Unilever has started its fiscal calendar year 2021 on a tear. The multinational posted underlying sales growth of 5.7 per cent in the first three months of the year to reach global revenues of 12.3 billion euros (AUD$19.17 billion).
Its beauty and personal care division, including power brands Dove and Pond’s and prestige players like Dermalogica and Dr Murad, accounted for just over half of overall sales, increasing 2.3 per cent to 5 billion euros (AUD$7.79 billion).
Unilever has also announced its will spin off some of its smaller personal brands such as Q-tips, TIGI, Caress, Impulse and Timotei into a standalone business called Elida Beauty. Although most of the brands are sold in Australia, the bulk of sales come from Europe and North America and reached a combined total of 600 million euros (AUD$935 million) in 2020.
Unilever’s forward strategy is to renew its focus on its prestige beauty stable, which enjoyed double-digit growth in Q1, and its wellness and vitamin products.
The Covid-19 pandemic propelled major growth in the wellness category and Unilever has acquired the OLLY, Liquid I.V and SmartyPants Vitamins brands in recent years to boost its slice of the well-being market.
Unilever bought another vitamin brand last week, the US-based Onnit brand. Founded in 2010, the company offers functional nutrition products designed to improve cognitive function, mood and relaxation, gut health and immunity.
The hero product of the range is Alpha Brain, a nootropic supplement which claims to improve memory and mental processing. Onnit products are available from multiple websites in Australia, including au.iherb.com, myshopping.com.au and ships to Australia from its US website, onnit.com