Unilever enters premium haircare market with TIGI saloon acquisition
30 January 2009 | By Popsop Team
Unilever has agreed to buy the TIGI professional hair product business and its supporting Advanced Education Academies for $411m in cash.
Vindi Banga, Unilever President, Foods, Home & Personal Care, said, ‘We already have a strong position in daily hair care and adding the salon brands will further build our position in the hair category. We can bring our world-class R&D expertise to it and offer greater opportunity for geographical expansion. TIGI’s strength in styling, and its fashion and beauty expertise will also help us raise the bar on innovation for our existing hair brands.’
Once the deal is completed, TIGI will operate as a stand-alone Global Business Unit within Unilever.
TIGI’s major brands include Bed Head, Catwalk and S-Factor. TIGI has operations in the US, UK, Italy, Germany and Australia. It employs about 550 people and in 2008, had worldwide sales of approximately $250m.
Launched in 1986, TIGI haircare products are sold worldwide primarily to and through hair salons. It is owned and run by Bruno, Guy and Anthony Mascolo, creators of Toni & Guy – with their other brother Toni – who are Chief Executive Officer, Chairman of the Board, and Worldwide Creative Director of TIGI respectively. The transaction does not include the Toni & Guy salon business.
Popsop.com
Tags: food, hair care, household detergents, personal care, Unilever
