Unilever Q1: Aggressive M&A Paying Off; Oral Care Cited As Space To ‘Watch’
Anglo-Dutch firm’s prestige business, created in recent years through acquisitions such as Hourglass, Dermalogica and Kate Sommerville, grew by double digits in the first quarter. Oral care declined, but CEO Alan Jope is optimistic about the segment’s future.
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Unilever is not providing fiscal 2020 guidance at the moment amid so many COVID-19 unknowns. However, leadership did offer predictions during the firm’s first-quarter earnings call as to how the pandemic is likely to have lasting effects on consumer behavior and the global marketplace.
Unilever acquires ‘modern, prestige’ skin care firm Tatcha in a reported $500m deal. Tatcha's comprises dozens of items formulated with green tea, rice and algae. Unilever continues seeking beauty and personal care deals, which accounted for 70% of its acquired turnover in recent years.
The French cosmetics giant continues to benefit from Chinese millennials with voracious luxury appetites, posting 14% like-for-like growth in its Luxe division for the fiscal 2019 first quarter. L’Oreal’s Consumer Products business is improving as well, with a return to growth in Western Europe, while North America continues to struggle.