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She founded the unit a decade ago and it now spans 10 brands in skin care, hair care and beauty.
June 13, 2024
By: Christine Esposito
Editor-in-Chief
Vasiliki Petrou, Unilever Prestige’s founder and CEO, is departing the company at the end of July. She made the announcement today on LinkedIn.
The unit, which was formed in 2014, has grown to portfolio of 10 brands spanning in beauty, skincare and haircare. It has recorded 13 consecutive quarters of volume-led growth and 2023 turnover of €1.4 billion, according to Unilever.
“The idea of Unilever Prestige disrupted long-held paradigms and created a new to the world playbook of premium beauty acquisitions and sustainable long-term growth. Being the Unilever Prestige Founder and CEO has been a great honour and I’m proud of the many milestones we achieved together: A portfolio of 10 beautiful brands in just 10 years; becoming a €1.4B global portfolio and consistently growing ahead of the market. On a personal level, as someone who believes in lifting and championing women, being a female leader in a division made up of 80% women has been an incredibly rewarding and inspirational experience,” she wrote in her post.
Petrou thanked Dave Lewis, Paul Polman, Alan Jope and Hein Schumacher for supporting “her vision for Unilever Prestige,” noting that they “understood the potential of this white space opportunity with modern luxury brands operating in a brand-centric model.”
She also acknowledged the 10 founders of brands that became part of the Unilever Prestige unit under her watch.
“Working with our brand founders—Jane Wurwand, Ray Wurwand, Dr. Howard Murad, Kate Somerville, Carisa Janes, Vicky Tsai, Saveria Coste, Eric Coste, Paula Begoun, Suveen Sahib – has been an honour.” Their passion, devotion and the unrivalled owner’s mindset has been inspirational and I thank them for their partnership,” she said.
The acquired brands in the stable include: Dermalogica, Murad, Kate Somerville, Paula’s Choice, REN, Garancia, K18, Tatcha, Living Proof and Hourglass.
Dermalogica and Paula’s Choice are among Unilever’s “Power Brands.”
“To each of the brand CEOs and the 3,000 people who make up the wider Prestige family – like I have always said, I truly believe that Unilever Prestige is part of something bigger and I’m so proud of the legacy we have created together,” Petrou added.
Petrou’s intent is to set up her own investment fund.
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