07.02.23
Skillman, NJ
www.kenvue.com
Sales: $7 billion
Key Personnel: Thibaut Mongon, chief executive officer and director; Luani Alvarado, chief people officer; Ellesha Kirby, global head, skin health & beauty and design; Carlton Lawson, group president, Europe, Middle East and Africa; Donna Lorenson, chief corporate affairs officers; Jan Meurer, chief growth officer; Matt Orlando, general counsel; Rosana Padilla, president, Latin America; Manoj Raghunandanan, global head, self-care and consumer experience organization; Paul Ruh, chief financial officer; Meri Stevens, chief operations officer; Bernardo Tavares, chief technology & data officer; Caroline Tillett, PhD, chief scientific officer; Kathy Widmer, group president, North America and Latin America; Ellie Bing Xie, group president, Asia Pacific; Natasha Zuyev, chief quality officer
Major Products: Baby Care—Johnson’s, Aveeno Baby, Desitin. Oral Care—Listerine; Skin Health & Beauty—Neutrogena, Aveeno, Dr.Ci:Labo, Clean & Clear, Lubriderm, Johnson’s Le Petit Marseillas, Dabao, Neostrata, Exuviance; Hair, Sun & Other Care: Neutrogena, Aveeno, OGX, Maui Moisture, Rogaine, Piz Buin, Sundown
New Products: Aveeno—Eczema Therapy Rescue Relief Treatment Gel Cream, Tone + Texture Gentle Renewing Night Cream and Renewing Lotion for Sensitive Skin, Calm + Restore Nourishing Oat Facial Cleanser refill; Baby Care—Johnson’s Sensitive Care Wash and Cream; Listerine—Concentrate Refills, Zero; Neutrogena—Ultra Gentle Body Gel Hydrator Lotion Pro-Vitamin B5 Moisturizer; Johnson’s—Sensitive Care wash and body cream
Comments: 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:
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.
www.kenvue.com
Sales: $7 billion
Key Personnel: Thibaut Mongon, chief executive officer and director; Luani Alvarado, chief people officer; Ellesha Kirby, global head, skin health & beauty and design; Carlton Lawson, group president, Europe, Middle East and Africa; Donna Lorenson, chief corporate affairs officers; Jan Meurer, chief growth officer; Matt Orlando, general counsel; Rosana Padilla, president, Latin America; Manoj Raghunandanan, global head, self-care and consumer experience organization; Paul Ruh, chief financial officer; Meri Stevens, chief operations officer; Bernardo Tavares, chief technology & data officer; Caroline Tillett, PhD, chief scientific officer; Kathy Widmer, group president, North America and Latin America; Ellie Bing Xie, group president, Asia Pacific; Natasha Zuyev, chief quality officer
Major Products: Baby Care—Johnson’s, Aveeno Baby, Desitin. Oral Care—Listerine; Skin Health & Beauty—Neutrogena, Aveeno, Dr.Ci:Labo, Clean & Clear, Lubriderm, Johnson’s Le Petit Marseillas, Dabao, Neostrata, Exuviance; Hair, Sun & Other Care: Neutrogena, Aveeno, OGX, Maui Moisture, Rogaine, Piz Buin, Sundown
New Products: Aveeno—Eczema Therapy Rescue Relief Treatment Gel Cream, Tone + Texture Gentle Renewing Night Cream and Renewing Lotion for Sensitive Skin, Calm + Restore Nourishing Oat Facial Cleanser refill; Baby Care—Johnson’s Sensitive Care Wash and Cream; Listerine—Concentrate Refills, Zero; Neutrogena—Ultra Gentle Body Gel Hydrator Lotion Pro-Vitamin B5 Moisturizer; Johnson’s—Sensitive Care wash and body cream
Comments: 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.
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.