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According to reports, Unilever consults Pricewaterhousecoopers for the possible sale of Kate Somerville and REN Skincare.
August 27, 2024
By: Rachel Klemovitch
Assistant Editor
Following the overall market slump in prestigious skincare sales, Unilever is reportedly considering the sale of two of its luxury skincare brands—Kate Somerville and REN Skincare. According to reports from Sky News, Unilever is working with advisors from Pricewaterhousecoopers on a potential sale of the brands. The company acquired both brands in 2015. Kate Somerville is an eponymous brand popular among celebrities and was founded by a California-based facialist. REN Skincare creates products targeted for sensitive skin. This announcement follows the departure of Unilever’s Prestige Division CEO, Vasiliki Petrou. In June Petrou left the company to launch her own investment fund. While tenured with Unilever, Petrou helped create the Prestige division in 2014 and led 10 acquisitions. The division houses Hourglass, Tatcha, Paula’s Choice, recently acquired K-18, and more. Unilever reported a “muted” quarter in its Prestigious Division, particularly from China and the U.S.
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