Living Proof to become a Unilever brand in 2017
When the deal closes, Living Proof will become part of the Unilever prestige portfolio alongside brands like Dermalogica, Kate Somerville, Murad, and REN. The company picked up those prestige skin care lines in 2015. And now with this deal, Unilever is moving into prestige hair.
Pending standard regulatory approvals, the Living Proof acquisition is expected to be finalized in Q1 of the New Year. Terms of the acquisition have not been made public.
The company’s current portfolio of hair brands includes mass market lines like TreSemmé, Nexxus, and Suave. But Unilever believes that growth will come from the prestige sector.
“The Prestige Hair retail market is very attractive and offers significant potential for growth,” Alan Jope, the company’s president of personal care, says in a press release about the Living Proof deal.
“Through compelling product result demonstrations and influencer driven marketing, Living Proof is already a successful business in this space and we look forward to further developing and growing this wonderful brand,” adds Jope.
Living Proof is a science-forward personal care brand. The company prides itself on “[solving] the toughest beauty challenges with science and patented technology originating from MIT,” as the Living Proof site explains.
The Unilever press item about the deal features a science-heavy brand story too. There’s mention of biomedical scientists, patented technology, advanced scientific discoveries, and again MIT.
And it looks as if that will remain central to the Living Proof brand at Unilever: “Unilever shares our deep commitment to science, quality and innovation, making them the ideal partner to take us to the next stage of our journey,” Grace Ray, CEO of Living Proof, tells the press.
“I’m confident that together we will accelerate our mission to change people’s lives through products that deliver results you can see from across the room,” says Ray.