THE WHAT? Vasiliki Petrou, the architect behind Unilever’s Prestige Division, is leaving her role as CEO after a decade of building the division into a €1.4 billion entity. She announced her departure on LinkedIn, citing her ambition to start her own investment fund.
THE DETAILS Petrou was brought on by Unilever ten years ago to create the Prestige Division from scratch, beginning with the acquisition of Dermalogica in 2015 for approximately US$1 billion. Under her leadership, the division grew to include 11 brands, such as K-18 Biomimetic Hair Science.
Despite impressive growth, with a CAGR of 12% from 2019 to 2023 and 12 consecutive quarters of growth, the Prestige Division remains smaller compared to Unilever’s mass-market Personal Care and Beauty & Wellbeing divisions, which had sales of €14 billion and €12 billion respectively in 2023.
THE WHY? Petrou’s departure coincides with CEO Hein Schumacher’s efforts to premiumize Unilever’s portfolio, focusing on billion-euro power brands and spinning off the ice cream business.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
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Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
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Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
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Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
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Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
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Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
