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Unilever acquires premium haircare brand K18; grows the FMCG major's Prestige portfolio
Unilever signed an agreement to acquire the premium biotech haircare brand K18. This marks another step in the optimisation of Unilever’s portfolio towards higher growth areas.
Terms of the deal were not disclosed. The transaction is expected to close in Q1 2024. (Representative Image: Constantin Wenning via Unsplash)
Founded in 2020 by Suveen Sahib and Britta Cox, K18 is a fast-growing brand that sits at the intersection of beauty and biotechnology. It has been a pioneer of using social media to educate and engage consumers about the science of hair.
Vasiliki Petrou, Unilever Prestige CEO, said: “We are thrilled to continue to grow our Unilever Prestige portfolio in high growth premium spaces with the addition of K18. This acquisition complements our fast-growing portfolio of premium, culturally-relevant consumer brands. What Suveen, Britta and the team have created is a testament to the importance of brands built on unparalleled science, product efficacy and community love.”
Suveen Sahib, co-founder and CEO of K18 said: “Nature is the best designer, and we’ve found that by understanding the biology of hair you can achieve true hair health and hair expression with less product, less time, and less frustration. We are elated to join forces with Unilever, who sees the value in our unique biology-first and biotech approach that is more sustainable and efficacious. Our team is proud to join its Prestige beauty business of future forward brands that deliver true impact.”
Terms of the deal were not disclosed. The transaction is expected to close in Q1 2024.
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