Unilever’s Prestige division aims for €3 billion revenue in near future
“A collection of gems,” is how Vasiliki Petrou describes Unilever Prestige, the division of Unilever set up in 2014 of which she is executive vice-president, and which is expected to reach a revenue of €3 billion within two to three years. The Anglo-Dutch giant is renowned for its consumer goods brands, like Dove and Sunsilk, but in the last seven years it has been pursuing a policy of acquiring premium beauty brands.
The latest acquisition was made last June, when Unilever bought Paula’s Choice, an American skincare brand founded in 1995, for which the group reportedly paid $2 billion (€1.77 billion).
The portfolio of Unilever Prestige includes eight other brands: Dermalogica, Kate Somerville, Murad, eco-sustainable skincare brand Ren, Living Proof, Hourglass, Garancia and Tatcha. Altogether, the division generated a revenue of €700 million, of which €200 million through Dermalogica alone.
In 2021, the sales of Unilever Prestige are expected to reach €1 billion.
To reach €3 billion in revenue, the division is focused on accelerating its e-tail growth, on product innovation and new acquisitions. Unilever Prestige currently generates 50% of its sales online, and 10 of its markets account on aggregate for 70% of total sales.
In fiscal 2020, the Unilever group recorded a revenue of €50.7 billion, down 2.4% as a result of the Covid-19 crisis.
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