Unilever has recently sold the two dozen brands of its beauty division Elida Beauty to investment fund Yellow Wood Partners, but Zwitsal is not among them – contrary to earlier reports.
“Zwitsal has not been sold, that brand remains with us”, Unilever Belgium spokesperson Marie-Adélaïde Defourny told RetailDetail. In doing so, she corrects earlier reports about the sale of Elida Beauty, which groups some twenty brands that are no longer a priority for the company, including Timotei, Q-Tips and Monsavon. Zwitsal was also part of Elida, but had removed from the transaction as it is a successful brand in the Benelux.
Driven by its new CEO Hein Schumacher, Unilever wants to focus on its thirty strongest brands, which account for more than two thirds of its total sales. Earlier this year, the company has already sold shaving brand Dollar Shave Club, once a pioneer in direct-to-consumer sales in FMCG, to investment company Nexus.