Unilever Climbs Global Beauty Rankings with High-Growth Strategy
Unilever has secured the number three spot on WWD Beauty Inc’s annual ranking of the world’s top 100 beauty companies, driven by double-digit growth and strategic focus in high-performing categories. With 2023 beauty and personal care revenue reaching $28.23 billion, the company trails only L’Oréal and Estée Lauder in the global standings.
The FMCG giant attributes its performance to a sharpened focus on premium beauty and dermocosmetics while leveraging strong momentum across both emerging and established markets. Operating under new CEO Hein Schumacher, who took the helm in 2023, Unilever has emphasized category leadership and brand investments as core growth pillars.
Dermocosmetics and Prestige Drive Growth
Dermocosmetics, including brands like Paula’s Choice and Liquid I.V., have shown consistent growth, with Unilever spotlighting this segment as a key value driver. Prestige beauty has also emerged as a strategic focus, with the business reportedly growing at double-digit rates. Recent portfolio expansions—such as the acquisition of hair wellness brand Nutrafol in 2022—further signal Unilever’s commitment to premium positioning in personal care.
The company’s most recent acquisition of performance skincare brand K18, finalized in early 2024, aligns with its long-term strategy of targeting high-potential niches. Rumored to be valued at over $1 billion, the deal underscores the group’s intent to scale its presence in the high-growth professional hair care space.
Emerging Markets and Innovation Underpin Performance
With 60% of beauty and personal care revenue coming from emerging markets, Unilever has taken a global-local approach—investing heavily in R&D facilities in key markets like India and China, while expanding digital capabilities for speed and relevance. The company continues to adapt its portfolio to local consumer needs, contributing to its overperformance in key geographies.
Innovation remains central, with a focus on sustainability and science-backed formulas. The firm’s investment in biotech and AI-enhanced product development is helping it cater to demand for efficacy-led solutions, particularly in skincare and hair care.
As category consolidation and consumer sophistication reshape the beauty market, Unilever’s growth trajectory reinforces a broader trend: strategic portfolio focus, market-specific innovation, and targeted