun & other, oral care and baby care each accounting for 9% of sales.

For Q1 2023, corporate sales rose 7% to $3.8 billion. Skin health and beauty segment sales rose nearly 10% to over $1.1 billion. Kenvue credited the gain, in part, to strong e-commerce and club channel performance primarily in the US, driven by new product launches, supply chain constraints easing, one-time supply replenishment and sun season pipeline fill.