
Beiersdorf, the maker of Nivea and other skin care brands, is buying U.S. sun care brand Coppertone from Bayer for $550 million to strengthen its position in North America, the German consumer goods firm said on Monday.
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Beiersdorf, the maker of Nivea and other skin care brands, is buying U.S. sun care brand Coppertone from Bayer for $550 million to strengthen its position in North America, the German consumer goods firm said on Monday.
German consumer goods firm Beiersdorf reported a recovery in sales of its Nivea skin cream and its premium La Prairie brand in the first quarter after a new chief executive pledged more investment to fight niche brands.
L’Oreal is banking on a turnaround in the group’s mass market division that makes Garnier shampoo and skincare treatments this year, despite pressures in the United States and slowing make-up sales.
Shares in Beiersdorf dropped more than 10% on Wednesday after the maker of Nivea skin cream warned that its operating margin would fall in 2019 as it invests to compete with niche brands that are disrupting the sector.
Nivea skin cream maker Beiersdorf will make additional investment of up to 80 million euros a year in its consumer business to counter a forecast drop in sales growth, the German company said on Tuesday.
Strong Chinese demand for luxury skin creams helped Lancome owner L’Oreal beat sales forecasts in the fourth quarter, as did a pick-up in its lagging mass market division.
The new chief executive of Nivea skin creams maker Beiersdorf promised strategic steps in 2019 to deliver sustainable growth after reporting slower sales in the fourth quarter of 2018.
Beiersdorf , the maker of Nivea skin creams, is shaking up its top management team when new chief executive Stefan De Loecker takes over on Jan. 1, poaching managers from rivals Procter & Gamble and Reckitt Benckiser .
French cosmetics maker L’Occitane International SA is drawing bids from private equity firms, including Advent International, the Financial Times reported on Tuesday.
Beiersdorf said it snatched market share away from rivals as it posted a 6 percent rise in organic group sales in the first nine months, boosted by strong performances at both its Consumer and Tesa businesses.