Unilever announced today that it has created a new company, Unilever Cosmetics International, to extend its global portfolio of prestige beauty and fragrance brands.
"The demand for luxury fragrance and cosmetics products is on the rise around the world," said Charles B. Strauss, president of Unilever Home & Personal Care - North America, "and Unilever must move decisively to understand and respond to the needs and desires of our consumers.
The establishment of Unilever Cosmetics International is a solid indication of Unilever's commitment to the category. Our goal is to rapidly expand the Unilever portfolio of global brands to achieve top-tier status in important markets around the world."
Paulanne Mancuso, currently president and CEO of Calvin Klein Cosmetics Company (CKCC), a Unilever company, becomes president and CEO of Unilever Cosmetics International. The new company is headquartered in New York City.
Unilever Cosmetics International is comprised of two business units: Calvin Klein Cosmetics which will continue to operate as a separate unit with its own dedicated product development, marketing and sales organisation; and a new unit, Unilever Prestige, dedicated to the development of fragrance and beauty brands.
"This year we are embarking on an intensive growth and innovation strategy which includes the launch of a new Nautica fragrance. In addition our successful Calvin Klein business will be supported by the introduction of a full line of color cosmetics and a new Calvin Klein fragrance launch," said Mancuso.