THE WHAT? Unilever is said to be reviving a plan to auction off its non-core personal care brands. The portfolio, which includes Timotei, St Ives and Impulse is known as Elida Beauty and generated US$760 million in revenue last year.
THE DETAILS Reuters reports that the UK-based FMCG manufacturer has appointed Morgan Stanley and Evercore to conduct the sale process, which will be the first major divestment under CEO Hein Schumacher’s reign. The manufacturer of Dove wishes to sell Elida as a single unit, and Reuters predicts a multi-billion-dollar price tag.
THE WHY? Unilever, Morgan Stanley and Evercore declined to comment when approached by Reuters but the plan is no doubt part of Unilever’s wider strategy to focus on core brands.