Henkel signed an agreement to acquire the Vidal Sassoon brand and the related haircare business from Procter & Gamble in Greater China. Last year, it was reported that P&G was considering options for the business and valued the deal at around $1 billion.
WHO: VS Sassoon was founded by the late British stylist Vidal Sassoon, who rose to fame in the 1960s after cutting the hair of actress Mia Farrow and fashion icon Mary Quant. Vidal Sassoon is a well-established haircare brand, with a salon-inspired image in the retail market. The product portfolio focuses on the premium haircare segment with shampoos and conditioners, but also offers products around styling and treatments. The business holds a strong position in the Chinese market.
Founded in 1876, Henkel operates globally with a well-balanced and diversified portfolio. The company holds leading positions with its three business units in industrial and consumer businesses thanks to strong brands, innovations, and technologies. In 2022, Henkel reported sales of more than 22.4 billion euros and employs about 50,000 people globally.
WHY: The addition of this brand complements the local portfolio of Henkel Consumer Brands in China by covering a white spot in the premium retail segment.
IN THEIR OWN WORDS: “As part of our strategic growth agenda, we are pursuing targeted acquisitions to actively shape and strengthen our portfolio. The transaction will be a step-change for our Consumer Brands business in China, providing the opportunity to further scale our business in one of our core categories in this attractive, growing market,” said Henkel CEO Carsten Knobel.
“We are excited about the opportunity to add this strong brand to our portfolio. It perfectly fits our strategic focus of expanding our competence in hair beyond our existing brands in the Professional and Retail space. With this acquisition, we are able to offer a complete portfolio of hair innovations to consumers in China—across Schwarzkopf, Schwarzkopf Professional, Shiseido Professional, as well as Vidal Sassoon,” said Wolfgang König, Executive Vice President, Henkel Consumer Brands.
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