THE WHAT? Henkel has announced plans to create a multi-category platform through the merger of its Laundry & Home Care and Beauty Care units into a new Consumer Brands division.
THE DETAILS The company will start preparations for the integration process straight away and aims to have the new organization in place by the start of 2023 at the latest. The merger and new unit will be led by Wolfgang Konig, currently EVP for Beauty Care. Bruno Piacenza, now EVP Laundry & Home Care, will work closely with Konig and leave the company by 2022’s close.
The new business unit will comprise around €10 billion in sales and be organised around customer and channel centricity, with an integrated approach for retailers, trade or channel partners across all consumer categories.
THE WHY? Carsten Knobel, CEO of Henkel, explains, “We will join forces in our consumer goods businesses to create one strong, integrated business unit as a foundation for future profitable growth. The integrated Consumer Brands business will bring significant benefits to Henkel, our shareholders, customers and teams and will be well-positioned to actively shape its future in a highly dynamic industry.”