Summit, NJ
www.kenvue.com

Corporate Sales: $15.5 billion
Beauty Sales (Skin Health & Beauty): $4.2 billion

Key Personnel:

Kirk Perry, interim CEO and Director; Andrew Stanleick, President, Skin Health & Beauty for North America and Europe, the Middle East, and Africa; Penelope Giraud, President, Skin Health & Beauty for Asia Pacific and Latin America.

Top Brands/ Major Products:

Skin health and beauty brands including Neutrogena, Aveno, Dr.Ci:Labo, OGX, Clean & Clear, and Maui Moisture.

New Products:

Neutrogena Collagen Bank, Aveeno Daily Moisturizing Cream, Versalie menopause brand with skincare products.

Comments:

Following its success in 2023, Kenvue’s net sales reached $15.5 billion, increasing 0.1% in 2024. The increase in year-over-year value was primarily due to carryover price increases from the prior fiscal year and new pricing actions, while a volume-related decrease was driven by Skin Health and Beauty and Self Care.

Organic sales growth was primarily driven by growth in Essential Health across all product categories, led by Oral Care, as well as growth in Self Care, partially offset by declines in Skin Health and Beauty from volume-related decreases in the United States.

2024-2025 Highlights:

In March 2025, Kenvue opened a new 290,000-square-foot global headquarters in Summit, NJ. The new LEED Gold-certified global headquarters provides a collaborative environment for teams that previously spread across seven geographic locations across the U.S.

Ahead of relocating from a temporary base in Skillman to its new home in Summit, Kenvue cut 51 California-based positions in 2024. This was part of Kenvue’s relocation of its Neutrogena office in Los Angeles, CA, to NJ. The relocation cut 84 employees. Of these, 74 were offered employment at other company locations.

These job cuts are a part of a larger restructuring effort following its separation from J&J in 2023. Kenvue approved a plan to trim 4% of its global workforce of about 22,000 employees. Restructuring also included a cut of 51 positions in 2024, as well as 69 positions in 2025. The latest wave of layoffs took place at the new Summit headquarters.

In 2025, Kenvue made a number of leadership changes. Starting in January 2025, the company appointed Andrew Stanleick to the role of President, Skin Health & Beauty for North America and Europe, the Middle East, and Africa. He leads brands such as Neutrogena, Aveeno, and OGX in these regions. Stanleick joined most recently from BeautyHealth Company, owners of HydraFacial, where he served as President and CEO. He also has experience from Coty Americas as executive vice president, overseeing Luxury and Consumer brands.

Later in January, Kenvue also appointed Penelope Giraud to the role of President, Skin Health & Beauty for Asia Pacific and Latin America. Giraud joins Kenvue from L’Oréal, where she spent the past 23 years focused on skincare and beauty, with strong expertise in dermatological skincare, healthcare professional engagement, marketing, and digital strategies.

Kenvue CEO Thibaut Mongon announced his departure; Kirk Perry has been named interim CEO. Mongon has departed the company and stepped down from the Kenvue Board.

Perry is a current Kenvue director and a consumer products and brand strategist with over 30 years of global consumer-packaged goods, technology, and business transformation experience and a proven track record. He most recently served as president and CEO of Circana and continues to serve on the Circana board. He also spent 23 years at Procter & Gamble.

In June, Kenvue made the prestigious Fortune 500 list for the first time since becoming a fully independent company. Kenvue is listed at number 281. The company’s debut is said to be “a testament to the power of its brands and deep commitment to improving the health and well-being of consumers globally through science-backed, insights-led innovation.”

In 2025, Kenvue started a five-year collaboration with Microsoft to establish a strong foundation for transforming digital operations through advanced Artificial Intelligence (AI) technologies.

Looking Ahead:

Over the next five years, Kenvue will scale its use of Microsoft Azure to capitalize on its wide range of services, including data analytics and AI. The integration of Azure services will enhance predictive capabilities and human-machine collaboration.

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.”