Reuters reported that Kenvue, the consumer-health business spun off from Johnson & Johnson, has engaged investment bankers at Goldman Sachs to explore the sale of some of its smaller skincare and beauty brands. Kenvue was built on more than a century of heritage with a brand portfolio includes Aveeno, Band-Aid Brand Adhesive Bandages, Johnson's, Listerine, Neutrogena, Tylenol, and Zyrtec.People familiar with the matter have said the company is looking to divest of smaller brands like Clean & Clear, Maui Moisture, Neostrata, German baby care brand Bebe, and Japanese brand Dr.Ci:Labo as it seeks to streamline its portfolio and concentrate on core assets.The brands under review are estimated to collectively generate over $500 million in annual revenue, a small share of the company’s $15.5 billion annual revenue, but they have been a drag on growth.Kenvue is responding to ongoing pressure to improve performance and simplify operations amid scrutiny from activist investors. Starboard Value LP and Hedge fund investor TOMS Capital took a stake in the business last year, stating that the company trades at a discount to peers despite having best-in-class brands across skincare, home care, and over-the-counter drugs.By shedding non-core assets, their goal is to focus on high-performing flagship brands and drive efficiency in marketing investments. The skin health and beauty unit reported a 4.8% year-over-year organic sales decline in Q1 2025. Final decisions on the sale package are still pending, and no deal is guaranteed.Kenvue recently made the Fortune 500 list for the first time since becoming a fully independent company, listed at number 281.