Food and households products colossus Unilever is poised to hang a ‘for sale’ sign over its perfumes unit, Unilever Cosmetics International, according to insiders.
The unit which numbers Calvin Klein and Karl Lagerfeld among its global brands is expected to realise between $750 million (€769.86m; £491.26m) to $1 billion, say those close to the situation. Unilever’s lips, however, remained resolutely sealed.
For some months rumor has been rife that the perfumes business would be put up for grabs given the Anglo-Dutch group’s oft-repeated intention to focus on its core brands – to say nothing of its $225 million disposal in October 2000 of its cosmetics unit Elizabeth Arden.
Data sourced from: The Wall Street Journal Online; additional content by WARC staff