THE WHAT? Unilever has sold its majority stake in Intuiskin to Ieva Group for an undisclosed sum, according to a report published by WWD.

THE DETAILS Unilever will retain a minority stake in the parent company of Ioma, Ioma Hair and Made With Care. Ieva Group has also announced that it has completed a €9 million funding round led by Credit Mutuel Innovation.

THE WHY? Ieva Group Founder Jean Michel Karam set up Intuiskin in 2010 before selling a stake to Unilever the following year. Unilever went on to take full control eight years ago. Karam said in a statement, per WWD, that the acquisition ‘is a major step in the develooment of Ieva Group’.