Corporate Sales: $15.4 Billion
Beauty Sales: $4.4 billion

Major Products: Skin Health and Beauty product brands including Neutrogena, Aveeno, Dr.Ci:Labo, OGX, and Le Petit Marseillais.

New Products:

• Neutrogena Hydro Boost Water Gel in refillable jar
• Neutrogena Purescreen+ Invisible Daily Defense Mineral Face LiquidSPF 30
• Neutrogena Sport Body Spray

Comments: Kenvue, the consumer spinoff of Johnson & Johnson, became a fully independent company in 2023, focused on consumer health care and everyday needs. The company’s Skin Health and Beauty product categories include Face and Body Care; Hair Care, Sun Care; and Other.

With $15.4 billion in total net sales (including baby products and other CPGs), Kenvue says it is the world’s largest pure-play consumer health company by revenue—and seeks “to deliver sustainable profitable growth through science-backed innovative products, solutions and experiences centered around consumer health.” They say they owe their success to a digital-first approach to marketing that’s focused on the consumer for all decisions related to product delivery, services offerings, and experiences. Marketing strategy and campaigns are tailored to the distinctive needs of consumers in local markets throughout the world.

Skin Health & Beauty sales rose less than 1% last year to about $4.4 billion, an increase of $28 million, or 0.6%. The company attributed the increase to an easing of supply chain constraints, strong e-commerce and club channel performance, one-time supply replenishment, and share gains in sun care, due to a strong sun season, partially offset by underperformance in “commercial U.S. in-store execution, portfolio rationalization initiatives in 2022, and market softness in China,” according to the company.

In the fourth quarter of FY 2024, Kenvue reported an 8% drop in organic sales within its skin health and beauty segment. According to financial filings, Neutrogena and other skin and beauty products account for roughly 20% of Kenvue’s revenue.

2023-2024 Highlights:

In January 2024, Neutrogena took a step forward in sustainability, when it launched its Hydro Boost Water Gel in a refillable jar. The product is sold with a refill pod system.

Once empty, consumers twist and pop out the empty pod to recycle it, and insert a new pod into the reusable jar. According to the brand, the design reduces plastic waste by 89% compared to Neutrogena’s refillable jar.

In April 2024, Neutrogena closed its LA Office and announced job cuts, while also consolidating operations in NJ, laying off 84 employees.

Meanwhile, the company was relocating its headquarters from Skillman, NJ to a newly built research and development facility in Summit, NJ.

Looking Ahead:

Kenvue expects full year 2024 reported net sales growth to be 1-3%. CEO Thibaut Mongon, Chief Executive Officer and Director is confident that their 2024 plans will allow Kenvue to deliver solid results in their first full year as an independent company. He points to post-consumer health products with “a heightened focus on preventative care and science-backed solutions…and shifting the paradigm of beauty towards health.” In addition, he says, “…market trends and consumer preferences and purchasing patterns may vary by geographic region, and we seek to complement our portfolio of iconic global brands with strong regional brands that are uniquely tailored to local preferences and trends.”