06.14.21
Unilever will acquire Paula's Choice for an estimated $2 billion. Unilever did not disclose a purchase price. Paula's Choice was founded in 1995 by Paula Begoun, author of "Don't Go to the Cosmetics Counter Without Me" and "The Complete Beauty Bible."
“We are thrilled that Paula’s Choice will join our Unilever Prestige family," said Vasiliki Petrou, Unilever EVP and CEO Prestige. "Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience.”
Begoun said she is excited that Unilever and Paula’s Choice are joining forces, and thanked the Unilever team for believing in the Paula's Choice mission and values.
"With Unilever we can build on our work and vision spanning 26 years of creating brilliant products, and by giving people the self-confidence that comes from knowing they are taking the best care of their skin possible,” she said.
Paula's Choice is said to have net sales of $300 million and its CMO, Erika Kussmann, said Paula's Choice is the largest direct-to-consumer skin care brand in the world. In an interview with Happi earlier this year, Kussman said after years of growing DTC, a recent agreement with Sephora provides new opportuntiies in traditional retail.
“Our focus has been building our DTC channel, and we are now at the perfect point where we have growing awareness with so much potential ahead as we tap into the combined DTC plus retail dynamic,” she said.
The deal is expected to close in the third quarter. For Unilever, the move adds another DTC business to its prestige portfolio, which already includes Tatcha, Murad, Dermalogica, Kate Somerville and Ren. The comes after Unilever has considered divesting some of its smaller beauty brands.
“We are thrilled that Paula’s Choice will join our Unilever Prestige family," said Vasiliki Petrou, Unilever EVP and CEO Prestige. "Paula’s Choice is a true pioneer in the digital space for beauty and has created a mission-based brand rooted in truth and transparency. We can’t wait to introduce the brand and its iconic products to an even bigger audience.”
Begoun said she is excited that Unilever and Paula’s Choice are joining forces, and thanked the Unilever team for believing in the Paula's Choice mission and values.
"With Unilever we can build on our work and vision spanning 26 years of creating brilliant products, and by giving people the self-confidence that comes from knowing they are taking the best care of their skin possible,” she said.
Paula's Choice is said to have net sales of $300 million and its CMO, Erika Kussmann, said Paula's Choice is the largest direct-to-consumer skin care brand in the world. In an interview with Happi earlier this year, Kussman said after years of growing DTC, a recent agreement with Sephora provides new opportuntiies in traditional retail.
“Our focus has been building our DTC channel, and we are now at the perfect point where we have growing awareness with so much potential ahead as we tap into the combined DTC plus retail dynamic,” she said.
The deal is expected to close in the third quarter. For Unilever, the move adds another DTC business to its prestige portfolio, which already includes Tatcha, Murad, Dermalogica, Kate Somerville and Ren. The comes after Unilever has considered divesting some of its smaller beauty brands.
