Latest news with #MyCream
Fashion Network
06-05-2025
- Business
- Fashion Network
Unilever to close Ren Clean Skincare by the end of Q3 2025, a decade after its acquisition
Rob Calcraft and Antony Buck founded Ren Clean Skincare in London in 2000. The brand gained popularity for its clean formulas—free of controversial ingredients—and its strong environmental commitments. Unilever acquired the company in 2015. Under the leadership of Vasiliki Petrou, director of Unilever's Prestige division, the brand generated £1.2 billion in turnover in 2023. Following Petrou's departure, however, Ren Clean Skincare experienced declining profits. The company then implemented strategic changes, cutting its product portfolio by one-third to modernize and shift focus toward the U.S. market. Ren Clean Skincare maintained a strong retail presence in France, with distribution across nearly 1,000 outlets, including concept stores like Oh My Cream! In 2019, the UK generated 25% of the brand's sales, while North America contributed nearly 40%. In July 2024, Managing Director Michelle Brett stepped down, and Unilever chose not to appoint a successor. Speculation emerged in mid-2024 that Unilever planned to sell Ren Clean Skincare and Kate Somerville, particularly after the company reported a 0.9% dip in Q1 2025 revenue to €14.8 billion. However, no transactions followed. Unilever's decision to shutter the brand forms part of a wider brand and workforce streamlining strategy introduced nearly a year ago as part of its ongoing restructuring plan.
Fashion Network
05-05-2025
- Business
- Fashion Network
Unilever to close Ren Clean Skincare by the end of Q3 2025, a decade after its acquisition
Rob Calcraft and Antony Buck founded Ren Clean Skincare in London in 2000. The brand gained popularity for its clean formulas—free of controversial ingredients—and its strong environmental commitments. Unilever acquired the company in 2015. Under the leadership of Vasiliki Petrou, director of Unilever's Prestige division, the brand generated £1.2 billion in turnover in 2023. Following Petrou's departure, however, Ren Clean Skincare experienced declining profits. The company then implemented strategic changes, cutting its product portfolio by one-third to modernize and shift focus toward the U.S. market. Ren Clean Skincare maintained a strong retail presence in France, with distribution across nearly 1,000 outlets, including concept stores like Oh My Cream! In 2019, the UK generated 25% of the brand's sales, while North America contributed nearly 40%. In July 2024, Managing Director Michelle Brett stepped down, and Unilever chose not to appoint a successor. Speculation emerged in mid-2024 that Unilever planned to sell Ren Clean Skincare and Kate Somerville, particularly after the company reported a 0.9% dip in Q1 2025 revenue to €14.8 billion. However, no transactions followed. Unilever's decision to shutter the brand forms part of a wider brand and workforce streamlining strategy introduced nearly a year ago as part of its ongoing restructuring plan.
