Unilever to Sell Off Kate Somerville Brand
Unilever is divesting its Kate Somerville brand, with Rare Beauty set to purchase it.
Kate Somerville offers skincare and body care products, and also owns a clinic located on Melrose Place in Los Angeles.
The clinic, founded by Somerville, opened in 2004 as a way to bring together cutting-edge medical technologies and advanced facial treatments. Somerville later expanded into skincare, inspired by her search for solutions for severe eczema.
Unilever Prestige has been working on the brand's turnaround strategy over the past 18 months, according to CEO Mary Carmen Gasco-Buisson.
"As the brand enters a new chapter, we believe that its continued growth and success will be best supported by new ownership better aligned to its evolving needs," she said in a statement.
Also: Unilever acquired men’s grooming brand Dr. Squatch as part of a strategy to grow in premium spaces
The transaction will expand the Rare Beauty portfolio, which already includes its flagship Rare Beauty brand, along with skincare brands Patchology and Dot Dot Dash, and nail-care brand Dr. Dana. Chris Hobson, president and CEO of Rare Beauty Brands, said the Kate Somerville brand aligns with the company's values of creating communities that empower and brands that inspire.
The deal is expected to be finalized by the end of the year.
