Unilever finds Bed Head attractive sleeper?
Wednesday, January 28th, 2009Professional hair care maker Tigi has been acquired by Unilever for $411 million. Its sales volume is $250 million and employs 550 worldwide, and it will report into U.S. president Michael Polk. The acquisition includes Toni & Guy’s advanced education academies but not the company’s vast salon chain.
It would appear that Unilever does not mind getting into a dust-up with L’Oreal and Procter & Gamble, both big players in the salon and hair care categories. But why would they want to crack that segment which has such competition? Former Tigi CEO Bruno Mascolo, who will remain as a consultant to Unilever said in Amsterdam that he believes the maker of Bed Head could surpass L’Oreal’s Redken.
Those are sure fighting words for a guy stepping down. L’Oreal and Procter ate Unilever’s beauty lunch, forcing the Anglo-Dutch behemoth to sell Elizabeth Arden and Calvin Klein Cosmetics. Will this be a repeat?