Latest news with #FreddyWard
Forbes
02-04-2025
- Business
- Forbes
Unilever Acquires Wild, UK's Leading Natural Deodorant Brand
Wild Cosmetics, a UK plastic-free cosmetics brand founded less than six years ago, has been acquired by Unilever for an undisclosed sum. Reports indicate that the two founders and childhood friends Freddy Ward and Charlie Bowes-Lyon own approximately 40% of the company—suggesting a total transaction value of £250 million, (around 300 million USD). Launched in the UK in 2020, Wild Cosmetics became popular thanks to its refillable, plastic-free deodorants and lip balms as well as natural hand and body wash. Inititally sold though its direct-to-consumer channel only, the brand positioned itself as a premium, eco-friendly personal care brand and rapidly gained traction amongst shoppers. In 2021, it expanded into grocery retail through Sainsbury's, Boots and Holland & Barrett and quickly became UK's number one natural deodorant brand. A key driver of Wild's success became its positioning as 'the water bottle of the bathroom', as co-founder Freddy Ward explained it for Brightpearl a few years back: 'The way I like to explain it is 80% of customers in the UK now use a reusable water bottle but less than 5% of people have a sustainable solution for their bathroom products'. He shared his vision of consumers making the shift to refillable personal care products the same way they do with refillable water bottles, as long as it is made easy thanks to convenient, sustainable solutions. Less than four years after becoming widely available in the UK, Wild grew at a staggering +151% over three years to become the most popular deodorant brand, with sales of £46.9 million in 2023 (+77% YoY) and a pre-tax profit of £509,000 according to its annual report. Partnering with Unilever is seen as a strategic move to scale this vision, leveraging Unilever's global reach and distribution network to drive widespread adoption. Bowes-Lyon, Wild's chief marketing officer, told The Guardian that having access to Unilever's distribution network and R&D would help accelerate its 'ultimate mission to remove plastic from the average Joe's bathroom' and to 'make sustainability mainstream'. There is no reason to believe that Unilever would fall short of honoring this vision, especially as it is very aware of growing consumer and societal pressures around sustainability. Wild deodorants have grown faster than Unilever-owned deodorant brand and has gained strong eco-friendly credibility, making it an obvious strategic fit for the group. According to Fabian Garcia, the president of Unilever's personal care division, 'the brand's innovative approach to formulations and packaging, and social-first marketing, has made Wild an unmissably superior brand and a perfect complement to our personal care portfolio.' Wild Cosmetics' strong brand equity, eco-friendly credentials, premium positioning and strong financial position made it a clear acquisition target for Unilever, especially as the company looks to move towards more premium, high-growth segments. Zooming out, this acquisition marks a broader trend within the consumer goods space: established industry leaders acquiring young, agile brands that excel in product innovation and create desirable, authentic brands born to be close to the consumer. The rise of consumer interest in health, wellness and sustainability has also fueled this shift, highlighting an industry-wide push towards more agile, forward-thinking brands. Overall, this signals a positive shift and an encouraging future for brand founders and the consumer goods space, as it demonstrates how evolving consumer needs and behaviors are driving positive change, and ultimately rewarding innovation.
The Guardian
01-04-2025
- Business
- The Guardian
Wild co-founders ‘land £100m' from sale of natural deodorant maker
A pair of UK entrepreneurs selling refillable deodorant cases and manuka honey lip balms made from natural ingredients have reportedly landed a near-£100m payday from the sale of their brand to the global consumer goods group Unilever. Wild, founded by childhood friends Freddy Ward and Charlie Bowes-Lyon, has been bought by Unilever, the maker of Dove soap, Axe deodorant and Marmite. Unilever has acquired the upmarket brand – which specialises in 'refillable, natural, body care' – as it seeks to shift its portfolio towards premium and high-growth brands. Wild makes premium deodorants starting from £12, lip balms from £7.20, and body washes and hand washes priced from £15.40, using plant-based ingredients, with refillable, plastic-free packaging. The Brixton-based startup changed hands for an undisclosed sum but is thought to be valued at £230m, according to the Times. Wild was launched six years ago by Ward and Bowes-Lyon, who is first cousin three times removed of the late Queen Mother. They wanted to tackle the issue of single-use plastics and spotted a gap in the market for sustainable bathroom products. The deal will make the pair – who are both in their 30s – millionaires, as they reportedly own nearly 26% and 17% of the company respectively. Fabian Garcia, the president of Unilever's personal care arm, said: 'The brand's innovative approach to formulations and packaging, and social-first marketing, has made Wild an unmissably superior brand and a perfect complement to our personal care portfolio.' Bowes-Lyon said: 'Joining Unilever marks an exciting new chapter for Wild. Our mission to remove single-use plastic from the bathroom with desirable, innovative personal care products will be hugely strengthened by leveraging Unilever's expertise, scale and reach to further grow the brand and bring our vision to more consumers.' Wild is backed by investors including the founders of Innocent Drinks. It is thought to have raised £10m from its backers in the past, including JamJar Ventures, the investment vehicle of Innocent Drinks' founders, Redbus Ventures and Slingshot Ventures. Unilever is acquiring the brand while the consumer group is in the middle of a big shake-up, which involves 7,500 job losses, as it trims its food portfolio to focus more attention on its biggest sellers. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion It is spinning off its Ben & Jerry's and Wall's ice-cream division, announcing plans for a main stock market listing in Amsterdam, in a blow to the London stock market. It will have secondary listings in London and New York. Unilever's chief financial officer Fernando Fernandez was promoted to chief executive last month, replacing Hein Schumacher, who was ousted after less than two years at the helm. Fernandez previously ran Unilever's beauty and wellbeing division, one of its fastest-growing businesses.
